KPMG posts €32.6 mln turnover and continues expanding countrywide

 Competition locally of the Big Four firms is heating up, with three of the four reporting similar turnover. Only PwC Romania had higher turnover than KPMG for the 2007-2008 financial year, of some €35 million, according to previous company estimates, up 40 percent year-on-year. Furthermore, Deloitte Romania’s turnover was 30.8 million, 25 percent higher than the same period in the 2006-2007 financial year. The only Romanian Big Four company that has not reported turnover in the past two years is Ernst&Young. According to data available on the site of the Ministry of Economy and Finance, companies through which Ernst&Young carries out operations in Romania posted turnover worth €29.5 million in 2007.

 The battle for supremacy between the Big Four is fierce also in terms of territorial expansion, with KPMG announcing the opening of a new office on 30 October in Constanta, two weeks after it inaugurated its Iasi office. “The Constanta area has very much to offer. The city has a prosperous port which now has a highly important role to play since Romania became a member of the European Common Market. Constanta is an entry and exit point not only for Romania, but for the entire European Union,” said Serban Toader, Senior Partner of KPMG Romania. Toader believes that potential new investors along the Black Sea are tourist operators and wine makers. “Constanta will be our sixth office. We expanded in the region due to increasing demand for our services throughout the country,” added Toader. The seaside office will be headed by Richard Perrin, presently Partner of the Bucharest KPMG Audit Department.