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Greece - Tax & Accounting
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Date: 05-03-2009. - By BBN Administrator

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View Company Euroglobal SEE Audit Limited is celebrating their 30th year birthday this year- any thoughts looking back at the Euroglobal’s development?


The firm’s roots go back to 1978 where it began its operations under the name Damianou & Co, and continued with BKR Damianou & Partners Ltd for a number of years. In 2007 the company was renamed to Euroglobal SEE Audit Limited emphasising our strategy in South East Europe.  These past 30 years were very challenging however fulfilling when looking back. Euroglobal from a local accounting company has transformed to a quality professional services Group of companies operating in South Eastern Europe. Do you have memberships in any international organizations?


Since 1991 Euroglobal S.E.E. Audit Limited is an independent member of BKR International, a leading global association of independent accounting and business advisory firms representing the expertise almost 150 member firms with over 360 offices in over 75 countries around the world.   BKR member firms are committed to delivering the highest levels of personal client service and advice throughout the world.  BKR was ranked #8 in the IAB 2008 World Survey of Leading Associations of Independent Firms with more than $1.3 billion in annual fees Euroglobal Audit Ltd is also a member BKR Mergers & Acquisitions LLC. Through BKR Mergers & Acquisitions Group we offer comprehensive, global investment banking services for mergers and acquisitions; corporate finance, including private placement of debt and equity; and strategic partnerships and joint ventures. What services does your company offer?


Euroglobal delivers to its client’s access to local expertise, knowledge and experience combined with the advantage of a global outlook. 


Saying this Euroglobal offers a wide range of services including audit and assurance, taxation as well as business advisory services.  All our offices follow a unique audit approach which we have developed over the many years of experience and practice in this area. Our approach is tailored made for every engagement assigned and for the environment our client operates in. Which countries in the region of the Balkans does your company operate in?


Euroglobal has fully fledged offices operating in Cyprus, Greece, Bulgaria, Romania, Serbia, F.Y.R. Macedonia, Albania and Montenegro. You have become a shareholder in Euroglobal this year?It was a great honour for both my colleague Angelos Theodorou and me to be appointed shareholders last year. We believe that our appointments reflect the firm’s commitment to recognizing and rewarding excellence in its people. How many years have you been operating in the Region? What has been your involvement in each country’s development and progress?


We have been active in the Region for over 10 years now initially working with associates and eventually establishing our fully fledged offices.


Our aim is to assist the local economy by attracting foreign investment through our marketing efforts.  Furthermore, we have become an integral part of this Region being involved in a number of chambers, sponsorship of events and assisting in the economic and intellectual development of each country.


We have a staff over 100 people working in all our countries of operations which we invest heavily on their education and trainings. Furthermore, we have substantial investments in technology in every country.


This year we will also begin offering ACCA (Association of Chartered Certified Accountants) courses in Serbia for people who want to build a career as auditor. Euroglobal is an ACCA Approved Employer as well approved trainer for the Institute of Chartered Accountants in England and Wales (ICAEW) for which means that we are authorized to professionally train and develop future auditors. In the future we plan to offer these courses in other countries as well. What is your business focus for 2009 given this Global Crisis?



We will positively continue to delight our existing clients and attract more clients for financial audit, tax accounting and advisory services.


The Romanian economy has started feeling the effects of the global financial crisis. We will sustain and advise Romanian companies being in search of alternative financing sources. We are assisting potential investors interested to participate in Romanian Companies through due diligence projects.


One factor of economic increase for 2009 will be the EU financed infrastructure investments; therefore we will focus on financial audit of EU projects.


All the companies are requesting efficient risk and tax efficient strategies management and we are bringing added value in their business through our expertise.


The expected increase of the Tax Audits on behalf of the Ministry of Finance in 2009 will be leading to increase of requests for tax accounting, tax compliance and tax advisory in view of minimizing the exposure risks in this field. We assist our clients with in order to optimize the tax position and their international transactions. Our readers are investors and businesses that are already present or are considering business in Romania. What advice do you have for them?


As the representatives of EBRD stated : "Romania continues to have favorable long-term prospects, but the short term is bound to see a slowdown in economic growth, and the key challenges will be to maintain fiscal discipline and to attract further investment into companies and infrastructure”.


In the actual economic context, our advice for the investors in Romania is to focus their attention on cash flow, estimated return on investment, reporting and forecasting processes.


Our team of experienced financial auditors, financial analysts and tax advisors will essentially support the investors in design and improve Romanian and international business approach. With challenges sometimes come opportunities, what opportunities do you foresee in this region for 2009?


 Our general view on the market for 2009 is that it is a buyer’s market; the sell opportunities are real and should present good value and returns for prospective investors/buyers.


Euroglobal is not really targeting specific sectors; we prefer to rather be guided by investor/buyer criteria which differ from sector to sector.



For e.g. institutional investors in commercial real estate projects are looking for min yields of 10% and advance funding against secured rentals.



We can act for both the buyer and the seller and we provide: deal and payment structuring, project/ ownership/financial analysis, Due Diligence and tax/corporate structuring.



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