RSM New Zealand evolves to meet the changing landscape

PRESS RELEASE
2 February 2015

RSM New Zealand evolves to meet the changing landscape

RSM Prince and Hayes Knight Audit are delighted to announce the combination of their respective businesses to form RSM New Zealand.

The new RSM New Zealand group now consists of business advisory and tax firm RSM Prince and specialist audit and assurance firm RSM Hayes Audit.

Financial audit, more so than many other professional services, has been under the blow torch of change in New Zealand for some time now. Where once, almost any accountant used to be able to “do a few audits” recent times have seen auditing evolve into an increasingly specialist skill set.

This has been brought on by a number of significant factors including:

• The creation of a new financial reporting framework in New Zealand

• International Standards on Auditing becoming more detailed, complex, and prescriptive

• A new auditor licencing regime and increasing complexity of regulatory compliance

• Professional indemnity insurance cost increases making it uneconomic for part-time auditors These factors have created the strategic need to grow and strengthen the specialist audit and assurance practice to meet these challenges, whilst still maintining a core focus on business advisory and tax. As a result Hayes Knight Audit and RSM Prince combined the audit and assurance businesses to form RSM Hayes Audit effective 1 January 2015.

“Our newly combined specialist audit and assurance practice brings together the experience, local knowledge, and expertise of both firms with the significant international strength, support and connections of the RSM network.” Craig Fisher, Chairman, RSM New Zealand RSM is the seventh largest international accounting network of independent audit, tax and advisory firms in the world and this business combination will significantly strengthen the presence of RSM in New Zealand.

RSM's specialist audit and assurance practice will now rank as the 6th largest in Auckland and whilst maintaining offices in four locations across Auckland, RSM New Zealand will look to further extend its national client base.

“Our legacy in New Zealand spans 70 years and our clients range from family owned businesses to international corporations. With the assistance of RSM International and our membership of NZ CA, an Association of 29 quality Independent Chartered Accounting firms throughout New Zealand, the future outlook for RSM New Zealand and its clients is very positive.” Grant Hally, Managing Partner, RSM Prince.

RSM New Zealand is part of RSM International - the 2014 Accounting Network of the Year award winner, with over 100 entrepreneurial member firms across the globe providing professional audit, tax and advisory services. Who better to help you plan, manage, grow, and protect your business?

To find out more connect to www.rsmnz.co.nz

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