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PRESS RELEASE

30 January 2008

UHY AMONG FIRST FULL MEMBERS OF FORUM OF FIRMS AFTER MEETING INTERNATIONAL QUALITY, ETHICS REQUIREMENTS


UHY International,
the international network of accounting firms that includes
UHY AUDIT CD, has been named one of the first full members of the Forum of Firms. UHY has received this accreditation after implementing a globally coordinated quality assurance programme, committing to the use of International Standards on Auditing (ISAs), and meeting other specific ethics requirements, the Forum announced on 22 January 2008.

UHY International is proud to be among the first group of Forum members,” said John Wolfgang, chairman of UHY International. “We have embraced the high quality assurance and ethics standards required of Forum members in order to serve the public interest and to help raise the standards of the international practice of auditing.

“More specifically, so many mid-tier companies now have interests in at least one country outside their home base – many have wider international operations.
UHY International’s membership of the Forum of Firms means these mid-market clients have access to the same quality of professional service from firms like ours. We not only have the global spread but now have the attested compliance infrastructure to deliver a transnational service that any client can count on,” he added.

The Forum of Firms is an association of international networks of accounting firms. These firms perform audits of financial statements that are or may be used across national borders. The Forum’s goal is to promote consistent and high quality standards of financial reporting and auditing practices worldwide. It conducts its business through its executive arm, the Transnational Auditors Committee (TAC), which is also a committee of the International Federation of Accountants (IFAC). The members of the TAC are nominated by Forum members; UHY International has been represented on TAC since 2004 by Marilyn Pendergast.

Camelia Dobre Managing Partner of UHY AUDIT CD, said: "As the UHY firm in Romania complying with the Forum’s quality standards has required diligent work on our part, but it has been a worthwhile endeavor. The international quality standards we uphold as a firm and as a network are now fully recognized and clear for all clients to see.”

In order to achieve full membership status, UHY International had to commit to meet the Forum’s membership obligations which require members to:

  • Maintain appropriate quality control standards in accordance with International Standards on Quality Control issued by the International Auditing and Assurance Standards Board (IAASB) in addition to relevant national quality control standards and conduct, to the extent not prohibited by national regulation, regular globally coordinated internal quality assurance reviews;
  • Have policies and methodologies for the conduct of transnational audits that are based, to the extent practicable, on ISAs issued by the IAASB; and
  • Have policies and methodologies which conform to the IFAC Code of Ethics for Professional Accountants and national codes of ethics.

Like all the other full members announced today, UHY International originally joined the Forum as a provisional member. As of January 2008, of the 21 Forum members, 17 are full members and four are provisional members. The Forum’s remaining provisional members are working toward becoming full members in 2008.

As a full member of the Forum, UHY International is entitled to indicate Forum membership on our website, on letterhead, and in our publications.

UHY International is an association of independent audit, accounting and consulting firms with offices in nearly 200 major business centres in 66 countries. Over 6300 staff generated an aggregate income of US$614 million in 2007, ranking UHY International among the top 25 international audit, accounting and consultancy networks (by revenue). Each member of UHY International is a legally separate and independent firm.

Sixteen other international networks of accounting firms also achieved full member status, the first group of firms to do so since the Forum was formally established in 2002. See below for a list of the Forum’s members.

___

Notes to Editors:
1. For further information on UHY International please go to www.uhy.com
2. Forum of Firm Members (as at 21st January 2008)

Full Members

  • Baker Tilly International
  • BDO International
  • Constantin Associates
  • Deloitte Touche Tohmatsu
  • Ernst & Young Global Limited
  • Grant Thornton International
  • HLB International
  • Horwath International Association
  • INPACT Audit
  • KPMG International
  • Mazars
  • PKF International
  • PricewaterhouseCoopers International
  • RSM International Limited
  • Russell Bedford International
  • Talal Abu-Ghazaleh International
  • UHY International

Provisional Members

  • IEC
  • JHI
  • Moore Stephens International
  • Polaris International

Affiliates

  • None

About UHY International
Established in 1986 and based in London, UK, UHY International is an association of independent audit, accounting and consulting firms with offices in nearly 200 major business centres in 66 countries. Over 6300 staff generated an aggregate income of US$614 million in 2007, ranking UHY International among the top 25 international audit, accounting and consultancy networks (by revenue). Each member of UHY International is a legally separate and independent firm.

For more information on UHY International, please contact James Vrac, executive director, UHY International, Quadrant House, 17 Thomas More Street, Thomas More Square, London E1W 1YW, UK. Tel: +44 (0)20 7216 4612 2630, or email: j.vrac@uhy.com.

DESPRE NOI

Avem experienta necesara in a anticipa problemele in domeniul financiar-contabil si fiscal, dar si in a semnala oportunitatile oferite. Mai multe despre noi

CU CE SUNTEM DIFERITI

In calitate de membri exclusivi ai UHY in Romania, va oferim solutii complete la problemele Dumneavoastra, la cele mai inalte standarde de calitate. Afla mai multe