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April 30, 2008

RSM International continues recent growth spurt

RSM International continues recent growth spurt

RSM International has admitted member firms in the Philippines and Ukraine, and is in advanced discussions with several others across Europe as the network seeks to substantially strengthen its presence early in the new year.

The network’s chief executive, Jean Stephens, told IAB RSM is in advanced stages of discussions with at least five potential members in Central and Eastern Europe in order to spread coverage into some of the rapidly emerging economies of the region.

“We’re continuing to look in the Poland and Czech area, also in the Baltic [region],” Stephens said. “Historically, we had [a presence in those regions] but there was a change in our representation in Germany where they had covered those countries and that happened earlier this year. That will continue, Romania, Poland and all of that will continue to grow and develop. We’re at the point of due diligence in some of those countries, we are pretty far along.”

Stephens described now as an exciting time for the network, with much recruitment activity in the pipeline. This includes, she added, firms in two of Europe’s largest economies. “I would say [Italy] is one of the countries that we are getting close and Germany [is] in advanced stages… we’re in a very big growth mode right now,” she explained.

This month, RSM admitted mid-sized firms APiK Group in Ukraine and Alas, Oplas & Co in the Philippines. Alas, Oplas & Co has five partners and 35 members. It provides services in financial audit to operations audit, feasibility studies and tax, and is registered with the US Public Company Accounting Oversight Board.

Alas, Oplas & Co becomes the network’s sole full member in the Philippines. Stephens added: “We’re fairly strong in Asia-Pacific so it was a matter of finding the right firm that could work with all our firms there and we were happy to find a good firm. They had known our Singapore firm in the past so we had a relationship with them.”

The ApiK Group is one of the leading financial services firms in Ukraine. It has four partners and 39 members of staff. The firm has provided audit services to more than 400 companies and 70 banks in the country.

Nicholas Moody and Arvind Hickman

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