BDO Unicon has strengthened its positions at the market of audit services for major Russian businesses
BDO Unicon rates 2nd in the number of audit clients among top Russian businesses. This information appeared in the rating of the most popular auditors published by "Money Weekly" (Issue 33 of August 25, 2008).
According to the rating results, BDO Unicon provides its services to 27 of the Top 300 Russian businesses with the highest capitalization at the Russian stock market (as at June 30, 2008). BDO Unicon rates second among the national audit market leaders according to the number of clients in this category of businesses — ahead of Ernst & Young and Deloitte & Touche CIS. The total capitalization of the firm's client portfolio grew more than twofold during the period under review.
BDO Unicon ranked third in a similar rating for 2007 (with 20 clients among the Top 300 Russian businesses). Thus, during one year BDO Unicon succeeded to improve significantly its share in this segment of the audit market, recording the growth rate which was one of the highest among Russian audit firms.
Comment by Anton Anischev, Director, Business Development, BDO Unicon Group:
"The rating results demonstrate that BDO Unicon Group has succeeded to strengthen considerably its presence in the segment of audit services to major national companies. We are offering currently a broad range of business services and treating collaboration with public companies as one of our priority directions. More specifically we have focused on the development of IFRS services. We are committed to strengthen our positions as a leading consultant and auditor at the IFRS services market".
Comment by Andrey Balyakin, Senior Partner, Head of Energy Group, Audit Practice of BDO Unicon:
"The rating results show that BDO Unicon Management made a correct strategic decision some time ago when it opted for the development of fundamental industry knowledge and proprietary service delivery techniques in the firm. That is why today we can boast the vast resources, expertise and knowledge which enable us to optimize service quality and efficiency of our performance in the work with major businesses and in particular holding companies. We have the methodology and techniques to manage audit engagements in traditional Russian industries (energy, oil and gas, metallurgy, mining sector, engineering) as well as new and dynamically growing segments (telecommunications, construction, development, retail, etc.). Different from some other firms, which have difficulty to satisfy the demand and the needs of the growing market, we are prepared to manage the future growth of our client portfolio in terms of available technologies and skilled staff".
According to Expert RA Rating Agency, since 2005 BDO Unicon has steadily ranked second in the rating of Russia?s major audit and consulting groups and first among the Russian domestic audit and consulting groups; according to the 2007 performance, the firm is a leader in terms of revenues from the IFRS services.
Currently the audit clients of BDO Unicon include: ÎÎÎ Euroset, ÎÀÎ The 7th Continent, DON-Stroy, PIK Group of Companies, Russian Alcohol Group of Companies, MOSSELPROM Agribusiness Holding, ÎÀÎ Archangelsk PPC, ÎÀÎ Voskresensk Mineral Fertilizers, TGC-1, TGC-3, TGC-8, TGC-9, ÎÀÎ Sukhoy, ÇÀÎ Transmash-Holding, ÎÀÎ Bank of Moscow, Otkritie Investment Group, RUSAL Group of Companies, SUEC Group of Companies, ÎÀÎ Russian Railways (including all subsidiaries), ÎÀÎ Alfa-Bank, Ilym-Pulp Group of Companies, etc.
Additional information:
The rating of Russia's Top-300 major businesses was published in "Money Weekly" Issue 33 of August 25, 2008 (Kommersant Publishing House). The rating is based on the business capitalization figures, i.e. the total value of the company's ordinary shares which is calculated as the total number of its shares multiplied by share market value (as at June 30, 2008).
http://www.kommersant.ru/doc.aspx?DocsID=1016004
The most popular auditor rating was published in "Money Weekly" Issue 33 of August 25, 2008 (Kommersant Publishing House). The rating is based on the number of each firm's audit clients among Russia's Top-300 major businesses (please refer to the above).
http://www.kommersant.ru/doc.aspx?DocsID=1016020
Company Profile:
BDO Unicon (1989) is audit and consulting group. It offers a comprehensive range of audit, development and efficiency improvement services to businesses. It is a member firm of BDO International — the fifth largest (in terms of total revenues) global network of independent audit and consulting companies with more than 30,000 employees in 100-odd countries.
BDO Unicon Group employs above 2000 highly skilled professionals in 18 offices throughout Russia. The firm's portfolio includes several thousands of clients, up to one third of the total number of Russia's major businesses among them. The Group's total 2007 turnover exceeded EUR 85 million. According its 2007 performance, BDO Unicon is a leading Russian domestic audit and consulting group (according to Expert RA Rating Agency).