Monday, August 2

“If in April 2011 you had bought a thousand euros in bitcoins, now you would have 58 million euros”

Kreston is a firm of consultants and auditors that offers quality service through 200 firms distributed in more than 100 countries and a team made up of 23,000 highly qualified professionals. Kreston International ranks 10th among the leading audit firms in the eurozone, and 12th globally

Its founder for Alicante and Murcia, José Pascual Poveda MaestresHe is an account auditor, lawyer, PhD in Business Administration, recognized columnist on business issues and has shared his profession with teaching for a long time, currently being an honorary professor at the University of Alicante.

Currently, the office It has three partners and 16 qualified professionals and its specialty is the audit of companies, city councils and other public entities, professional associations, and business and wealth consulting.

What is Kreston’s main goal?

Provide a quality service. With Kreston International we are subject to a very rigorous quality manual and this allows us to Any entrepreneur can link or create any company anywhere in the world, clearly advising him of the legal, labor, tax, dividend advantages and risks.

In fact, we have clients with partnerships in places like Vietnam, Jinjiang, Bangladesh, Hong Kong, Cairo, London, Florida, Los Angeles, Buenos Aires, Mexico DC, etc.

In addition, other partners of Kreston International refer us to other services, currently conducting Dues Diligences with Asian countries (Japan and Korea).

What services do you offer?

We are talking about traditional and specific services.

When we are sick we expect two things from the doctor: to know the disease and the treatment.

In business matters the disease is recognized by audit, while the treatment is given by the consultancy.

The audit is a good because it gives guarantees that what this is, in addition to evaluating the management of the management. It provides security to shareholders and therefore should be necessary for all companies.

With the new regulation of financial control, city ​​councils and joint ventures must be audited, with the responsibility falling on mayors. We have highly qualified professionals, with experience in this type of audits that has its uniqueness in the registration and execution of the Budget.

About professional associations, It must be said that they move a lot of money with a tremendous volume of operations. Our more than proven experience tells us that they fail in internal control and therefore scams may be open. It is necessary to improve the management of these entities and the audit plays an important security role.

At the moment the consultancy that touches is Restructuring: the so-called “Viability”. Is your company viable? Would it be better to fire and close your company? That I have to do?

We distinguish ourselves by a viability consulting service, restructuring, ad hoc, without rolls, cut and to the point, based on a solid methodology that I also teach at the University of Alicante MBA.

The feasibility plan is something very serious. The navigator’s charts and the needle compass so as not to get lost in the fog. The “here you have the plan” does not work, just as neither the photos nor the layout do. The results serve and are achieved by monitoring and creating steering committees and formalizing acts of action.

“We distinguish ourselves by a feasibility, restructuring, ad hoc consulting service, without rolls, cut and to the point, based on a solid methodology that I also teach at the University of Alicante MBA”

On the other hand, If the company is not viable, it is necessary to save the responsibility of the employer and this requires that the accounting for the last two years is immaculate, and thus tend to a fortuitous bankrupt qualification. Here, we also play with the attorneys by conducting a rigorous and in-depth audit of the accounting prior to submitting the contest.

Regarding specific services, we almost always assist lawyers. We highlight our professionalism in Multicurrency opinions. They are complex reports: they require listings referring to the Libor Yen, Libor Swiss Franc, exchange rates and at the end update to the present value, and to this it adds that you do not have the bank. At first, it is difficult to get used to calculation results because of their amounts. “You buy a house with a multi-currency mortgage of 250 thousand euros, and after 10 years, paying rigorous crushing fees, you owe the bank 400 thousand (150 thousand euros more than what you asked for).

Some of our clients did not know that they had a multi-currency mortgage, and through our opinions and even having canceled them, they have recovered imaginable amounts. Mortgages of 200 thousand euros are converted, generally into compensation figures of more than 40 thousand euros and even, as perplexed as it may be, 190 thousand euros in court.

What is your opinion of cryptocurrencies, specifically bitcoins?

The states did not want to accept bitcoin because it affects a basic instrument of government “monetary policy.”

It is a virtual form of payment, fluid, very volatile and already acceptable in many markets and that creates uncertainty because it is not known where the guarantee lies. For me it is pure speculative, bubble and explosive at risk and that has given rise to super millionaires, also generating large scams.

With 2 bitcoins (more than 100,000 euros) I buy a Mercedes S and with 6 bitcoins an apartment on the beach.

It has extreme volatility: December 2,020 a bitcoin 19,000. Now, February 2,021, 58,000 euros. If he had bought 11 bitcoins he would have earned 528 thousand euros (profitability of more than 200%).

But more still. In April 2011 a bitcoin was worth one euro. If you had bought 1,000 euros in bitcoins, you would have 58 million euros.

Obviously, the Treasury cannot escape these capital gains, and it begins to legislate, but the ship has already lost a lot of oil.

Our opinions on scam in bitcoins are always instrumented with the assistance of a private detective who specializes in cybersecurity. They are large amounts and the calculations are not simple but impressive.

There will be a substantial path for law firms that become professional in this matter.

How do you see the post-covid recovery of the economy?

Just in our province I see it quite difficult, due to the dependence on the hotel and restaurant industry. The ERTES can be a serious flow of unemployment in our area if restructuring measures are not planned properly and on time. Here we play an important role.

More information

Kreston Iberaudit Alicante

Tel: 965 21 61 09


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