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April 30, 2008

MSI Global Alliance enters Mongolia

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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