New-age accounting firms play a significant role in cross-border transactions, leveraging their expertise in international tax laws and regulations and technological capabilities to help businesses navigate the complexities.
One of the key ways these new-age accounting firms can assist in cross-border transitions is by providing guidance on the tax implications of such transactions. They can use their technological capabilities to streamline cross-border transactions. Accounting firms also provide virtual CFO services to businesses operating in multiple countries. A virtual CFO can provide the required financial oversight and strategic advice, helping companies to improve their financial performance and achieve their growth goal.
Founded by Shabir Djakiodine, Euro Accounting Ltd. is one such new-age multi-awards accounting firm, supporting its clients during the creation of their company with a global handling of all administrative formalities. Raised in Madagascar, Shabir completed his education in Sweden and France and became a qualified Chartered Accountant. He gained experience working with several multinational companies in the U.K., Switzerland, and New Zealand.
Shabir speaks five languages and is a judge in Meditation and Arbitration in Geneva and Paris with CIMEDA “Court Internationale de Mediation et d’Arbitrage” or “International Court of Mediation and Arbitration.” Shabir has also established a charity named Fossa International in Madagascar/Asia to help poor people, children, schools, and orphanages.
Serving Clients Efficiently
Early in his career, Shabir recognised an unexploited niche to provide accountancy services to Francophone businesses looking to invest directly in the U.K. or make other cross-border investments. Shabir decided to base the accounting practice in the U.K. rather than France, as he felt recruiting French-speaking accountants took a lot of work.
“Euro Accounting helps cross-border businesses thrive on either side of the English Channel. Our niche now includes British businesses investing in Europe and Francophone businesses investing in the U.K.,”- explains Shabir. “We offer company incorporation, full accounting and taxation services to our clients and like to surprise them positively with the quality of our service and responsiveness. Clients can grow confidently knowing their regulatory and tax affairs are handled diligently wherever they operate.”
Standing Tall in a Fiercely Competitive Market
Although a medium-sized organization, Euro Accounting works internationally, has its teams spread across three continents, and has developed an international network of accountants and lawyers, Gentia Alliance CIC, to provide local support where required. This comprises 25 firms across 22 countries in Europe, Asia, and the Middle East.
Euro Accounting boasts a team that goes beyond just being diverse – it’s an eclectic mix of professionals that genuinely represent a melting pot of cultures. Founded by a French-speaking Madagascan, Euro Accounting’s team of 20 is a reflection of a global village with members hailing from three continents and embodying 10 different ethnicities. The team’s impressive linguistic abilities are unparalleled, with a collective fluency in 12 birth languages, which allows them to communicate with clients in their preferred language.
“We support and listen to each other open-mindedly. There are no “crazy” ideas; often, one new idea sparks others when discussed. Staff are happy to put forward ideas and volunteer to do things requiring some stretch,”- says Shabir. “This has not created a pressurised environment. Ironically, working through the recent pandemic taught us so much about mutual support – even when we are working remotely. We check in and listen to each other, and one team member likens it now to “a family,” a culture I’m keen to retain.”
Awards and Accolades
Shabir has started competing for the awards since 2021. In just 3 years, he has been recognized as the Business Person of the Year 2022 by SME National Business Awards and Entrepreneur of the Year 2022 by the famous CEO Review Magazine.
On the other hand, his practice has been selected as
- Finalist Diversity and Inclusion 2023 with Investors in People
- Finalist Tax Team of the Year 2022 with Accounting Excellence
- Finalist Business of the Year 2022 with SME National Business Awards
- Finalist Employer of the year 2022 with SME National Business Awards
- Finalist International Business of the year 2022 with the Federation of Small Businesses
- Finalist Leader of the Year 2022 with Investors in People
- Finalist Diversity and Inclusion 2022 with Investors in People
- Finalist Small Employer of the Year 2022 with Investors in People
- Finalist Best International Organisation for Business Culture 2022 with Business Culture Awards
- Finalist Business Culture Team Award 2022 with Business Culture Awards
- Finalist Best Small Organisation (under 50 people) for Business Culture 2022 with Business Culture Awards
- Finalist Best International Organisation for Business Culture 2021
- Finalist Best Small Organisation for Business Culture 2021
- Finalist Employer of the Year 2021 with Investors in People
Shabir feels his greatest challenge was to start the business without any clients and no one to help him. The next was finding French speakers and realising that harnessing new communications technology could eliminate geographical boundaries and restrictions, eventually leading to the creation of another team in France.
The pandemic brought many obstacles, which provided valuable lessons for Shabir and his team. They quickly adapted to working remotely and became adept at utilizing the latest communication technologies. This newfound proficiency also enabled them to expand their talent pool by recruiting skilled accountants and tax advisers based in France who could operate remotely and seamlessly deliver their services.
Looking at the Future
Shabir has ambitious plans to further grow Euro Accounting’s presence across Europe. He intends to achieve this by forging additional partnerships and convincing multinational corporations to appoint Euro Accounting as their primary service provider for all their European subsidiaries.