PricewaterhouseCoopers has opened an office in
Mongolia, the second Big Four firm to have a presence in the
country.

The firm will provide assurance, advisory and
tax services to Mongolian and international companies, mainly
focusing on the mining sector, financial services and
manufacturing.

PwC Mongolia, based in the capital
Ulaanbaatar, has a team of 20 partners and staff, including
Mongolians with experience in other PwC firms.

PwC said that it has previously served
Mongolian companies in the copper and gold mining, and banking
sectors through other firms in the network.

There are more than 40 audit firms in Mongolia
but only seven of the leading accountancy networks and associations
have Mongolian member firms. Ernst & Young, Baker Tilly
International, Crowe Horwath International and Nexia Internartional
are among the networks to have a member firm in the country.

PwC Mongolia managing partner Dan Feder said
the firm’s presence on the ground “will give a strong positive
signal to foreign investors and will bring capabilities required by
our clients in a timely and professional way”.

“We look forward to supporting the future
development of this increasingly important economy by supporting
the education and professional skills development of our Mongolian
staff, as well as the accounting and advisory profession in
Mongolia,” Feder said.

PricewaterhouseCoopers Central Asia senior
managing partner Alper Akdeniz said Mongolia has vast natural
resources and is becoming a significant part of the supply chain
fuelling growth of the Asian economy.