|Friday, 02 July 2010 16:30|
HLB INTERNATIONAL TO STRENGTHEN COVERAGE IN THE UK
Following its share suspension on the AIM market on 14 June 2010, Vantis plc, former member of HLB International, confirmed on 30 June that it has entered administration and that its operating units have been sold to 3rd parties or acquired through management buy-outs.
HLB International can confirm that it is in discussions with prospective member firms in the UK to replace Vantis plc and will be updating its international members. It is also aiming to strengthen the UK's positioning within HLB through the establishment of a federation of UK-based firms, similar to its successful federations in a number of other member firm countries.
HLB International chief executive Rob Tautges said: "It is our highest priority to ensure stability in the UK and to protect our member firm interests. We have been monitoring the situation for months and are currently in discussions with several prospective firms in the UK.
He added: "Expanding the UK presence to improve geographic coverage will be more easily achieved without having to rely on the expansion plans of a publicly-held company.
"Our initial discussions with sizeable and reputable chartered accounting firms across the UK are proceeding well; the value of the HLB brand is established in the UK and HLB's global member firms are well-respected for responsive, timely and high-quality service."
HLB International has continued to build on its global expansion and coverage in the first half of 2010 and in the past two months has announced its first member firm in Zambia, a second member firm in Japan and two member firms in Norway as well as a significant acquisition of a US tax practice by one of HLB's US member firms.
Rob Tautges, chief executive officer + 44 (0) 20 7881 1100
James Frost, chief operating officer + 44 (0) 20 7881 1100
PR - Pelham Bell Pottinger
Polly Fergusson/Sarah Bagnall +44 (0) 20 7861 3923
Background to HLB International
HLB International is a fast growing, dynamic network of independent professional accounting firms and business advisers. Formed in 1969, HLBI ranks in the top 12 international accounting networks, servicing clients through its member firms in over 100 countries. HLB International is a member of the Forum of Firms and is ranked within the top 12 International accounting networks and continues to thrive.
HLBI focuses on quality and personal service, reinforced by regular quality assurance reviews of all member firms, an up-to-date ISA compliance international audit manual and membership of external professional bodies focused on quality issues. Member firms are well established locally with most firms ranked among the top twelve nationally.
Articles on the HLBI website are intended to provide general guidance on matters of interest. Before considering its application to your own circumstances, HLB International and the author recommend that you obtain professional advice from a suitably qualified person. Neither HLB International nor any member firm of HLB International accepts responsibility for any step you may take, or fail to take, on the basis of the above item.