Raymond Doherty 8 Jan 2019 11:18am

UHY International moves into Nepal

The accountancy network has continued its recent expansion spree with the addition of a Nepalese firm

UHY International has added Suvod Associates, which has a head office in Kathmandu and a branch office in Itahari. It has a team of 42 including two partners and offers core services of tax, audit and management consultancy with both domestic and international clients.

The firm is adopting the UHY’s branding and will be known as UHY Suvod Associates, Chartered Accountants.

Suvod Kumar Karn, managing partner of Suvod Associates, said, “Our country is transitioning towards an economy focused around manufacturing and services, bringing opportunities to Nepal for reconstruction, investment and growth.”

Last month UHY International acquired a new firm in Brazil. Bendoraytes & Cia – Auditores Independentes was previously a member firm of Crowe Horwath.

Bendoraytes, which is based in Rio de Janeiro, was founded in 1960 and has a team of 87 people, including 10 partners.

In October last year, UHY added the Sri Lankan firm Centra Management. It also added GEWORD, a Georgian firm based in Tbilisi, in June 2018.

The network, which has a presence in 95 countries and is in the top 20 largest global accounting networks, appointed Rick David as its new global chairman in November. He was previously the COO of its US member firm UHY Advisors.