PRICEWATERHOUSECOOPERS GRANTED LICENSE TO OPERATE IN ARMENIA
ARMENPRESS
March 12, 2008
YEREVAN, MARCH 12, ARMENPRESS: Armenia’s finance and economy ministry
has granted a license to PriceWaterHouseCoopers firm to offer auditing
services in Armenia.
The license was handed today to Clifford Isaac, the executive manager
of the company’s Armenia branch, by deputy finance and economy minister
David Avetisian.
PriceWaterHouseCoopers (or PwC) is the world’s largest firm of
accountants. It was formed in 1998 from a merger between Price
Waterhouse and Coopers & Lybrand, both formed in London.
PricewaterhouseCoopers earned aggregated worldwide revenues of $25
billion for fiscal 2007, and employed over 146,000 people in 150
countries.
In the United States, where it is the third largest privately owned
organization, it operates as PricewaterhouseCoopers LLP.
PricewaterhouseCoopers is a Big Four auditor, alongside KPMG, Ernst &
Young and Deloitte Touche Tohmatsu.
David Avetisian said the company was getting the license at a time
when Armenia’s reforms were being acknowledge by international
organizations.
Clifford Isaac said launching operation in Armenia was very important
for their company since there is great demand here for global customers
and local companies.
He said the firm is trying to help the government initiative to
introduce international accounting and auditing standards.
Armenia has become the 150-th country in which the firm has now its
office. Armenia has 31 licensed auditing firms and four individual
auditors.