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April 30, 2008

News Briefs

Kreston expands in Latin America…

Croatian firm joins BDO…

CPA Associates reveals leadership…

Misuzu staff move to E&Y Japan…

STRATEGY Kreston expands in Latin America Kreston Latin America has announced the addition of 12 new member firms in the region, extending its representation to Panama, El Salvador, Honduras and Nicaragua. Kreston executive director Jon Lisby said: “This is an excellent start to the new year and we are confident that the revised strategy in the Latin America Region and the determination to expand will bring additional value to our members there.”

MERGERS AND ACQUISITIONS Croatian firm joins BDO BDO International has announced the recruitment of a new member firm in Croatia. BDO Revizija Zagreb joined the network in January. BDO Revizija Zagreb is based in the capital and has offices in Gospić and Selce. The firm has 25 staff, including ten certified auditors, and is licensed to perform auditing, due diligence, capital value evaluations, tax, financial consulting and bookkeeping services. In 2006, BDO Revizija Zagreb recorded fee income of €1.7 million ($2.5 million), which represented a 37 percent growth rate on 2005. It plans to triple its fee income to more than €5 million by 2011.

PEOPLE CPA Associates reveals leadership CPA Associates International has announced the election of its leadership team for 2008. Raymond Strothman is the chairman, Ted Carnevale has been elected secretary and Bernard Raden is treasurer. The new members of the North America board of directors are Jeffrey Arnol, Stephen Hancock, Phillip Kronlage and Jeffrey McRae. Robert Zesati of Mexico is the chairman of the new international board of directors. David Cooper ofthe US is secretary and Paul Chan of Hong Kong is treasurer. The board members are Marco Petrucci of Italy, Dan Schwartz of Romania and Frank Betts and Leslie Prangley of the US.

PEOPLE Misuzu staff move to E&Y Japan Japanese firm Ernst & Young (E&Y) ShinNihon has completed the inward transfer of 1,065 employees from former PricewaterhouseCoopers Global (PwC) member firm Misuzu Audit Corporation. Misuzu announced a wind-down of operations and split from PwC early last year following two accounting scandals. E&Y ShinNihon said the transferees have been undergoing intensive training in auditing techniques and tools since early July to enable them to quickly adapt.

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