Recent International Engagements
Following is a summary of some of the recent international engagements we have completed or are currently performing for our clients. LarsonAllen is an independent member of
Nexia International, a top 10 worldwide network of independent accounting and consulting firms. Founded in 1971, Nexia provides a global team of independent auditors, business advisors, and consultants throughout 97 countries.
| Advisory Engagements |
- As a result of work conducted in Costa Rica, an individual Canadian client received a portfolio of thinly traded securities in a U.S. company. LarsonAllen Financial, LLC helped find a market where the client’s stocks could be sold.
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- An Australian company considering the acquisitions of several U.S. ethanol and bio-diesel producers needed help evaluating the recommended structure for the acquisitions and the due diligence related to the transactions. We developed the overall corporate structure for the U.S. acquisitions and assisted in evaluating the quality of the financial results of the companies acquired.
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| Assurance Engagements |
- An expanding ceramics and porcelain tile producer out of Chicago, Illinois needed assistance preparing for the conversion to International Financial Reporting Standards (IFRS). The organization’s parent company is Italian and it had recently merged with a sister company located in the United States. We helped the company fully convert to IFRS and conducted the review and audit.
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- We annually perform a consolidated audit in accordance with U.S. generally accepted auditing standards (GAAS) for a manufacturing and distribution company headquartered in the Midwest. Our client has three wholly owned subsidiaries in Germany, Mexico, and the United Kingdom, which has its own subsidiary in France. The business prints labels and sells labeling equipment to printers throughout North America and Europe. With an affiliate’s help, the audits for the international subsidiaries are completed in accordance with U.K. GAAS. Those auditors also complete additional agreed-upon procedures, so we can issue a report in accordance with U.S. GAAS. We also convert the financial statements from compliance with IFRS to compliance with U.S. generally accepted accounting principles (GAAP).
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- In accordance with U.S. GAAS, we annually perform the audit for a manufacturing and distribution company that designs, assembles, manufactures, and distributes industrial products. We also prepare the client’s financial statements. The organization operates in the United States and has subsidiaries in Canada and Australia.
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| Tax and Consulting Engagements |
- A high-tech company based in Arizona was seeking a new accounting firm that understood international business and had significant experience in the countries where it conducts business: Costa Rica, the Philippines, Czech Republic, and the United Kingdom. In less than one week, we were able to work with our Nexia contacts to deliver a detailed per-country analysis of the company’s tax filing obligations and reporting requirements. As a result, we are currently conducting the annual audits and tax engagements on a global basis.
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- Working closely with a Nexia firm in Toronto, we demonstrated that a U.S. group that provides on-set tutors and studio teachers for child actors was not liable for taxes pursuant to the U.S.–Canada income tax treaty. The combination of our expertise resulted in the elimination of our client’s Canadian tax liability.
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- Through a local attorney who represents an Arabian horse breeding operation based in Florida, we are providing tax planning assistance to permanently move a family from the United States to Panama. Our Nexia contacts in Panama are coordinating the local tax work, and we are assisting with the expatriation.
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- We are coordinating the tax filings for our Orlando, Florida client completing the master plan for Macau’s City of Dreams project. Because our client exports significant lighting and technology to Macau, we met with our Nexia colleagues in Hong Kong to work through the complex taxation issues.
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- We developed a global tax strategy for a U.S. engineering group with rapidly expanding business operations in Hong Kong, Singapore, and Shanghai. With the help of our Asian Nexia offices, we provided our client with a comprehensive report detailing what actions needed to be implemented immediately and what needed to be considered in the future based on recent changes to U.S. tax regulations and the new 2008 China tax laws.
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- A client wanted to expand their Asian operations and utilized our Nexia contact in Singapore, who offered legal and tax counsel on their expansion.
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- A client in the southern United States that provides training for sales associates throughout Latin America used Nexia offices in eight Latin American countries to consolidate their tax information and compile it in a cohesive financial reporting package.
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- Our Nexia relationship was essential in working with the estate of a British citizen who owned property in Florida. The combination of professionals in the United States and the United Kingdom ensured the proper filing of estate tax returns and taking full advantage of the U.K.-U.S. estate tax treaties.
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- A client in the telecom industry was referred to our Nexia affiliate in Mexico in order to resolve an issue dealing with the country’s value-added tax. Modifying the language of the contract made it possible to save the client millions of dollars annually.
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Contact us for more information.