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KPMG Romania targets listed companies

The audit for local companies listed on the stock market is a strategic priority for the consulting and audit company KPMG's local subsidiary. Only a quarter of those companies use the services of the Big Four subsidiaries, PricewaterhouseCoopers, Ernst&Young, Deloitte and KPMG, for financial reporting.

'If we look at mature markets, such as Germany, France, Britain, and the US also, we see that more than 90-95 percent of the listed companies are audited by the Big Four companies. In Romania, this percentage is much smaller, only 20-25 percent, so there is a high growth potential,' KPMG Romania's senior partner Serban Toader told daily Business Standard. The fee difference between a Big Four company and other audit companies is based on reputation, quality and access to professionals. Within KPMG Romania, audit makes up some 50 percent of the turnover, while fiscal and financial advisory make some 25 percent each. 'Audit was the business segment that made major global consulting companies invest in Romania. The local market will constantly ask for this type of services,' he explained. Sursa: http://www.rompress.ro

Tags: companies romania kpmg listed

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