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April 30, 2008

Warsaw firm strengthens Moore Stephens Poland5.

By Nicholas Moody

Moore Stephens International has recruited a new Polish member firm in Warsaw. The new firm, Central Audit, increases the network’s Polish representation to five member firms.

Central Audit has five partners and 34 staff and was established three years ago from former staff of Salustro Reydel’s Polish subsidiary before that French firm was absorbed into KPMG. The young firm has achieved rapid growth since its creation, reporting PLN2.8 million ($1.3 million) in fee income last year with projected income in the 2008 financial year of PLN4.2 million.

Moore Stephens is the fourth highest revenue earner among associations in Poland with combined gross revenues of more than PLN18.6 million, according to IAB’s inaugural Poland survey (see Rising from the ashes). The addition of Central Audit has contributed to a growth rate of 38 percent last year.

Moore Stephens European executive director Chris Rawden said the appointment of Central Audit represented an important milestone in the association’s Polish coverage. “We have strong member firms already in Gdańsk, Katowice, Poznań and Rzeszów. What we were seeking was an internationally-experienced firm in Warsaw to enable us to raise the Moore Stephens profile in this important capital city. We are delighted to have secured Central Audit as our new Warsaw member firm, in view of their solid international experience and their track record of quality growth,” he said.

Central Audit’s international liaison partner Iga Kwaśny said joining Moore Stephens not only broadened the firm’s geographical footprint but also increased its ability to serve international clients. She said the firm will invest in its management consulting and transactional consulting practices.

Nicholas Moody

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