One of the reasons that MSI has grown to become one of the largest and most respected international associations of independent professional firms is its meticulous selection and due diligence process.
An international professional services network or association is only as strong as the weakest link in its chain.
MSI’s pre-membership due diligence process aims to ensure that there are no weaknesses across the group and that standards are universally high.
Our due diligence process consists of:
- Existing member recommendations
- Peer review reports
- A detailed application form
- In-depth interviews with the firm’s partners
- An on-site inspection visit.
Although MSI has long-term plans to appoint a law and accounting firm in every key commercial centre, membership is carefully controlled to ensure association growth is sustainable. Candidate firms are carefully screened to ensure they meet criteria related to size, breadth of services and local reputation, and that they also share MSI’s core values.
Candidate firms are required to meet the following specific criteria:
- Full service capability
- Mid sized in their local jurisdiction based on number of partners and fee income
- Independently owned and managed
- A broadly based commercial practice
- The ability to work in English
- An English language website detailing the firm’s services
- Strong domestic focus combined with significant expertise in cross border business
- An entrepreneurial approach
- A diverse and growing client base
- Competitive charge out rates
- Focus on serving a specific geographic area where MSI does not currently have a representative member to prevent competitive conflicts
- An appropriate level of liability insurance for their jurisdiction
- Conveniently located offices for international business.
The following checks also ensure that candidate firms can meet the expected service standards as outlined in MSI’s Code of Conduct.
Firms must demonstrate commitment to:
- The highest standards of integrity, ethics, transparency, and professionalism
- High quality advice and excellent work product
- Providing responsive, flexible and better value services
- Ensuring substantial partner involvement and oversight in client matters
- The continuing professional education of staff
- Participation by senior and managing partners in association initiatives aimed at fostering the development and reinforcement of personal relationships.
Periodic reviews ensure that member firms continue to meet these exacting membership requirements, thereby ensuring only high quality firms are able to become, and just as importantly, remain MSI members.
MSI’s commitment to appointing only one member firm in each city, state or country ensures loyalty and commitment from its members and a sense of pride in their status.