Chapter 447: Standard Accounting Firm

The best relationship between a boss and employees is not unconditional trust but constant vigilance to prevent them from going astray. The truth is that human nature can be dark, and without supervision, corruption will always arise. Appropriate oversight acts as a reminder and care for subordinates, protecting them from making mistakes that would bring pain to loved ones and joy to enemies.

Xia Yu had also considered this issue.

His business empire was already vast, and it would only grow larger. As the boss, he didn't have the time or energy to oversee every detail. Each company would be handed over to a different subordinate for management.

But what if a subordinate deceives him?

A towering tree fears internal decay the most; a single misstep could endanger the entire tree.

To avoid this, Xia Yu planned to establish his own monitoring and inspection mechanism. Inspired by governmental organizational strategies, he decided to set up an accounting firm that would report directly to him. He had already named it Standard Accounting Firm.

Each company's finances would still be managed by their respective teams, but in addition, Xia Yu would appoint the Standard Accounting Firm to audit their accounts and strictly investigate corruption cases.

To prevent the auditing personnel from being bribed, Xia Yu devised a system of accountability for audit results. Audit teams would be randomly formed and assigned companies to audit through a drawing system, ensuring the firm's employees would be wary of being bribed.

Since starting to restructure his companies, Xia Yu had already engaged with Global International to recruit elite accountants and talents experienced in managing accounting firms.

Over the past few days, after personally interviewing candidates, Xia Yu's firm had grown to sixty-seven professionals, all experts or veterans with over a decade of industry experience and specialized skills.

"Knock, knock!"

"Come in!"

"Boss, this is my proposal for the company's development plan. Please have a look."

The general manager of Standard Accounting Firm, Liu Yuesong, entered with a folder and presented it to Xia Yu.

"Alright, I'll take a look. Have a seat."

Taking the folder, Xia Yu nodded and began reading.

Liu Yuesong, aged forty-five, waited patiently. He was previously a vice president at the Singapore branch of PricewaterhouseCoopers, one of the Big Four accounting firms, but had switched to Xia Yu's new company to serve as its general manager, responsible for building the Standard Accounting Firm from scratch.

In the ten days since joining, Liu had left a strong impression on Xia Yu with his outstanding management and accounting skills, making him well-suited for the role.

"Your development plan is generally good, but I've made some adjustments. Follow these revisions for execution."

Xia Yu handed the folder back to Liu Yuesong, who nodded and took it, ready to implement the changes as instructed.

For the Standard Accounting Firm, Xia Yu's vision extended beyond his personal use. He wanted to build it into a world-renowned accounting firm, ideally becoming the fifth global powerhouse alongside PwC, Deloitte, KPMG, and Ernst & Young. After all, each of the Big Four firms boasts annual revenues of over $25 billion and enormous influence.

Though achieving this goal would be challenging, a lofty target is necessary.

"Alright."

Liu Yuesong nodded, took the folder, and left to organize his team.

"By the way, Manager Liu, since the company now has sufficient personnel, don't start external business yet. I have a specific task for you."

"Boss, please instruct."

"Currently, some of my companies are undergoing splits and mergers, and their financial records are quite messy. Over the next two months, the firm's task is to assist these companies in organizing and clearing up their accounts, aiding in their restructuring efforts."

Xia Yu handed Liu a detailed plan for the reorganization.

"Understood. I will immediately allocate the manpower."

With the firm now staffed by top-tier accountants, Xia Yu was confident that the companies would be thoroughly audited, speeding up the process of their restructuring.

With the accounting shortfall addressed, one last gap remained: setting up an exclusive law firm to handle all legal affairs for the Jiuding Group, providing robust legal support.

The formation of the law firm occurred simultaneously with the accounting firm, but lawyers were trickier to recruit than accountants. Top lawyers either had their own firms or were partners in existing firms, making it challenging to poach talent.

Faced with these difficulties, Xia Yu decided to acquire entire law firms rather than just individuals.

Over ten days, five suitable law firms were identified for acquisition.

In Hong Kong, wealthy individuals often had exclusive lawyers who favored working for them due to the generous pay and rapid path to fame. These lawyers, in turn, gained prestige from working with high-profile clients, creating a virtuous cycle where their rates increased as their reputation grew.

Since Xia Yu did not restrict external work during downtime, and his firms offered high salaries, the acquisitions proceeded smoothly. After careful evaluation, a well-known lawyer named Wei Lu was appointed as the general manager of the Standard Law Firm.

Xia Yu informed all company general managers that the Standard Law Firm would now handle all legal support, addressing any legal challenges faced by his companies.

With the establishment of Standard Accounting Firm and Standard Law Firm, Xia Yu felt a sense of relief. His busy days passed swiftly, and before he knew it, it was October 1st...