OREANDA-NEWS. May 15, 2009. Previously Tbilisi Managers & Consultants Ltd, the new BDO Member Firm will go under the legal name of BDO Georgia Ltd. The Israeli Member Firm of BDO International has made an investment into the business and will be providing strategic advice and counsel to the new Georgian firm, reported the press-centre of BDO.

Established in 1999, the firm is well-known within the Georgian business community and focuses on audit, tax consulting, accounting and legal services. The firm is headquartered in Tbilisi and has seen growth in turnover of approximately 50% per annum since its inception.

The number of partners and staff together total 51 and the board of directors of the new firm will consist of 3 people, two acting on behalf of current shareholders and one on behalf of the Israeli BDO Member Firm.

Managing Partner, Zurab Lalazashvili, who is a member of the governing body of the Georgian Federation of Professional Accountants & Auditors, says of the new relationship with BDO: ‘We are honoured to become part of BDO International. The majority of our current clients are Georgian-owned companies, some privately owned and some owned by the Georgian government, and a large number of them aspire to become multinational companies in the future: being part of the BDO network will facilitate our assisting them in achieving their growth objectives. Furthermore, our firm’s values and strategy have a great synergy with those of BDO and we are confident that this partnership will enable us to become a true challenger to the global competitors in Georgia, among whom we currently rank number 4’.

Jeremy Newman, CEO of BDO International, adds: ‘This development gives BDO a strong presence in the rapidly growing Georgian market and is in keeping with our strategy to increase our network’s representation in Eastern Europe. The new BDO firm’s growth ambitions are centred very much on ensuring the recruitment and retention of talented and motivated people and as such will further BDO’s reputation in the region for offering partners and staff unequalled flexibility and autonomy within a stimulating working environment’.