Deloitte plans to focus on structural funds

Deloitte plans to focus on structural funds

The Romanian subsidiary of international Deloitte consultancy and audit group is interested in providing consultancy services to companies aiming to access EU structural funds, according to company officials, Business Standard daily reports.
This emerging market segment is currently estimated at some EUR 500 million, the equivalent of 2-3 percent of the total of EUR 17 billion in funds allocated to Romania for development, according to an estimate made by the President of Deloitte Romania, George Mucibabaci, for Business Standard.

Deloitte registered turnover of EUR 18.3 million in the 2006-2007 fiscal year which ended on 31 May 2007, and a market share of 20 percent, according to company estimates.

Deloitte Romania, local subsidiary of American Deloitte group, registered annual growth exceeding 40 percent, and estimates an increase in turnover of at least 40 percent, to some EUR 25-26 million, with the company’s main activity being auditing services (some 50-55 percent of total services).

The company is also planning to expand outside Bucharest, with two offices scheduled to open next year. Deloitte is the latest member of the Big Four (Deloitte, KPMG, Ernst&Young and PriceWaterhouseCoopers) to open branches in major Romanian cities.

PriceWaterhouseCoopers expanded to Cluj-Napoca, Timisoara and Constanta, while Ernst&Young has an office in the city of Cluj-Napoca. KPMG is to open a branch in Cluj-Napoca this week and already has one in Timisoara.