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SUSSEX NETWORK BUSINESS LECTURES
Global Perspectives – Monday 30 June 2008
The Sussex network was proud that Allen Blewitt agreed to come and speak to their members early on in his term as ACCA chief executive. At the beginning of 2008, when we knew he was coming to the end of his term of office, they invited him back. Allen accepted and the Global Perspectives event evolved as an evening looking at the achievements of two successful global players.
Allen’s presentation looked at today’s international business challenges and asked: what does ACCA need to do to cement its position as the global body for professional accountants? He covered the factors that have contributed to ACCA’s current success – both in the UK and internationally – and shared his vision for the future.
Marc Koska OBE was the second speaker. Marc talked briefly about his company, Star Syringe; it's unique set up, approach and product development. After reading an article predicting the transmission of HIV through the reuse of medical needles and syringes in 1984, Marc spent the next few years on a mission and founded Star Syringe in 1996 to commercialise his invention of the K1 AD (Auto Disable) syringe. Seventeen years later the first K1 AD syringe was sold in 2001 and on 15 May Marc and Star celebrated an amazing milestone, one billion K1 syringes made, sold and used. Since 2004 Star Syringe and Marc have won multiple awards in Sussex and the South East, Marc was proudly awarded the OBE in 2006 for his contribution to Global Healthcare.
The second part of Marc’s presentation dwelt on his charity SafePoint. Formally registered in 2006 it concentrates on informing the next generation, empowering women and children. He talked us through the differences that can, and have, been made and showed the uncut version of his next information film. An absorbing and thought provoking session.
A wine and canapés reception provided the opportunity for continuing discussion of the topics.
Chairman for the evening was the outgoing Sussex president, Malcolm Bradshaw. Rob Easterbrook, Sussex panel member, gave a vote of thanks to Malcolm for his unceasing and dedicated service that has brought the Sussex network the recognition it now has in the Sussex business community.
The event was supported by HSBC Commercial Banking, the world’s local bank.
SUSSEX NETWORKING LUNCH FOR PROFESSIONALS
On St Georges Day, 23 April, Sussex held the first of their 2008 networking lunches. Meeting at the Preston Park hotel in Brighton, the event was designed to enable members and their guests to network with senior finance people, service providers and professional service suppliers. Invitations were sent to finance professionals in the surrounding areas as well as to Sussex network members
A generous hour was allocated, and enthusiastically used, for networking followed by a two course lunch and an after lunch talk by Ken Brown, managing director of Brighton & Hove Albion football club. Before coming to Brighton Ken was CEO for Millwall FC for five years so had interesting tales to tell as well as updating the audience with the plans for the new Brighton stadium.
The lunch was sponsored by Sutton Winson, insurance and risk managers.
A second lunch is planned for 2 October, in Eastbourne, with His Honour Judge Mota Singh QC speaking. Sponsorship is from Cornfield Solicitors and the lunch will be run jointly with the Eastbourne Law Society.
SARA BROWN FCCA REPORTS ON HER ASSIGNMENT TO CHINA
On a four month assignment to Nottingham University Ningbo, China I was able to forge a good relationship with ACCA Shanghai who visited the Ningbo campus to explain to the students how they could become ACCA members. The students are taught in English and follow Nottingham University UK syllabus so they are able to get the UK exemptions. The ACCA in Shanghai were pleased to be introduced to the University and I am sure that there will be a mutually beneficial relationship between the two organisations. Towards the end of my time in Ningbo I gave a talk to Shanghai members on “Corporate Governance – the future or a fad”. It was really interesting to meet members based in Shanghai and to visit the ACCA offices, which are based on the 29th floor of a most impressive building in the centre of Shanghai. All the staff were most welcoming and I was very impressed by their professionalism.
One key problem for ACCA members is that the Peoples Republic of China does not allow ACCA members to audit public companies but the UK government etc are working hard to remedy the situation.
I have always been proud of the ACCA because of their international emphasis and was honoured to represent the UK in this minor way.
Corporate Governance principles are not wholeheartedly accepted in China at the moment, but with the ability of the Chinese to adapt it does not mean that it will not be achieved in the future.
At the present time the PRC officially accepts the OECD principles, but some major companies are listed on the NYSE and comply with SOX, or on the Hong Kong exchange where compliance to the UK combined code is required. On Kit Tam found in his research that no directors said the CEO should work towards raising the share price although 16% said the CEO should raise tax revenue for the state. It will be very interesting to see whether China accepts the need to adopt Corporate Governance principles. At present it is impossible to predict whether they will they adapt the principles to accommodate current practice or adapt current practices to accommodate Corporate Governance principles.
Sara Brown is a Sussex Members' Network panel member.
HMRC WORKING TOGETHER - IMPORTANT INFORMATION
HMRC have advised that all Sussex processing work will migrate to Centre 1 on 5/3/07. The Contact Centre handling Sussex work will still be Portsmouth & Bournemouth - the phone number remains the same 0845 3667856. Corporation Tax work is not affected and will still be handled from our Brighton office.
The correspondence address for Centre 1 is -
HMRC
Large Processing Office Centre 1
Queensway House
East Kilbride
G79 1AA
SOUTH OF ENGLAND BUSINESS LECTURE 2006
Finance professionals get an inspirational look at entrepreneurial success
In November the Sussex Members’ Network were hosts to the 2006 South of England Business Lecture at the Arora International Gatwick. The keynote speaker was Surinder Arora, owner and chairman of Arora International, Britain’s largest family-run independent hotel chain.
As one of the UK’s least-known but most impressive mega-entrepreneurs Surinder gave an insight into how an ambition to obtain a pilot’s licence led him into property investment and the corporate and leisure hospitality world. In an enlightening presentation he demonstrated how he overcame obstacles and proved that the hard work business ethic leads to success.
Arora International is the selected operator of the prestigious Heathrow Terminal 5 hotel.
In addition to ACCA members, fellow professionals from Sussex Enterprise, the Institute of Directors and the Institute of Financial Services attended. The Sussex president, Malcolm Bradshaw, chaired the evening. It was sponsored by Hays Accountancy and Finance and the vote of thanks was given by ACCA Council Member Clement Ebinum. A wine and canapés reception concluded the evening.