The Autumn conference season for the ACT has been in full swing around our network from the UK to Hong Kong and today we opened in Dubai for our 8th year, this time billed as the ACT Middle East Annual Summit. Fashions in conference names seem to go in cycles from forums (should that be fora?), summits and exchanges, to roundtables, seminars and retreats all the way back to, well, conferences! I am sure there is research somewhere that tells us what delegates think of the name but in truth, it’s the experience that counts and today has been one
The second leg of my Asian double header brought me and the ACT team back to one of our favourite conferences, this year renamed as the Asian Treasury Leaders’ Forum. Since we moved to a full day format 3 years ago, the event has gone from strength to strength on several different levels. There’s the backing we get from the local treasury bodies, the positive endorsement of other local and regional professional bodies and trade associations and, of course, the support of the HKMA, Hong Kong’s central bank. Most of all the enthusiasm from the treasury community locally and further
This is the first instalment of an Asian double-header from Singapore and then Hong Kong, representing the ACT, meeting our members and students and a whole bunch of other people too! And meeting taxi drivers as well….and like taxi drivers everywhere, the ones in Singapore are not short of an opinion! So, you ask, what’s business like? Well, they say, given that next week is the night F1 race which shuts much of the city centre and no-one in Singapore (apart from the Government) is that fussed, it could be better! In seriousness though there is a nervousness in SE
ACT Middle East Technology breakfast, 10 May 2016 In the latest of a series of ACTME technology driven breakfast seminars more than 65 treasurers, consultants and systems vendors (including from our sponsor, Kyriba) enjoyed a sumptuous breakfast at the Four Seasons Jumeirah before getting down to some serious work; a pity, as the gardens and pools are seriously tempting! The session was centred on two key themes – the continuing importance to every business and organisation of cash and cash flow and demonstrating the real value of treasury management systems in addressing the management of those flows. The real debate
Without question the best event the ACT has held on the Continent, bar none. Why do I say that? Simple, really: a terrific line up of highly experienced and committed speakers, a series of topics that got to the core of treasury concerns, some serious networking and for the ACT team (apologies to vegetarians and pescatarians), ridiculous meat consumption at a classic Dusseldorf Brauhaus! To open the day up, Rather cheekily we asked our continental audience which way they would vote, if they could, in the Brexit referendum. Overwhelmingly the vote would be IN; even more cheekily we asked them if
Measuring the benefits to the business. The Al Tayer Group operates over 200 stores in the Middle East and has successfully introduced more than 80 brands to the region. When I joined Al Tayer in November last year, a Treasury Management System (TMS) provider had already been identified through an RFP process. My predecessor had done a thorough job with this, ensuring that the chosen software provider was well suited for the Group’s requirements. I cannot stress enough the importance of this – if you meet your company’s specific needs, you can avoid unwarranted costs and ensure a much smoother
Older treasurers (and possibly younger ones) will recall the days when a bank mandate for a company was a fairly simple affair. There would be panels of signatories and payments were controlled usually by the seniority of the staff. Senior managers gained confidence that they had the final word on cash leaving the firm. That confidence was probably misplaced. Many individuals at different levels can bind the firm with purchase orders, and in fact control should be at that level rather than the actual payment authorisation. Dealing mandates were rarely used; dealers at banks usually had a personal relationship with
An exposure draft has recently been issued which will likely form the basis of a replacement for IAS 39 and should simplify the standard that has caused accountants and treasurers great difficulty over the years.