BDO international audit firm enters Armenian market

PanARMENIAN.Net - Ameria Audit CJSC has attracted BDO (Binder Dijker Otte & Co – BDO), the fifth largest audit firm worldwide, to the Armenian market. BDO purchasing the Armenian company will launch a new local member firm, BDO Armenia, according to Ameriabank's Development Director.

“This investment proves our success in gaining relevant expertise and quality throughout previous years,” Tigran Jrbashyan told a press conference on March 20, adding that BDO’s access to Armenian market will create new opportunities and will foster competition in the audit field through use of high international standards.

“We are glad to have found an innovative business partner,” BDO Senior Partner Alexander Verenkov said, citing risk assessment behind choosing America Audit.

Dwelling on the plans and further activity of BDO Armenia, its director Artur Andreasyan forecast no core changes, with the company continuing to provide audit services and consultations in the financial, tax and other sectors. Mr. Andreasyan further hailed BDO’s experience in establishment of management information systems (MIS) that the Armenian market currently lacks.

He also noted that BDO has 1100 representations in 135 countries, with staff of about 45 thous. employees. The combined fee income of all the BDO Member Firms totaled USD 5.6 bln. in 2011.