I enjoyed the opportunity to work with other IR Global members in Asia Pacific to publish this guide on doing business in Asia Pacific: http://ow.ly/bD5730eYPDV. I look forward to receiving thoughts from others on doing business in their country.
IR Global is the fastest growing professional service firm network in the world with 850+ members, providing legal, accountancy and financial advice to companies and individuals across 150 jurisdictions. The group is renowned for its high ethical standards, innovative approach and niche expertise.
In November 2016, the group formed a Corporate Social Responsibility (CSR) program in support of Sinchi, a non-profit, which promotes human rights and the preservation of indigenous culture. The mission of the organisation is to highlight the importance of indigenous culture/knowledge and to uphold the UN’s declaration on the rights of Indigenous Peoples (UNDRIP).
Seftcorp Law is delighted to join this initiative as a supporter of Sinchi. For further information see https://irglobal.com/article/seftcorp-law-joins-the-ir-global-sinchi-csr-programme-a546.
From 9 – 11th October 2016 Grant attended the IR Global annual conference in Amsterdam. See https://irglobal.com/. One of the highlights was a fascinating presentation from Jimmy Nelson, a world renowned photographer of indigenous cultures. The conference provided great opportunity to renew acquaintance with or meet leading legal, accounting and financial advisers throughout the world. It is apparent from discussions at the conference that the forces of change and disruption occurring in Australia are also occurring in most parts of the world. IR Global and its members appear well equipped to meet those challenges, through their international outlook. A pleasing outcome of the conference was the further development of the Asia-Pacific practice group, in respect of which Grant is a committee member. This practice group will facilitate greater connectivity and understanding between the various IR Global members throughout Asia-Pacific.
The 2016 Global Risk Report published by the World Economic Forum provides some interesting insights on the big risks currently being perceived globally. Top of the list for risks with the biggest perceived impact is the failure of climate change mitigation and adaptation, ahead of weapons of mass destruction and then water crises. Large-scale involuntary migration was also rated among the top five for impact, as was severe energy price shock (increase or decrease).
In terms of the risks rated most likely, top of the list was largescale involuntary migration, with last year’s top scorer – interstate conflict with regional consequences – giving way to the environmental risks of extreme weather events and the failure of climate change mitigation and adaptation, followed by major natural catastrophes.
For Australia, top of the risk list is an asset bubble arising from over-evaluation of property and the recent equity market turmoil in China and potential spillovers into the other countries. This risk is top in seven economies of East Asia and the Pacific - Australia, Cambodia, China, Hong Kong SAR, Myanmar, New Zealand and Thailand.
For further reading see: http://www.weforum.org/reports/the-global-risks-report-2016
Competition Law in Australia is set for a major shake-up, with the Commonwealth Government advising they will support most of recommendations of the Harper Review on competition law. Some of the recommendations still require further review and consultation with the States and Territories and other stakeholders. Amongst the highlights, the Government is conducting further consultation on the recommendations concerning misuse of market powers, retail trading hours and taxis. See http://treasury.gov.au/harperreview.