What’s on International Treasurer’s radar screen this week.
Several topics emerged from the International Treasurer editorial meeting this week produced a few topics that will be fleshed out in the coming weeks. There is continued China interest in terms of regulation, tax and accounting. Also, a question IT has covered before regarding best in class and best practice will be a topic for the upcoming NeuGroup meetings. Finally, another topic of interest for the NeuGroup’s Engineering & Construction peer group is the “Next Eleven” economies.
PCAOB in China. Recently US and Chinese regulators met in Beijing to discuss audit oversight cooperation. That the PCAOB and SEC met its Chinese counterparts goes hand in hand with recent collaboration of countries on taxes and other issues. This conceivably could help Western MNCs do business there as business partners and JVs grow more forthcoming. How will this change the way treasury does business in the region? It might be less opaque, that is for certain.
Best in Class, Best Practice.
What do the above-mentioned “best in…” mean for companies? To be sure, all companies are different and one company’s best practice might be another’s worst. Where can treasury just draw a line in the sand and create and follow processes that just best for them?
The Next Eleven.
There has been no shortage of nicknames for developing regions that are hot. There were the Asian and Celtic Tigers, and more recently BRIC countries. Now there is the Next Eleven, a term coined by Goldman Sachs. Treasury operations in the Next Eleven will be another topic coming up for the NeuGroup’s fall meetings. Specifically, peer group members will discuss how to manage treasuries there, how to get cash in or out, bank relationships and managing bank accounts.