AI Magazine Issue 8 2018

22 Acquisition International - Issue 8 2018 Vargas Alencastre, Garcia & Asociados is a multidisciplinary firm of accountants, auditors, lawyers and economists. In May, they were named among the winners of Acquisition International Magazine’s Global Excellence Awards, a programme designed to highlight the extraordinary achievements of businesses around the world, with the title of Best Audit & Tax Consulting Firm in Peru. We spoke with Carlos Vargas Alencastre, CEO, and Alexandra Del Castillo, Marketing Assistant, to find out more about the business, and how they have driven their success. member of the highly-esteemed Geneva Group International (GGI), an alliance of independent firms in 118 countries, Vargas Alencastre, Garcia & Asociados have established themselves as one of the leading multidisciplinary multi-sector firms in Latin America. Offering a broad selection of services, from administrative audits, and business process services (BPS) outsourcing, to tax compliance and due diligence, they are considered capable, detail- oriented and goal-driven practitioners in their field. In their words, Vargas is an “audit firm with a modern approach to processes and taxes”. Carlos explains that, at the heart of the firm, lies a passion for exceeding expectations, “clients and peers alike recommend our services. We also utilise an internal quality control system that guarantees the fulfilment of those services.” This dedication to their trade is in aid of a greater mission; building on the foundation that being a member of the Geneva Group offers, Vargas Alencastre, Garcia & Asociados have plans to be the best firm of the kind in Peru - the leading expert in accountancy, auditing, and legal consultancy and advice. To achieve this, Vargas Alencastre, Garcia & Asociados have created an internal culture that rewards staff, and encourages personal and professional development, “We have a very good staff management, encouraging the personal and Company: Vargas Alencastre, Garcia & Asociados Website: vagperu.com Address: Av. Manuel Olguín 501, Oficina 602, Edifico Macros, Santiago de Surco, Lima, Peru Telephone: +51 14364612 Swiftly Becoming the Leading Audit & Tax Consultancy Firm in Peru A 1806AI78 professional development of our employees and reward the ability and good performance.” Naturally, the path to becoming the leading expert in Peru is not without its share of challenges – though in every challenge lies an opportunity for further growth, “We have to be proactive in promoting the practice to achieve the objectives of planned growth.” Using their excellent client reputation, Vargas has expanded into new sectors and acted as an advocate on behalf of numerous high-profile firms, including; Pirelli, Proctle & Gamble, Sabre. In this capacity, they have acted as the expert for foreign entities looking to enter the Peruvian market, being recognised as the firm of choice on a truly global corporate landscape. As for the future of the industry, Carlos highlights the paradigm shift occurring in the auditing industry, “We predict that the process audit will become complimentary to the traditional audit approach (TAA). There will likely be a further shift on the back of this change in approach.” Indeed, this shift from a traditional audit, a focus on function over process, has been happening over the last couple of years, as the core business environment has changed dramatically. Indeed, modern auditors are moving towards risk-based, value-add and process auditing that requires, amongst other things, knowledge of the internal structure of management. Essentially, auditing is becoming more thorough and cost- effective, considering the internal machinations of the business and the potential external risks, and not simply the surface results and procedures. It’s a shift that has become dramatically overdue as the business environment becomes more complex. Indeed, by being ahead of this curve, Vargas Alencastre, Garcia & Asociados are positioning themselves, singularly, as the authoritative voice in these alternative auditing techniques. This, among other reasons, is why they were recognised in Acquisition International’s Global Excellence Awards. “We have to be proactive in promoting the practice to achieve the objectives of planned growth.”