"MEF-Audit" has joined the international audit network PKF International

12.07.2017

Russian audit company "MEF-Audit" has joined the international audit network PKF International. As a  result of negotiations and quality control conducted at the JSC MEF-Audit, Operating License Agreement was signed. Through it, the company has obtained the right to use the international brand, unified intra-company standards, as well as significant geographical coverage - 400 offices in 150 countries around the world - and international experience accumulated by PKF International over half a century of its existence.

Now, MEF-Audit can actively improve the application of the unified International Standards on Auditing (ISA) implemented on January 1, 2017 [1], including through internal PKF methods. This is greatly facilitated by the close cooperation of PKF International and the independent association of international audit networks Forum of Firms, headed by PKF representative Theo Vermaak.

MEF-Audit believes that this fact will have a positive effect on the work of the whole company, since it will now comply with unified high quality standards on auditing and financial reporting, the implementation whereof is the main objective of the Forum of Firms.

PKF International CEO, John Sim, expressed confidence that joining the PKF family by one of the leaders of Russian audit and consulting will contribute to the development of the whole network, as well as to the promotion of the PKF brand in Russia.

The solemn event ended with a concert and a festive dinner at the O2 Lounge restaurant of the Ritz Carlton Hotel in Moscow.

The auditing company MEF-Audit has been operating on the Russian market since 1999. It provides services in auditing, tax consulting, assessment and investment design, construction audit, due diligence, IT and legal advice, as well as public and regional management consulting.

According to 2016 RAEX, MEF-Audit ranks 10th in the rating of the largest audit organizations (subjects of auditing activity) in Russia. The company is part of the Russian business and professional communities: the Chamber of Tax Consultants, the Chamber of Commerce and Industry of the Russian Federation, the Association of Russian Assessment Masters is a member of the Russian Asian Union of Industrialists and Entrepreneurs (RASPP).

MEF-Audit is included in the register of specialized companies that meet the requirements of VEB (Bank for Development and Foreign Economic Affairs, Vnesheconombank), passed the qualification selection of organizations engaged in appraisal activities to provide valuation services for the needs of JSC Russian Railways, is accredited in OJSC TransCreditBank, OJSC Moscow Credit Bank. Audit and consulting group MEF-Audit is a partner of Vnesheconombank, Gazprombank Group, JSC Russian Railways, OJSC Rostelecom, JSC Rosselkhozbank, VTB Bank (PJSC), Monocities Development Fund, as well as a number of other major Russian banks and companies.

www.mef-audit.ru

PKF International is an international auditing network of legally independent companies linked by unified standards of work, as well as by adherence to quality in auditing and financial reporting services. The company was founded in 1969 and was formerly known as Pannell Kerr Forster. Now, PKF International is present in 440 cities and 150 countries of the world, provides services in audit, taxation and business consulting.

According to the February issue of the International Accounting Bulletin, PKF is among TOP-30 global audit networks and ranks 15th in the related World Survey ranking. Its revenue for the past year was $1,042 million, showing an increase of 3%. The company employs 14,509 employees, including 1,393 partners. In the past year, revenues from audit services amounted to $562 million with an increase of 3%. In 2016, 11 companies from Italy, Great Britain, Australia, South Africa, Vietnam and the Kingdom of Lesotho joined PKF International.

PKF International provides services for the public and industrial sectors, insurance companies, non-profit organizations, oil and gas industry, real estate, retail, mining industry, travel business, mass media, etc.

www.pkf.com

The Forum of Firms is an independent association of international networks conducting transnational audit. Its goal is to introduce unified high quality standards to the financial and auditing practices around the world, as well as to bring together under their auspices companies conducting transnational audit and to ensure their closer connection with the activities of the International Federation of Accountants (IFAC) in auditing and other activities related to the confirmation of the reliability of information. According to the FOF Constitution, Forum members are obliged to consistently adhere to high quality standards of auditing practices around the World.

http://www.ifac.org/about-ifac/forum-firms-and-transnational-auditors-committee