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BDO Richfield Advisory Limited
Bringing accountability and transparency to the 2008 Thailand Property Awards
Thailand Property Report – 8 August 2008
BDO Richfield Advisory Limited has been engaged by the organisers of the Thailand Property Awards 2008 to oversee the nomination, entry and judging process, and to ensure all is transparent and fair.
This brief Q&A provides an insight into the company and its expertise.
1. Who is BDO?
BDO International is a worldwide network of public accounting firms, called BDO Member Firms, serving international clients. BDO stands for Binder Dijker Otte; the names of the major founders of the network. Each BDO Member Firm is an independent legal entity in its own country.
2. Where is BDO from?
Germany, the Netherlands, UK, Canada, USA – the network was founded in 1963 when accountancy firms from these countries joined together to create the BDO International network that exists today.
3. How does BDO measure up?
BDO International is the world’s fifth largest international accounting and advisory network with over 620 offices in 110 countries and more than 30,000 professionals.
4. What about BDO in Thailand?
BDO Richfield Limited, the Thailand member firm of BDO International, is one of the largest accounting and advisory firms in Thailand.
Their associate firm, BDO Richfield Advisory Limited, specializes in providing tax and legal services to international clients operating in Thailand and the Asia Pacific region. In the Asia Pacific Region they are supported by a network of over 80 offices.
BDO Richfield Advisory Limited is promoted by the Thailand Board of Investment to provide advice and assistance on tax and legal matters.
5. Why BDO?
BDO Richfield Advisory brings a wealth of experience and international expertise to the awards process, ensuring participants that the process of nomination, entry and judging is transparent and fair.
For the Thailand Property Awards 2008, Paul Ashburn, Senior Partner of BDO Richfield Advisory Limited, takes the lead role in supervising the entire nomination, entry and judging process. Paul has over 22 years of experience providing professional advisory services, including more than 10 years in Thailand, and has been involved in the Thailand Property Awards since its inception.
Entries are now under way
After a busy period of nominations for the 2008 Thailand Property Awards, the entry phase is now under way, and already entries are being received.
Nominations closed in early June with a record number of more than 360 companies having been nominated in the 20 award categories. All nominations where then audited by BDO Richfield Advisory Limited. After a thorough process of checking those nominated were eligible for the respective award (checked against the eligibility criteria), and that they were nominated in accordance with the rules (in other words, not self-nominated), the final list of potential entrants was confirmed by BDO Richfield in early July and sent to the event organisers Ensign Media.
“Over 360 companies were nominated for awards this year – a considerable increase on last year. However, after a thorough check by BDO Richfield there were found to be a number nominated incorrectly or that could not meet the eligibility criteria for one reason or another, and therefore had to be excluded from the 2008 awards,” commented Duncan Worthington, Managing Director of Ensign Media.
All companies have now been contacted – either with the good or bad news – and entry forms issued to all those eligible to enter.
“BDO Richfield's audit was vital to ensure the process is fair and there is a level-playing field for all. As a result, we expect the competition to be touch again this year. We have already received some entries and expect a large number of entries in all categories,” said Worthington.
Once submitted, all entries will again be thoroughly checked by BDO Richfield, after which they will be judged by a large team of nationwide judges. The organisers will submit a list of judges to BDO Richfield for approval. The judges will remain anonymous, and will not know who the other judges are, ensuring no collusion in their judging. BDO Richfield will check the list of judges to ensure there are no conflicts of interest in which awards are judged by which judges, and will then approve a final list of judges before the judges are contacted.
“It sounds a little complicated, and it is. It needs to be this way to ensure all is above board and fair. We are grateful BDO Richfield are doing a very thorough job,” added Worthington.
After the first round of judging, the top 5 in each of the development categories will then be subject to a site visit by a local team of judges, allowing further evaluation of the project.
For more details on the awards system and the gala dinner, visit the website at www.thailandpropertyawards.com or contact Khun Kanitta on events@ensign-media.com.
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