Kreston: some success stories from our clients: Tp-Link Enterprises, SENER and Daré Bioscience

We want to show you some stories of how Kreston Global members have helped their clients achieve their business goals. Today we’ll examine companies: TP-Link Enterprises, SENER andDaré Bioscience

TP-Link Enterprises Netherlands B.V.

Sector: Technology, Media & Telecoms

TP-Link is a global provider of reliable networking and wi-fi devices and accessories, distributing to more than 170 countries and serving billions of people worldwide. Its products include ‘smart’ bulbs, plugs and cameras for people’s homes and cloud solutions, routers and high-speed wired and wireless networking for businesses.

TP-Link UK’s group auditor is Kreston Reeves, led by Peter Manser. During 2020, the company carried out a restructure. This meant that TP-Link NL needed a group audit to reflect the new corporate structure and Kreston Reeves referred the company to Van Herwijnen Kreston (VHK). After a short proposal process, TP-Link NL appointed VHK as its group auditor. They are also advising on income tax assessment, general tax matters and our Dutch firm Bentacera is assisting in transfer pricing support and documentation.

This successful outcome demonstrates the strength and reach of the Kreston Global network. It also shows how the network can help smooth the changes many companies have to make following the UK’s departure from the EU.

“We were pleased to be able to help TP-Link change its group audit process so effectively and efficiently. Sharing and transferring the necessary data and documents was straightforward as Kreston firms are part of the same, secure system.”

Olivier Walravens, from Van Herwijnen Kreston

“We’re very grateful to Kreston for making this major change so ‘smart’. It was achieved in good time and they took care of everything for us. Using firms within the Kreston network has undoubtedly saved the company time and money.”

Chris Sun, International Accountant at TP-Link NL

SENER, China

Sector: Manufacturing & Automotive, Technology, Media & Telecoms

SENER is a private engineering and technology group founded in 1956. It seeks to offer its clients the most advanced technological solutions and enjoys international recognition for its commitment to innovation, its quality and for its independence.

SENER has nearly 2,500 professionals across its centers in Algeria, Argentina, Brazil, South Korea, Canada, Colombia, Chile, China, the United Arab Emirates, Spain, the United States, Morocco, Mexico, Poland, Portugal, the United Kingdom and South Africa. It accomplishes Aerospace and Engineering and Construction activities and has industrial holdings in companies working in the field of Energy and Environment.

In 2013, SENER Group created SENER (Shanghai) Systems Company Limited to provide high quality services to Chinese clients. SENER (Shanghai) needed finance & tax consultation, accounting and personnel services to support its development. It engaged Brighture to provide these services in 2016.

Brighture provides SENER with their management accounts, tax compliance and reporting, as well as tax advisory and planning services to help mitigate tax liabilities.

“We are very focused on ensuring that we understand our client’s needs so we can be responsive and proactive with advice and solutions. Our job is to help improve our clients’ efficiency and ensure we help grow their business.“

“With respect of opinion of Brighture service, we are more than satisfactory with the service provided by Brighture. We have very easy communication with Brighture. All the reports prepared by Brighture are well organized, sent in time. The data are all correct, etc. In one word, we are very happy working with Brighture.”

Mr.Guangwu Liu, GM at SENER (Shanghai) Systems Company Limited

Daré Bioscience, Inc., San Diego, USA

Sector: Life Sciences & Healthcare

Daré Bioscience is a clinical-stage biopharmaceutical company committed to the advancement of innovative products for women’s health. The company identifies, develops and brings to market a diverse portfolio of therapies. These aim to expand treatment options, improve outcomes and convenience in areas including contraception, sexual health, and fertility.

The company was founded as a private enterprise but with the aim of becoming a larger public company in the future. Kreston Global member CBIZ MHM had already been working with the CEO and CFO of Daré Bioscience over many years when they were on the board of directors and audit committee of a not-for-profit client.

When the time came for a reverse-merger into a public company on NASDAQ, Daré Bioscience needed two years of financial statements audited promptly. CFO, Lisa Walters-Hoffert called her CBIZ MHM contact, Mike Lichtenberger, who quickly arranged for the audits to be completed promptly. This kept the merger transaction ‘alive’, and it went ahead successfully. CBIZ MHM later helped out to ensure that all of the company’s SEC filings were completed on time.

Mike Lichtenberger, Managing Director at CBIZ MHM, LLC, commented:

It’s a great feeling to help a client solve issues that could potentially cause problems. The team here did a great job and we are very pleased that the company achieved this mile-stone and looks forward to an exciting future.”

“We are truly grateful to Mike and his team for acting so quickly and professionally when we needed their assistance the most. They went ‘the extra mile’ for us multiple times during and after the merger process. Our company would not be where it is today without their timely support and guidance.”

Lisa Walters-Hoffert, CFO of Daré Bioscience, Inc.

Of course, there are many more stories like this, and you can find them all on Kreston’s website:

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