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October 30, 2008

Spanish firms on lookout for more trans-Atlantic work

Spanish firms are seeking more opportunities with partner firms in Latin America. Assisted by language similarities, Spanish firms provide European expertise in areas such as IFRS, a skill that is lacking in less developed markets.

PricewaterhouseCoopers audit partner Manel Valls described Latin America as a “hotbed” of business for Spanish firms.

“Here, speaking Spanish is a plus, but I would say [the work] has been delegated by PwC’s central cluster, [the region in which] we are located,” he said. “We will put more emphasis on Latin America. We plan to increase business. The IFRS issue is also helping us. Latin America is implementing IFRS while we already have experience and we speak the same language, we have to be a reference point.”

BDO Audiberia president Alfonso Osorio told the International Accounting Bulletin: “Latin America is a massive continent but with very few countries. Basically we work with everyone but I would like to highlight Argentina, Chile and Brazil. They are perhaps the most economically vibrant.”

Meanwhile, HLB International member firm Bove Montero y Asociados focuses on a different approach – serving European clients that operate in Spain. Founding partner Jose Maria Bove said the firm’s workforce is very multilingual.

“We have a German speaking department, all of our colleagues speak English, we have a French department, and a good team of people specialising in Italian clientele,” he said.

“This allows us to move away from our Spanish clientele and also cover services coming from other countries with interest and an eagerness to invest in Spain.”

Jorge Alvarez

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