Mennix dan Rekan Registered Public Accountant
FinExpertiza is a rapidly developing international network of independent professional audit, valuation and consulting firms that was established in 2013 and today unites more than 1,200 professionals from 20 companies representing 16 countries. The network headquarters are in Moscow.
FinExpertiza is regularly in the TOP-30 of the world’s biggest audit and consulting networks.
According to the The International Accounting Bulletin, among international audit
and consulting networks operating in Russia in 2019, FinExpertiza Network ranks:
• 8th - in terms of revenue
• 7th - in terms of the number of employees
In 2014 FinExpertiza joined the Forum of Firms (under IFAC), an independent association of international networks of firms that perform transnational audits. Today, the Forum of Firms includes 27 biggest audit networks of the world.
The FoF membership assures that FinExpertiza Network provides high quality services in compliance with global standards on auditing, consulting, valuation and legal practices.
Members of the FoF must demonstrate their commitment to adhere to and promote the consistent application of high-quality audit practices worldwide, as detailed in the FOF Constitution. This is manifested in:
- Adherence to international quality control standards;
- Carrying out regular internal quality reviews;
- Policies and procedures to perform transnational audits based on international standards.
Uniting competences of more than a thousand professionals from the CIS countries, Europe, North Africa and Asia, we provide local and international companies with the whole range of services on comprehensive business support anywhere within our geographical footprint, ensuring high responsiveness to clients’ requests, provision of high quality services, deep knowledge of the specifics of local markets, compliance with all international standards and support on the national market.
About Forum of Firms
Audit, like any other industry (whether mechanical engineering, oil production, banking or other) uses technologies. In every sphere of business, there are leading companies using innovative technologies including developing and implementing latest methods and approaches to quality control of products and services. The same is for technologies as well when there are those recognized by an international professional community as the best and most advanced.
The Forum of Firms brings together the largest international audit networks that apply best practices in audit. Membership in this association of professionals in the global audit market involves the consistent application of recognized standards of auditing practice throughout the world and the full support of convergence of national standards with the International Standards on Auditing (ISA).
Admission of a network by the Forum of Firms is the acknowledgment of professional, technological and logical level of this network by leaders of the international audit community.
Why did FinExpertiza Network join the Forum of Firms?
Now, the Forum of Firms includes about two dozen of audit networks. FinExpertiza is the first Russian network that joined the community of the best.
Initially, the "high league" on audit encompassing those making international rules and standards was formed without participation of Russia. Later national auditors began to actively join the international professional sphere. Russian auditors joined, for this purpose, international networks, and got access to technologies under their auspices. Of course, this is also a way that is easier and requires less effort from a company.
FinExpertiza chose another, more complicated way and, as a result, is the only Russian network that, thanks to own technologies, methods and approaches and high quality services, has been acknowledged by the international community through admission to the Forum of Firms. We initially understood that interaction with the leaders of the global audit market was necessary, but also realized that it was not enough for us to receive information and technologies from outside. We, as the Russian audit network, have great potential and want to contribute to the development of the international audit sphere. Now we have such an opportunity. The management and leading auditors of FinExpertiza Network are already connected to the huge methodological work that takes place at IFRS level.
Audit technologies are developing very quickly. Therefore, we need serious, prompt and comprehensive professional exchange that will allow us to keep abreast of new trends, communicate, adapt and implement them best for our customers. We hope that the membership of FinExpertiza in the Forum of Firms will accelerate professional development of the Russian audit market.
Why is our membership in the Forum of Firms important for our clients?
Our clients are the best among national business players. We deserved recognition in Russia many years ago, which was repeatedly confirmed by our ratings and awards.
Joining the Forum of Firms is an international acknowledgment of our technologies and high quality services. Thus, our clients receive confirmation as to compliance of the quality control system with the international standards.
Of course, the responsibility that we assumed is now much more significant. We could not afford departure from standards before, and now this position is strengthened by the responsibility as to the international audit community.
For more information about the Forum of Firms, please visit https://www.ifac.org/who-we-are/committees/transnational-auditors-committee-forum-firms