Netherlands-based company audited by TGS member firm in RomaniaBusiness advisory Consulting
Ruud Broer from itsme and Niels van Raak from Vermetten
itsme engages auditors from the TGS network in the Netherlands and Romania
The international company itsme is a client of Vermetten accountants and consultants. When itsme was looking for an accountancy firm in Romania, Vermetten called in the expertise of TGS Romania, an accountancy firm and member of the TGS network.
Get to know itsme
itsme supplies electrotechnical and mechanical products to industrial end users and the manufacturing industry. These include control systems, switchgear, drives, lighting, cables and cable support systems. In addition, itsme is a knowledge partner in the field of industrial automation challenges and logistic processes.
The firm provides clients with independent technical advice and helps to optimise processes. The head office and distribution centre are located in the Netherlands and the firm is also in Belgium, Spain and Romania.
In 2021, itsme won the Dutch Industrial Supplier of the Year Award for the Best Parts & Process category.
Auditing annual accounts
Since 2007, itsme has been active in Romania under the name ES Elektro Romania. ES Elektro Romania now has two offices and over thirty employees. Ruud Broer, reporting manager at itsme, explains: “We are bound by law to have our annual accounts audited. I work with Suzanne Snoeijs from the TGS member firm, Vermetten. Every year they audit our annual accounts and issue an auditor’s report. We enjoy working together because our no-nonsense approach fits in perfectly with the Vermetten mentality.”
International network TGS
“Our business in Romania has gone so well over the past two years and grown to such a size that we’re also required to submit audit reports in Romania. We asked Suzanne for advice, and she told us that Vermetten is a member of TGS, an international network of audit, accounting, advisory, tax and legal firms which allows Vermetten to help Dutch organizations do business abroad. It puts organizations in touch with affiliated firms all over the world.”
Two accountants from Vermetten, Rob van den Bosch and Niels van Raak, are closely involved in TGS, participating actively in workgroups and committees.
Communication with TGS Romania
TGS Romania was created in 2019, with offices in Bucharest. They focus their expertise on Medium to Large Firms in Romania. The firm has recognised experience in local and international practices and regulations.
Niels: “When my colleague Suzanne asked if I wanted to assist itsme in doing international business, I told Ruud about the advantages of our TGS membership and how we can appeal to all member firms. Like all TGS firms, TGS Romania goes through stringent annual quality checks and provide a highly cost-effective alternative to other firms. Ruud wanted to meet the accountants of TGS Romania, but since all trips abroad were restricted because of the Covid-19 pandemic, we scheduled a video call.”
We decided to work with the auditors of TGS Romania because there was a strong, comfortable relationship.
Ruud Broer, Reporting Manager at itsme
Ruud, from itsme: “In such collaborations, I think it is important that there is a strong, comfortable relationship. You work closely together and share confidential information. So, it has to feel right and be based on trust. This was the case during the first video call, and we therefore decided to work with the Romanian accountancy firm, assisted by Niels and Vermetten.”
“TGS Romania has carried out two audit assignments for us so far,” said Ruud. “In the process, the accountants from TGS Romania worked together with our own controller in Romania. I am involved indirectly and am only called in if there are ambiguities or when extra guidance is needed. This also applies to Niels: he mainly keeps an eye on the timelines.
The collaboration with TGS Romania is very good: the accountants are thorough and very precise. The control assignments are carried out well and they deliver clear reports that meet our requirements.”
Doing business internationally?
If you want information about TGS or are interested in doing business internationally and using the expertise of one of the TGS member firms, we are happy to assist you and introduce you to our worldwide network of audit, accounting, advisory, tax and legal service firms.
7 Takeaways from the TGS team at the African Congress Of Accountants (ACOA 2023)
A Global Vision for Africa: An Interview with Fabrizio Aldrighetti