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WHAT IS TOUCHE ROSS INTERNATIONAL? munications. in today's complex multinational environment, no one can possibly know all the answers, and the wise professional makes regular use of all research facilities and data banks available to him. The last and most elusive resource of the professional is the utilization of his time. In all international engagements, the firm constantly strives to balance and blend the time and experience of its professionals to provide adequately for planning, performing, and controlling the professional procedures and administration. The cohe-siveness of an international organization is critical to the effective planning and execution of engagements, and our new management organization greatly strengthens our capacity to serve. What achievements will louche Ross International be able to point to in the future as a result of this latest reorganization of its structure? The primary one will be more qualified people in all of our offices. When you have established a requirement, as we have under our Policy Agreement, that admission of a partner in Melbourne, Manchester, Chicago, or Madrid requires the approval of our board of governors, you are telling each young professional that to become a partner he must have an exposure and an outlook that stretches beyond his national boundary. The result will be a new generation of partners who will think of themselves as part of Touche Ross International, not just of the Canadian firm, the Lebanese- firm, or the United States firm. They will seek opportunities to move from one operating entity to another, and the multinational character of our practice will take on a new dimension. Through the exercise of strong, central leadership, we will be able to focus our resources where they are needed. This means that throughout Touche Ross International, we will be able to grow faster and provide superior service. Each of the operating entities will have the full support of TRI in the development of its territory, and together, we will match our development with the development of multinational business. The steps we are taking now to build an effective professional capacity in Kuwait and Abu Dhabi in the Middle East are an example of the potential for the reallocation of resources to meet our changing international environment. I am very excited about the potential for a truly multinational public accounting firm that can turn both the growth of international trade and a preference for nationalism to its advantage. 6 EEC-THE CHALLENGE FROM EUROPE By WILLIAM R. S. RITCHIE, Chairman, Board of Governors, TRI When Britain, Ireland, and Denmark joined last year, the European Economic Community—the Common Market-became the most populous market in the developed world. Serving more than 250 million consumers, it is today a bigger market than either the United States or the Soviet Union, and is the world's largest overseas trader. If the Common Market's size and purchasing power establish it as an economic giant, however, its full potential will not be reached until the nine member states move closer to industrial and financial integration. Population and overseas trade, in other words, are not everything. Europe, long fragmented into warring nations, has a good distance to go before it can match the United States in output per head, in standard of living, and in sophistication of business methods. The per capita income of Americans is around $5,000 a year, for example; of Europeans, $2,500—half as much. In terms of primary energy, another measure of economic strength, the United States uses around 10 tons of coal equivalent a year per head; the EEC only 2 tons—one-fifth as much. At present, therefore, this still fragile union hardly qualifies for the role of political super-power in which some of its more hot-headed enthusiasts seem to have cast it. Indeed, a measure of modesty is fitting here, for it is only a generation since the countries of western Europe all but destroyed themselves as free people living in reasonably affluent societies. Anarchy and collapse were prevented in the post-war years by a generous and forward-looking America. The Marshall Plan envisaged the European countries drawing up their own program for revival and then acting in unity. The program should, in General Marshall's own words, be "agreed to by a number, if not all, European nations." So began the move to western European unity. Belgium, Luxemburg, and the Netherlands formed the first economic union, as the Benelux nations.Together with France, West Germany, and Italy, they set up a common market in coal, steel, iron ore, and scrap in 1952. In 1958, they merged their separate national markets into one trading
Object Description
Title |
EEC -- The Challenge from Europe |
Author |
Ritchie, William R. S. |
Subject |
European Economic Community countries -- Economic conditions |
Citation |
Tempo, Vol. 21, no. 1 (1975), p. 08-10 |
Date-Issued | 1975 |
Source | Originally published by: Touche Ross, & Co. |
Rights | Copyright and permission to republish held by: Deloitte |
Type | Text |
Format | PDF page image with corrected OCR scanned at 400 dpi |
Collection | Deloitte Digital Collection |
Digital Publisher | University of Mississippi Library. Accounting Collection |
Date-Digitally Created | 2010 |
Language | eng |
Identifier | Tempo_1975_Spring-p8-10 |