Multi-disciplinary association MSI Global Alliance has spread
into Mongolia, admitting a medium-sized national firm.

Ulaanbaatar Audit has 70 staff, including 15 qualified auditors and
accountants, spread across six offices. The firm provides audit,
accountancy and consultancy services, with audit generating the
most work. Their work is carried out according to Mongolian
accounting and audit laws, as well as International Accounting
Standards and IFRS.

MSI Global Alliance chief executive James Mendelssohn told
IAB the firm’s approach to the association caught him by
surprise. “If you look around the world, there are certain places
we are not and we would like to be. Then there are other places
where we may not be actively looking, but if somebody good
approaches us we will look at it. Obviously, as an association, we
have limited resources and we can’t cover the whole world
immediately,” he said.

“If there is a place where there is trade, and there is a lot of
work going on between China and Mongolia at the moment, and
somebody approaches us then we will certainly look at them.”

Ulaanbaatar Audit specialises in serving the energy and utilities,
financial services, construction and manufacturing industries.
Mendelssohn said other MSI firms from around the world have already
expressed an interest in working with the new member.

“The Chinese accountants are very conscious [of referral work in
Mongolia]. I was in Beijing in October this year and talking to our
Beijing firm and they have a number of clients in Mongolia. They
are now exploring new opportunities,” he explained.

Mendelssohn estimates Ulaanbaatar Audit is reasonably well placed
in a marketplace which doesn’t have a permanent Big Four presence.
“They are considerably larger than the other two firms that applied
to us within the last 12 months. In a country of that [size] with a
profession as under-developed as it is, that is a pretty good sized
firm.”

Arvind Hickman

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