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April 30, 2008

News Briefs

Kreston adds Bulgarian member…

KPMG reveals Swiss figures…

Caribbean institute names CEO…

GT UK appoints director…

MERGERS AND ACQUISITIONS Kreston adds Bulgarian member Kreston International has added a new member firm in Bulgaria. BIEX Audit is a four partner firm based in the Bulgarian capital, Sofia. It has a second office in Blagoevgrad in the country’s south west. The firm has 14 professional staff and provides audit, accountancy and tax consultancy services to a number of industries, including aviation and transport, construction, petrol products, tourism, food and tobacco, media and advertising and industrial manufacturing.

FINANCIAL RESULTS KPMG reveals Swiss figures KPMG Switzerland has reported revenues of CHF422 million ($385.1 million) in the year ended 30 September 2007. This represents a net increase of 10 percent over the previous financial year. IAB understands KPMG is the third largest firm in the country behind PricewaterhouseCoopers, which reported CHF674 million in the 2006/2007 financial year, and Ernst & Young (CHF527 million). Deloitte is the smallest of the Big Four in Switzerland although it has recently combined with the network’s UK operations, which is larger than any of the Swiss firms. KPMG created 130 new positions in its Swiss firm last year.

PEOPLE Caribbean institute names CEO

Misha Lobban has been appointed as chief executive of the Institute of Chartered Accountants of the Caribbean (ICAC). Lobban is a qualified public relations practitioner and has extensive knowledge of the accountancy profession, having worked for six years at ICAC member body the Institute of Chartered Accountants of Jamaica. Lobban will be responsible for enhancing the regional profile of the institute as well as co-ordinating, implementing and monitoring the work of the ICAC secretariat.

PEOPLE GT UK appoints director

Grant Thornton UK has appointed Clive Sparrow as a director in the firm’s government and infrastructure advisory team. Sparrow joins the mid-tier firm from HM Treasury, where he was director of the efficiency team. Sparrow also brings specialist knowledge of the utility sector, having advised utility regulators in the UK, Europe, Australia and Latin America on issues such as price reviews, organisational strategy, risk identification and change implementation.

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