Executives contemplating cross-border transactions in emerging markets view local legal, tax and accounting systems as the biggest challenges to completing a transaction, according to a poll conducted by Deloitte Financial Advisory Services LLP.

The poll of approximately 350 executives of companies in a variety of industries was conducted as part of a Webcast, "Global M&A Transactions: Taming the Wild, Wild West (and East)," held earlier in February.

Approximately 40 percent of respondents cited differences in local practices, including legal, tax and accounting, as the most significant hurdle in cross-border transactions.

Other potential hurdles included: cultural differences; economic and political instability; lack of knowledge of the region; and lack of similarity of industry business practices. Accordingly, approximately 60 percent of respondents indicated that they rely most on their attorneys (35 percent), accountants (13 percent) or tax professionals (12 percent) during a cross-border transaction.

Geographically, 38 percent of participants identified Asia, including India and China, as the emerging market they might consider for new cross-border transactions.

An archived version of the Webcast is available at www.deloitte.com/us/fas.

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