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KPMG established a new office in Belarus

KPMG established a new office in Belarus

“KPMG ”, one of the "Big Four" worldwide network of audit firms, has recently established a new office in Belarus.

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KPMG established a new office in Belarus

Earlier services under the KPMG brand in Belarus have being provided by the local audit company who decided to join another work at very short notice. The new company, founded by KPMG, has the temporary name "K-assurance”, and soon will be renamed to "KPMG". This company is an independent member firm of KPMG network, affiliated with KPMG International, the owner of 100% of share capital of which is KPMG. 

The new office of KPMG continues to provide services to its corporate and local clients, including industrial, retail, insurance and banking sector. On 7 November this year, the new company was licensed by the Ministry of Finance of the Republic of Belarus for auditing, and insured its professional liability. On 1 December 2010 special qualification committee of the National Bank of the Republic of Belarus made a decision to grant to the Limited Liability Company “K-assurance” a special permit (license) for audit activities in banks and non-banking financial institutions of the Republic of Belarus. 

The company's staff includes specialists with many years of working experience in the banking system of the Republic of Belarus, insurance, on entities in different industries and forms of ownership. At the current moment 6 employees of the Company have the certificate of compliance with the qualification requirements for the implementation of auditing in the banking system of the Republic of Belarus, 10 specialists are certified by the Ministry of Finance to conduct audits of non-banking entities and organizations. A number of specialists are certified and members of the International Association of Professional Accountants (Association of Chartered Certified Accountants), confirming the qualifications in the field of International Financial Reporting Standards, International Auditing Standards. The biggest asset of the audit company KPMG is a highly qualified staff which ensure the highest quality of service, which has the highest recognition at the local and international markets. The company was able to form an excellent team of highly qualified professionals. Recently the global KPMG network was recognized as the second company in the ranking of the world's best employers. KPMG in Belarus also intends to be recognized as a company that cares for and encourages the professional development of its employees. 

The leadership of the new office of KPMG in Minsk is performed by Irina Vereschagina who for more than a year has been a partner of KPMG in Belarus authorized to sign audit reports on behalf of KPMG. The leadership of the CEE region (Central and Eastern Europe), which also includes the new office of KPMG in Minsk, is performed by the senior partner of KPMG in the Baltics and Belarus, Stephen Young,  who has more than 30 years of experience in auditing and providing advisory services to banks, insurance companies, retail, consumer, industrial and pharmaceutical companies in the UK, Australia and Central Europe. 

“For the KPMG network the presence on the local market, investment attractiveness of which increases and economic policies are aimed at integration into European and world economic community, is a key. We are confident that our Belarusian clients who are familiar with the quality of services of KPMG, when choosing a provider of audit services will come from the fact that the KPMG brand is a symbol of quality audit either of the financial statements prepared in compliance with the local laws, or with the International Financial Reporting Standards, which is trusted by investors all over the world.  We are also proud of the commitment to quality and client service of our staff and our partners in KPMG” - said Stephen Young, senior partner of KPMG in the Baltics and Belarus. 

Reference 

KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We operate in 146 countries and have 140,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such. 

“Big Four" - four major global companies, world leaders in providing advisory and audit services - KPMG, Ernst & Young, Deloitte, PricewaterhouseCoopers. Annual revenues of each of the Big Four companies is more than $ 20 billion per year. 

ACCA (Associate of the Chartered Association of Certified Accountants) is a nonprofit international professional organization of highly qualified accountants of British origin, founded in 1904, the current name have being used since 1996; a member of the Advisory Committee of the accounting institutions.

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