03/10/2024
Who’s winning the TGS quality race?
Business advisory New members
Quality reviews enhance the credibility of international networks…and they are (can be) fun.
Just look at the picture of us fresh and smiling after a solid 9 hours reviewing the 2024 TGS Quality Review.
We use the TGS Quality review to determine a network ranking so we can present awards to the top performing firms in TGS annual conference.
We also use the TGS Quality Process for standard consistency, best practice promotion, to enhance our members’ reputations and to help our members improve. Review is the base of good advisory and in TGS, we are advisors first and foremost.
Our quality process all helps us identify risk issues that need to be addressed and strengthen cohesion among our member firms. Clinton said something like this about education but he could have been talking about the TGS quality review,
‘The more we learn from each other, the more we will earn individually.”
To grow is to grow together adopting the brand and completeing the annual TGS Quality review has had a positive impact on my firm helping us with million dollar contracts but you have to give to get. You have to participate. It's not a referral club, it's something we achieve together.
Mikail Jaman, TGS Regional Leader, Asia-Pacific
How TGS uses the Quality Review to help members compete
Consistent standards
The TGS Quality Reviews help ensure that all member firms across our network are adhering to consistent quality standards in their practices. And it’s not just for audit firms. TGS is a multi-disciplinary network and quality is important for all firms.
Consistency builds trust in the network, clients can expect the same level of quality regardless of which member firm they work with.
Best practices
Reviews facilitate the sharing of best practices and successful approaches among member firms. This cross-pollination of ideas and methods elevates the overall quality of work across the network.
There have been some star performers in TGS this year. Nizar pointed to TGS Edlund & Partners saying, ‘there is a lot to learn from this firm’. So, we’ve set an exceptional webinar with this firm so they can share the secrets to their success. Pre-register here for the webinar.
Regulatory compliance
The TGS Quality review helps ensure that member firms are complying with relevant professional standards, regulations, and ethical requirements in their respective jurisdictions. This is especially important for TGS as our firms operate across multiple regulatory environments.
It’s doubly important for us as we aim to be the leader in ESG reporting and a large part of the TGS quality review focuses on ESG standards. This is expertise, diagnostic and advisory skills that our member firms can ‘upsell’ to their clients.
Find out more about the TGS continual improvement cycle in our brochure.
Enhanced reputations
By demonstrating a commitment to an annual quality regular review, the TGS network builds greater trust and confidence among clients, investors, and other stakeholders. This enhanced reputation can lead to improved client retention and acquisition.
It is also the way we are gaining credibility to be ‘at the table’ where it counts. For example, TGS spends a lot of effort in advocacy for the professions in the EU. We are uniquely positioned as a European-based network.
Risk: identify and address issues
Reviews identify risk, inefficiencies, or areas for improvement before they become significant problems. This approach allows the TGS network to address issues promptly and maintain high standards of quality.
This is part of a general shift in international quality perspectives. If you would like more training on ISQM1, you will find webinars and courses on TGSU.
Better every day: continuous improvement
Feedback and learning opportunities for member firms. This ongoing process of evaluation and improvement helps the network members stay at the forefront of industry best practices.
The only mistake you can make is to not put into action the recommendations in your annual quality review. We understand that change is hard and that’s why TGS also has a complementary suite of ‘soft’ skill courses to make sure members put change recommendations and best practice into action.
As strong as the weakest link: network cohesion
TGS is an inspirational network. It’s owned by its members and the Quality review is a shared experience that creates a sense of shared responsibility across the network.
Our member firms know their work will be subject to a review by their colleagues. This reinforces the importance of maintaining high standards. This strengthens the cohesion of the network.
‘We are a trusted advisor’ isn’t a good strategy for your firm. Proving you are a quality advisor who is already trusted by 70 TGS firms is a good strategy.
If you would like to explore how the TGS quality review processes could help enhance your credibility, help you maintain high standards, and strengthen you competitive position in the global marketplace, reach out to begin the TGS Membership Process.
That’s where the TGS Quality Process begins. You will get direct benefit and advice that will boost productivity in your firm. And there is no obligation. The only price you will pay initially is time.
Spend 30 minutes filling in our forms and speaking to Andrew and potentially gain a million dollar contract next year.
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