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In response to the increase in multinational business organizations and the growth of international trading communities, the public accounting profession has re-examined its role in the world business community. These developments are the subjects of the opening set of articles in this special international issue of TEMPO. The authors are Russell E. Palmer, managing director and chief executive officer of Touche Ross International and managing partner of Touche Ross in the United States; William R. S. Ritchie, chairman of the board of governors and managing partner of Touche Ross in the United Kingdom; and Ian H. Bell, vice-chairman of the board of governors and managing partner of Touche Ross in Canada. To set the firm's perspective on these developments—and on the contents of this special issue—Russell Palmer discusses the thinking behind the new firm organization, Touche Ross International, its purpose and objectives. Next, William Ritchie analyzes the potential of the Common Market in light of Britain's recent membership. And finally, Ian Bell tracks the growth of multinational corporations and their increasing conflict with the political states in which they do business. WHAT IS TOUCHE ROSS INTERNATIONAL? An Interview with RUSSELL E. PALMER, Managing Director, Touche Ross International What is going on in the world today that prompted Touche Ross to create its new international organization? Three factors. First, there is a tremendous growth in the volume of international business. Large and small companies everywhere are becoming more involved. Their need is to be able to work through their public accounting firm and be served wherever they operate. Second, there is an equal increase in the complexities of conducting business in many countries. Accounting standards, government regulations, tax laws, and business practices are unique in each country. To deliver effective service, firms serving international interests require the experience, understanding, and expertise that can only come from professionals who are at home in each national environment. Finally, nationalism grows stronger in every part of the world. Whenever possible, corporate managements turn first to professionals of their own country to direct the services they require worldwide. They prefer that these professionals be influential leaders in an international firm —not mere branch representatives of foreign-dominated organizations. How is Touche Ross International a response to these developments? The three factors appear to set up conflicting requirements. The first calls for coordinated central leadership and direction of client service from the perspective of the client being served; the second places emphasis on unique
What is Touche Ross International?
Palmer, Russell E.
Touche Ross International
|Abstract||Photograph not included in Web version|
Tempo, Vol. 21, no. 1 (1975), p. 04-08
|Source||Originally published by: Touche Ross, & Co.|
|Rights||Copyright and permission to republish held by: Deloitte|
|Format||PDF page image with corrected OCR scanned at 400 dpi|
|Collection||Deloitte Digital Collection|
|Digital Publisher||University of Mississippi Library. Accounting Collection|