BDO International has Georgia on its mind, but not necessarily the Georgia you might be thinking of.
The global accounting network has added a new member firm in Tbilisi, Georgia, expanding its presence to the former Soviet republic.
The new BDO member firm, Tbilisi Managers & Consultants Ltd., will now operate under the name BDO Georgia Ltd. The Israeli member firm of BDO International has made an investment in the business and will be providing strategic advice and counsel to the new Georgian member firm, which is based in the Georgian capital.
Tbilisi Managers & Consultants was established in 1999 and now has a total staff of 51. The firm, currently the fourth largest in Georgia, is well known in the business community and has experienced consistently strong growth since its inception, according to BDO. Managing partner Zurab Lalazashvili is a member of the governing body of the Georgian Federation of Professional Accountants & Auditors.
We are honored to become a member of the BDO International network, he said in a statement. The majority of our current clients are Georgian-owned companies, some privately owned and some owned by the Georgian government, and a large number of them aspire to become multinational companies in the future. As a member of the BDO network, we will be in a position to assist them in achieving their growth objectives. Furthermore, our firms values and strategy have a great synergy with those of BDO and we are confident that this partnership will enable us to become a true challenger to global competitors in Georgia.
BDO is expanding to the republic despite recent turmoil, including an armed mutiny at a military base near the capital on Tuesday. Georgian officials at first blamed their neighbor Russia for the mutiny, which the government quelled peacefully, but then backed away from the assertion after Russia challenged it.
BDO is expanding to the republic as part of an overall effort to grow its business in Eastern Europe. In the U.S., the network is represented by BDO Seidman. This addition gives BDO a strong presence in the rapidly growing Georgian market and is in keeping with our strategy to increase our networks representation in Eastern Europe, said BDO International CEO Jeremy Newman (pictured).
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