R S Nambi
(Practising Chartered Accountan)
04 March 2018
Good Morning . We are in the process of aggregating all small sized firms to create an all India Audit organisation and the response to our appeal has been overwhelming .Our firm has a visionary leadership , clear roadmap for growth & development and participatory revenue sharing model while guaranteeing security on your existing earnings .
Please find the MOU as regards our merger proposal for your perusal.
At this point, let me update you on certain matters w.r.t. merger.
The main thrust for this merger initiatives is to create an all India audit infrastructure , create more growth opportunities for merged firms and to get international affiliation. We have secured in formal nod from a fastest growing international accounting firm for this initiative .In short our objective to merge are two fold primarily. First, to have a pan India presence to enjoy the fruit of large size by tapping hitherto unavailable opportunities. Second, to have an international affiliation and capitalise on the international business available presently to limited few.
Very recently, my firm at Chennai and another firm at Kolkatta have merged with RDA & Associates whose HQ is at Bhubaneswar, main reason being Bhubaneswar is a backward state and stands on priority as regards audit allotments . On 8th November to be precise our merger was formalised . Before our merger, we had a very detailed and threadbare discussion and arrived at the understanding, which was reduced into writing as MOU. The appended document is the said very MOU. Moreover the pooled expertise can increase your client base considerably as bigger audit organisations gives added confidence in the minds of the clients and better fee negotiation power. After 8th Nov 2017 few more firms from thane Andhra Gurgaon Gauhati and kolkatta are merging their firms with us. Please note that all these firms are highly successful already and they understand that going global is the way to brighter future rather than operating in a small way.
With this intent in our hearts, we have treaded the path of merger. Presently we are eight partners having presence at Bhubaneswar, Cuttack, Sambalpur, Chennai, Trivandrum and Kolkata. Our turnover post merger has gone upto 28.50 million INR. We seriously look for more partners and more presence. We believe in "THE MORE THE BETTER" and "BIGGER THE BEAUTIFUL"" .
In our merger proposal you would find the following salient features
1) 100% protection of your existing income
2) Weightage for your Experience (Practice experience only)
3) Weightage for your seniority as per CAG Formula
4) Fairness in allocation of CAG Audit assignments by rotation method
5) Pooled marketing efforts for the growth of all branches
6) Profit sharing ratio on the basis of points earned by merged firms based on CAG FORMULA for audit allocation
7) Pooling of resources for improving the quality of life of partners, partners families , staff and planning of incentives for motivation
8) Reward for efficiency in profit allocation and
9) Commitment of all towards welfare of all members
10) Complete control over fee management at unit levels.
I am also sharing with you our firm profile to have a glimpse of our strength. I must point out here that the firm profile is not the final and it is still in the making.
Kindly go through the same and do let me know your views. I will appreciate if you also share your profile and vision.
Thank you and looking forward to your positive response.
R S Nambi
RDA & Associates(Formerly R S N & Associates)
Sri Raghava Nilayam, New No 28/Old No 38, West Circular Road
Telefax & Voicemail: +91-44-24620030/32902883
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