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BDO announces admission of new member firm in Kosovo
BDO, the world’s fifth largest accountancy network, is pleased to announce the admission of a new member firm in Kosovo.
BDO Kosovo was inaugurated in August 2010 and received its audit licence on 5 October 2010. An initiative of BDO Croatia, the new firm was established with the cooperation of local firm AAT Consulting.
The new firm expects to grow rapidly in the next few years. The firm’s service offering will include audit (including of public sector organisations) and risk assessment and internal audit services, as well as consulting and services to foreign investors.
Guy Sadeh, of BDO in Croatia, is taking the lead in developing the firm in its initial stages. He comments: “Financial recovery in Kosovo has been slow but steady in recent years, with GDP rising and unemployment falling and a tangible increase in foreign investment as well. The country’s financial sector is impressive, with its two-tier banking system comprising the Central Banking Authority, together with a number of private banks, insurance companies and pension schemes. Natural resources are an important commodity in the country, as is its agricultural land (some 53% is cultivable), while the construction industry goes from strength to strength. We expect our core client base to be within these sectors, therefore, together with local government entities / municipalities”.
Martin van Roekel, BDO’s Global Head of Network Development, sees a great deal of opportunity for BDO both in Kosovo and in the region as a whole: “Although the situation remains challenging, the government is undertaking various reforms and we can expect an increasing number of national businesses to be ready to compete in both regional and global markets in the not too distant future. The establishment of a BDO Member Firm in Kosovo forms part of BDO’s growth plans in this specific region and we expect that announcements of further new firms joining will be forthcoming shortly. We are very grateful in this instance to our firm in Croatia for spearheading this initiative.
Kosovo is growing fast, on all levels, and I am optimistic that our new firm will be able to provide the services its economy requires within a relatively short period of time”.
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