Accreo wants to compete with Big Four

APA - Austria Presse Agentur
opublikowano: 18-01-2006, 22:01

Warsaw (Puls Biznesu) – Three employees of Ernst&Young founded their own company. They joined Taxand network and want to expand in the region.

Warsaw (Puls Biznesu) – Three employees of Ernst&Young founded their own company. They joined Taxand network and want to expand in the region.

The consulting market, changing since Andersen’s failure, faces a new trend: founding companies offering only consulting services without audit ones. In Poland, three people has decided to do that (they will soon be joined by a fourth one) – partners or senior managers of Ernst&Young (E&Y). In September, they founded Accreo company, which joined Taxand, a network present in 22 countries.

“We offer tax consulting. The second pillar of our operations is European consulting, or getting subsidies from EU funds or planning negotiation packets for foreign investors”, Andrzej Puncewicz, one of Accreo partners said.

The partners explain their decision with shrinking market. Rivals do not agree.

“Clients stay in Big Four but they employ more than one firm. Thus the market of tax consulting is not shrinking. On the contrary, after a period of slower growth dynamics, it is developing due to Poland’s EU accession”, Krzysztof Lipka, KPMG tax advisor said.

The Polish partners want to build a network in Central Europe. Today, Accreo has 18 employees. Employment will grow by 25-30 percent within two years.

Poland lacks any rules concerning offering audit and consulting services. It will have to adopt EU rules till 2008. The rules provide for the auditor to ensure that he is independent. In the US, it is the company ordering consulting services that has to state its auditor’s independence.

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Podpis: APA - Austria Presse Agentur