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