Member firms of Chinese headquartered Key Will Group are starting discussions to revive the international association which has gone mute in the course of last year, International Accounting Bulletin has learnt.
Key Will Group was originally established in 2011, and in financial year 2013 it reported $34.8m total fee income making it the 23rd largest international association in International Accounting Bulletin’s 2014 world ranking.
But in the course of 2014 the international association went off the radar as its leadership ceased all activity.
International Accounting Bulletin has now learnt that Key Will Group chairman, and one of its founders, Alex Chu has resigned effective 30 June 2015, for personal reasons.
Mancy Chan, formerly registrar of membership of the association, has taken the interim chairmanship.
Member firms have launched a bid to revive the association and suggested a rebranding and incorporating the organization in London or in the US, IAB understands.
However some members suggested that the future lies in Asia and the association would have more opportunities in keeping its headquarters in that part of the world.
It was also suggested to organize a members meeting to discuss a common agenda. Members proposed that the agenda should address issues such as: election of a new leadership, updating list of members, location of headquarter and structure of the global organization, new name and branding, goals and objectives of the association, membership fees, online presence, members conference.
It is understood that in response to the members’ initiative William Chan of Key Will Business Advisory Services, a founding member of Key Will Group, has voiced his willingness to play a key part in rebuilding a new global accounting association.
