PwC takes over Andersen Middle East
PricewaterhouseCoopers has snapped up Andersen's Middle East offices, putting a further dent in KPMG's goal of taking over most of the embattled firm's practices outside the US.
Partners in Andersen’s Middle East office on Friday agreed to tie up their practice with PwC, the world’s largest accountancy firm.
Fouad Alaeddin, managing partner of Andersen Middle East, said: ‘We are already one of the largest and best-regarded providers of accounting, auditing, tax, consulting and advisory services in the Middle East, and in combination with PricewaterhouseCoopers we will be able to develop a truly leading position.’
KPMG’s aim of sealing a global deal with all of Andersen’s offices outside the US has hit a series of obstacles after Andersen offices in Spain, Singapore, and Australia, merged with KPMG’s rivals.
Micheal Stevenson, PwC’s territory senior partner in the Middle East, said: ‘We have high regard for the practice and professionalism of our new colleagues and are delighted that they will be joining with us to realise the enormous potential of a combined practice with PricewaterhouseCoopers.’