January 2010
BDO, the world’s fifth largest accountancy network, is pleased to announce the appointment
of a new member firm in Azerbaijan.
BDO Azerbaijan LLC joined the BDO network on 1 October 2010. Established recently in the
local market, the new firm will be a majority owned subsidiary of BDO Eurasia B.V., a
company formed by BDO and its member firms in Cyprus, Georgia, Israel, Kazakhstan, Russia
and Ukraine, with the objective of developing BDO activities in the Eurasia region.
Yunis Salayev, Managing Partner, is very optimistic about the future of the new firm: “The
economic and legal environment in Azerbaijan is changing fast. The government is
undertaking reforms in various areas and is at the same time aiming to increase the efficiency
of national businesses in order to be able to compete in regional and global markets.
More companies are now in search of value-added advice in order to improve their business
processes, and investors are looking for reliable assurance relating to the quality of their
assets. This will mean a demand for professional and experienced advisers in both the public
and private sectors, and we believe that a timely entry into the Azerbaijani market now will
enable us to establish and lead a firm that will satisfy the market’s need for quality and in
three years will become one of the top ranking professional services firms in Azerbaijan. BDO
will also provide significant career opportunities for talented and ambitious people who wish
to become part of the financial elite of our country”.
Jeremy Newman, CEO of BDO, adds “Establishing a BDO Member Firm in Azerbaijan is in line
with the strategic growth plans of BDO both internationally and in this region. Significant
effort has gone into the planning process by all parties involved, with invaluable input from
BDO Russia, and the local leadership team has solid experience in the market and already
holds strong relationships with key decision-makers in national organisations. Azerbaijan is
one of the fastest-growing economies in the world and I share Yunis’ optimism that the BDO
combination of national and international capabilities will enable us to build a strong and
successful firm that, within a relatively short period of time, can provide a full range of
professional services, including assurance, advisory, tax and outsourcing”.
Note to editors
Service provision within the international BDO network of
independent member firms (‘the BDO network’) is coordinated by
Brussels Worldwide Services BVBA, a limited liability company
incorporated in Belgium with its statutory seat in Brussels.
Each of BDO International Limited (the governing entity of the BDO
network), Brussels Worldwide Services BVBA and the member firms is
a separate legal entity and has no liability for another such entity’s
acts or omissions. Nothing in the arrangements or rules of the BDO
network shall constitute or imply an agency relationship or a
partnership between BDO International Limited, Brussels Worldwide
Services BVBA and/or the member firms of the BDO network.
BDO is the brand name for the BDO network and for each of the BDO
member firms.
The combined fee income of all the BDO Member Firms, including
the members of their exclusive alliances, was $5.03 billion in 2009.
The global network has 1,138 offices in 110 countries and more than
46,000 people provide advisory services throughout the world.
Contacts
Julia Henniker
Tel (+32 2) 778 0130
Brussels Worldwide Services BVBA
bws@bwsbrussels.com
Yunis Salayev
Managing Partner
BDO Azerbaijan LLC
Tel (+994) 12 4045255
Fax (+994) 12 4045244
ysalayev@bdo.az