8 February 2010

East Africa: Regional Auditing Firm, DCDM Joins BDO East Africa

Nairobi — A regional auditing firm DCDM East Africa, has joined BDO East Africa in a move that will help consolidate its global market share.

Launched recently in the region, BDO East Africa is part of the BDO International -- a worldwide network of public accountancy firms.

"DCDM East Africa can now tap into the expertise and vision of BDO International," said Emma Howard, the global head of people, BDO International.

Ms Howard said offices of BDO International in each of the East African countries -- Tanzania, Uganda and Kenya -- will operate independently but uphold the parent firm's aspirations.

Services offered by DCDM East Africa include audit and accountancy, tax and corporate finance advice as well as other business advisory services.

DCDM East Africa --Tanzania is the fifth largest accountancy firm in the country, according to the office of the Controller and Auditor General.

Mr Chanyera Lukumbo, a partner at the Tanzania office said the union would elevate the company's position in all its markets.

"We welcome this relationship and pledge our commitment to continue serving the Tanzanian market in the best way possible. We shall be recognised among the world's most respected entities and even more importantly our work will carry a banner of excellence and high performance," said Mr Lukumbo.

In its 13 years of operation in Tanzania, the firm has carried out work of national importance in several fields, including consultancy in the civil service and reforms in ministries and parastatals.

It has also managed the Privatisation Sector Reform Commission, a forensic study on behalf of the Tanzania Revenue Authority and due diligence on the Tanzania Railway Corporation.

The three firms that make up BDO East Africa were established in the 1990s and consolidated into a single firm last year.

Since then, the firm's revenue has risen steadily with a turnover amounting to $3.5 million (Tsh 4.6 billion) for the year ended June 30, 2009.

The clientele base is drawn from a broad range of industries both local and international.

They include Eveready Batteries, Synovate, L'Oreal, Wyeth Laboratories, Oracle Corporation, Chase Bank, Zain Africa, the United Nations Office of Project Services and the Investment Climate Facility for Africa Trust.

The BDO East Africa CEO, Mr. Sandeep Khapre said: "Our vision in East Africa is to be recognised as the most trusted and respected business advisers." According to BDO International, Africa is fast becoming an important continent, particularly to its clients in the natural resources sector.

BDO International was founded in 1963 when a group of firms from the United States, Canada, the Netherlands, Germany and the United Kingdom merged.

The firm's network has grown to include more than 115 countries and nearly 1,100 offices.

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