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.’
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