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September 15, 2008

News briefs

Ernst & Young (E&Y) has opened an advisory office in Algeria… PricewaterhouseCoopers has expanded its global actuarial and insurance management solutions (AIMS) business into its Middle East, Asia and South America practices… Ernst & Young UK partner Jeremy Jennings is to head up the network’s regulatory and public policy activities across Europe, the Middle East, India and Africa (EMEIA)…

STRATEGY E&Y builds Algerian practice

Ernst & Young (E&Y) has opened an advisory office in Algeria. This month, 25 employees have joined E&Y Algeria with the aim of growing the business by 25 to 30 percent in 2009. E&Y has operated in Algeria for more than 25 years and aims to grow to 100 advisory staff within three years. E&Y Algeria will offer advisory, audit, legal and finance services. Philippe Ausseur, E&Y’s advisory associate for France, Luxembourg and North Africa, said the firm was reinforcing its presence in the North African country to match recent reform of the economy and inward investment. The move follows E&Y’s expansion into Libya last year. Last December, E&Y opened its first Libyan office with 25 local and expatriate professionals. The aim is to double the size of this office by the end of this year. The Tripoli office in Libya provides services in tax, assurance, risk services and business advisory solutions.

STRATEGY PwC expands actuarial and insurance

PricewaterhouseCoopers has expanded its global actuarial and insurance management solutions (AIMS) business into its Middle East, Asia and South America practices. The network has more than 1,000 actuaries in 36 countries. Global AIMS leader Bryan Joseph said: “Our actuarial business is about much more than providing traditional services to the insurance and pension markets. We are an integral part of the firm’s offering to clients including: transfer pricing, risk modelling, enterprise risk management, banking, human resource services, healthcare services and corporate finance.”

PEOPLE Jennings leads public policy at E&Y

Ernst & Young UK partner Jeremy Jennings is to head up the network’s regulatory and public policy activities across Europe, the Middle East, India and Africa (EMEIA). Jennings chairs the European Contact Group, a policy grouping of the top six accounting networks internationally. His new role will require building relationships with EU institutions in Brussels and focusing on broader international regulatory community throughout the EMEIA region. “The accounting profession faces some unique challenges, not least the implementation of the EU Statutory Audit Directive, ongoing discussions on liability limitation and the introduction of independent auditor oversight,” Jennings explained.

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