Ernst & Young tie up with local firms
Ernst & Young tie up with local firms
JAKARTA (JP): Ernst & Young of the United States has entered
into an alliance with two local accounting firms, Hanadi Rahardja
and Sarwoko & Sandjaja, to benefit from the country's growing
need for consultancy services.
Ernst & Young Indonesia's Peter Knox said the alliance would
allow the New York-based consultancy company to increase its
number of Indonesian clients.
"The partnership is needed for our business to grow and to
expand opportunities for our people," Peter said.
The deal was signed on Oct. 1 and was expected to benefit all
parties, Iman Sarwoko, the new alliance's managing partner, said
on Thursday.
Iman said that Ernst & Young was a quality firm whose
strengths would benefit its local partners.
Ernst & Young is aware of the growing opportunity in Indonesia
in the area of corporate restructuring, Iman said.
He added that Ernst & Young was working on a number of
prestigious contracts with the Indonesian government. One of the
contracts is to assist Asset Management Unit (AMU) evaluate the
assets and liabilities of problem banks.
AMU, a special task force created as part of the government's
bank restructuring program, is designed to manage, restructure
and sell the assets of problem banks.
Hanadi Rahardja, the chairman of the alliance, said that the
alliance would allow the local firms to help clients become
global corporations.
"The alliance will provide us with the knowledge and
opportunities available from the 85,000 Ernst & Young
professionals worldwide," Hanadi added.
On the domestic investment climate, Peter Knox observed that
well-informed foreign investors had confidence in Indonesia's
underlying economic fundamentals while demanding more certainty
in the political and economic spheres.
Ernst & Young provides auditing, taxation, management
consulting, corporate advisory and business advisory services.
The firm operates through member firms in over 132 countries
with worldwide revenues of US$11 billion. (02)