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September 29, 2008

Russian geographic concentration dilutes

Intense geographic concentration within Russia’s professional services industry is beginning to dilute. A 2008 report from the Russian Ministry of Finance indicated a highly-concentrated profession with a majority of firms being based in Moscow.

Russia Fee Split

However, partners speaking with the International Accounting Bulletin for the Russia survey (see Russian Bear makes giant leaps) said firms are expanding into the regions in response to client demand, and are also looking across national borders.

Rödl & Partner’s André Scholz said the success of the firm’s Belarusian office has led it to seriously considering opening an office in Kazakhstan. The firm is also looking to follow its clients into other regions by creating clusters throughout Russia. It is considering clusters in the Urals, in the far south and on the Volga River but is yet to decide where the first will be. The firm’s long term strategy is to establish a presence in Central Siberia.

RSM Top Audit also plans to develop its regional network. In the past two years the firm has opened 42 offices in different cities. These offices are either affiliated firms of RSM Top Audit Moscow or independent firms that have joined RSM’s regional network and have agreed to a profit sharing agreement with the Moscow-based firm.

RSM Top Audit managing partner Elena Loss said the firm aims to be represented in 86 of Russia’s main cities in a year.

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