Italian CONSOB firm a key addition for Kreston International

The firms are
the audit firm Bompani Audit; Moores Rowland Associati, which
provides taxation, accounting, company secretarial and payroll
services; and Moores Rowland Consulenti di Direzione, which
provides management consulting, corporate finance and internal
control.

Bompani Audit
is one of only 22 Italian firms licensed with the Italian
regulator, Commissione Nazionale per le Società e la Borsa
(CONSOB), to carry out audits of publicly listed
companies.

The three firms
combined have offices in Milan, Turin, Florence, Viareggio and Rome
with 15 partners and 70 professional and support staff. Kreston
International claims 
the firms’ admission will lift Kreston to become the ninth-largest
accounting group in Italy.

The International Accounting
Bulletin estimates this would put
Kreston’s Italian firms’ combined annual revenues at more than €10
million ($15 million).

Bompani Audit is registered with the US Public
Company Accounting Oversight Board (PCAOB) and is also a member of
Assirevi, the Italian Association of Auditing Firms.

“We have been searching for an audit firm in
Italy for some considerable time and are delighted that the firms
have now chosen to move to Kreston International,” Kreston
International executive director Jon Lisby said.

Since the beginning of 2009, Kreston has
recruited top 10 firms in Romania and Bulgaria in addition to firms
in Canada, Kazakhstan, Egypt and Australia.

The association is also in the process of
recruiting in Azerbaijan, Chile, West Africa, the Caribbean, China
and parts of 
Mexico.

The number of Kreston member firms dropped
from 244 in 2008 to about 220 this year due to a change in Kreston
strategy to become a network. Lisby said global coverage has
remained intact with only two fewer countries featuring Kreston
firms.