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October 14, 2008

News Briefs

Deloitte Romania, which reported fee revenues of €30.8 million ($41.5 million) for the year ended May 2008, has opened two more regional offices in Timisoara and Iasi… RSM International Turkish member firm Kapital Karden has expanded its representation by establishing a cross-border office in Baku, Azerbaijan… PricewaterhouseCoopers (PwC) Ireland has reported its all-island fee income grew 10 percent to €355 million ($500 million) in the year ended 30 June 2008…

STRATEGY Deloitte opens offices in Romania

Deloitte Romania, which reported fee revenues of €30.8 million ($41.5 million) for the year ended May 2008, has opened two more regional offices in Timisoara and Iasi. Audit senior manager Adrian Ion, who joined Deloitte in 2004, will lead the office in Timisoara and previous PricewaterhouseCoopers employee Jacek Borys will lead the Iasi office. Both offices will provide financial audit services to private companies, public institutions and eventually expand into fiscal and legal services, consultancy and financial advisory.

Chairman of Deloitte Romania George Mucibabici said: “The decision to include the two cities on Deloitte’s expansion map is based on their economic development over the last years, doubled by the growth in foreign investments and the important contribution of big companies in the local and national business. Moreover, both cities are renowned university centres that generate suitable candidates for the company’s profile.”

STRATEGY RSM Turkey expands into Azerbaijan

RSM International Turkish member firm Kapital Karden has expanded its representation by establishing a cross-border office in Baku, Azerbaijan. Kapital Karden specialises in audit, tax and accounting. It currently has offices in the Turkish cities of Ankara, Bursa and Istanbul. The firm recorded annual turnover of about $7 million in 2007. The new Baku office will initially focus on SME audit services and will be headed by Tural Maharramov.

FINANCIAL RESULTS PwC Ireland reports solid growth

PricewaterhouseCoopers (PwC) Ireland has reported its all-island fee income grew 10 percent to €355 million ($500 million) in the year ended 30 June 2008. PwC senior partner Ronan Murphy said the firm managed growth across the board despite the toughest economic conditions in a decade. “We have seen growth in our financial services, inward investment and international tax planning practices, which reflects Ireland’s continued attractiveness as a location of choice for business in the international arena,” Murphy said. “However, the areas of strongest growth included our performance improvement, business restructuring and tax advisory practices – with this growth largely based on the work we are doing with clients to help them deal effectively with the downturn.”

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