Russell Bedford makes first moves into Central Asia

Online, December 8, 2009 (Newswire.com) - Just three months after the appointment of two member firms in Ukraine, London-based accounting group Russell Bedford International has taken further steps to expand into former Soviet Union countries by taking on firms in Kazakhstan and Uzbekistan.

The Kazakh firm, Business Consulting, is an independent audit practice, established in 2007 in Almaty, the largest city and commercial capital.

Business Consulting is licensed as an audit practice by the Ministry of Finance, it is a member of the Chamber of Auditors, and it is one of the few audit organisations approved by the local regulatory agency to audit financial institutions. Whilst its main focus is on financial auditing, the firm's other services include tax consulting and compilation of financial statements to IFRS. Asset appraisal and valuation services are provided via another group company.

The client base covers a wide range of business sectors including oil and gas, construction, transportation and manufacturing.

The firm has four partners: Sholpanay Kudaibergenova, Margarita Bassabikova, Gaukhar Tuimebay and Zynaida Druzhinina.

In addition to its main office in Almaty, Business Consulting has a representative office in Aktau on the Caspian Sea.

The Uzbek firm, Marikon Audit, is an independent audit and tax consulting practice, established in 2000 in the capital Tashkent.

Marikon Audit is one of around 50 firms in the country that are licensed as audit practices, and one of fewer than 30 that are qualified to audit organisations with a state shareholding of greater than 51%. Audit clients include foreign-owned entities and joint ventures, together with various international development organisations.

According to a league table of audit firms published in 2005 by the Chamber of Auditors, Marikon Audit is ranked third in the market.

The firm is run by Natalia Kondratova, her daughter Marina and her son Nikolai. In total it has almost 40 personnel, including eight certified auditors.

The firm has three offices, two in Tashkent and one in Kokand.

The appointment of firms in Kazakhstan and Uzbekistan reflects a recent initiative by Russell Bedford International to develop a regional network of accounting and audit firms throughout Central Asia. Suitably qualified firms are currently being sought in Turkmenistan, Tajikistan, Kyrgyzstan and Mongolia.

For more information, contact Russell Bedford International on +44 20 7410 0339. Alternatively, visit the websites at www.businessconsulting.kz, www.marikon.uz and www.russellbedford.com .

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Note to Editors

Established in 1983, Russell Bedford International is a global network of independent firms of accountants, business consultants and specialist legal advisers.

Ranked as one of the world's top 15 accounting and audit networks, Russell Bedford is represented by some 460 partners, 5000 staff and 200 offices in more than 70 countries in Europe, the Americas, the Middle East, Africa and Asia-Pacific.

All Russell Bedford affiliates are well-established firms offering international business advice and services to local and multinational clients. Most provide a full range of services comprising accounting, auditing, tax advice, general business guidance and financial consulting. In addition, many have special expertise in particular fields, such as international taxation or information technology.

In January 2008 Russell Bedford International was been named one of the first 17 full members of the IFAC Forum of Firms after reporting it had implemented a globally coordinated quality assurance programme, committed to the use of International Standards on Auditing (ISAs), and met other specific ethics requirements.