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News from Members KPMG in Romania and Moldova records continued growth

KPMG in Romania and Moldova records continued growth

by KPMG Romania November 11, 2013

Website www.kpmg.ro

KPMG in Romania and Moldova delivered sound revenues of Euro 36.5 million for the financial year ended 30 September 2013, a 4% increase as compared to the previous financial year. These results are based on financial statements prepared in accordance with International Financial Reporting Standards (IFRS) and cover the operations of KPMG in both Romania and the Republic of Moldova.

This growth in turnover consolidates the positive trend of the last few years, which the Firm has enjoyed in spite of the difficult economic climate. The results for Tax and Legal Services account for 25% of total turnover, while Advisory and Audit & Assurance Services represent 29%, and 46% respectively.

Serban Toader, Senior Partner at KPMG in Romania, comments: “This is the decisive moment to encourage the Romanian business community to focus on entrepreneurship, look to the future, innovate, and pursue their growth ambitions. We offer leaders the confidence to progress through a still difficult environment. Our tax consultants have been actively involved in the public consultation process initiated by the Ministry of Finance to improve tax legislation and we have represented the business environment in these discussions. We also have been involved in many high-profile projects such as IPO assistance. KPMG has been involved as auditors and/or accountants in a number of listings and bond offerings in Romania and abroad, such as those of RCS-RDS, Romgaz, Nuclearelectrica, UniCredit Tiriac Bank, Raiffeisen Bank. The added success of our projects has brought us recognition such as “Most Active M&A Consultant” (ZF and Dealwatch). Additionally, we support our clients with restructuring of their existing businesses, advice on capital expenditure and guidance on transformation of systems to facilitate growth.”

Investing in people and recruiting top talent will remain a strategic priority over the next year. Recently, KPMG in Romania hired 90 young professionals, confirming our confidence that the firm will continue to grow. With its strong focus on training and advancement, KPMG has become one of the top tier employers in the business community and development of our people is one of the core elements of our business strategy.

“We are defined by the impact we have on the economic results and reputation of our clients and we focus on that. Our financial results for FY12-13 confirm the success of our strategies and we will continue to build on that,” concluded Toader.

About KPMG
KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We operate in 156 countries and have 152,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
KPMG in Romania and Moldova operates from six offices located in Bucharest, Cluj-Napoca, Constanta, Iasi, Timisoara and Chişinău. We currently employ 700 partners and staff; Romanians and Moldovans as well as expatriates.

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