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Kreston Global
Native name
Kreston International Ltd.
Company typePrivate
IndustryFinancial services
Founded1971
FounderGabriel Brösztl, Michael Ross
Headquarters
London
,
UK
Area served
Worldwide
ServicesAccountancy services, advisory, audit and assurance services, outsourcing services, tax services and indirect taxes

Kreston Global is a network of 160 accountancy and financial services firms worldwide ranked the thirteenth largest network of accounting, auditing, and consulting firms in the world by the International Accounting Bulletin’s annual rankings survey.[1][2][3]

History

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Kreston Global was formed in London in 1971[4] by two entrepreneurs, Gabriel Brösztl and Michael Ross when the German firm Bansbach (at the time led by Gabriel Brösztl) formed a relationship with the UK firm Finnie.[2][5]

The first member firm, Groupe Fiduciaire Kreston in Paris, was added shortly after.[6] In 1981 Kreston Global had six firms in UK, Netherlands, West Germany, Denmark, France and Sweden.[7]

By 1991, the group expanded and established a formal structure.[7] In 2000, after serving as Chairman of Kreston for 29 years, Dr Gabriel Brösztl stood down.[8]

In 2001, the Group expanded its operations to mainland China.[9][10] Clive Stevens, Chairman of Kreston Reeves UK, began serving as Kreston Chairman, a role which he held until 2012.[11][12][13][14][15]

In 2008, Exco France, a network of 23 independent firms, located throughout France, and its correspondent members in 11 French-speaking African countries joined Kreston Group.[16][17] The group also added additional locations in Poland, West Indies, New Caledonia and Reunion.[18] That same year, Costa Rica was added to Kreston's Central America group which also included El Salvador, Guatemala, Honduras and Nicaragua.[19][20] In 2011, Kreston was named a full member of the Forum of Firms.[21][22] In 2012, Franck Parker, CEO of Exco France, took up the role of Kreston International Chairman.[18][23][24] Also in 2012, the Kreston Academies Benchmark UK Report was launched, Kreston's joint annual publication that assesses the finances of 1,400 academy schools in 300 academy trusts.[25][26]

In 2015, firms in the major markets of the UK (Kreston Reeves and James Cowper Kreston), Germany and the Netherlands joined the Kreston.[27][28] In 2016–2018, new member firms in South-East Asia, Middle East, Europe and Africa joined the Kreston Group.[29][30][31][32] In 2022 new firms in Saudi Arabia, Kuwait, and Lebanon, amongst others, joined the Group.[33][34] The following year, Kreston Pedabo in Nigeria joined the group.[35][36][37][38][39]

Operations

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Kreston Global's network includes 160 independent accounting firms in 114 countries, with 830 offices and over 27,000 people employed. Each Kreston Global member is an independent practice with sole responsibility for its own work, staff and clients.[40] The company is headquartered in London.[41]

References

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  1. ^ "World Networks fee and staff rankings - IAB | Issue 630 | World Survey 2022". accounting.nridigital.com. 2022-08-02. Retrieved 2024-03-07.
  2. ^ a b "Kreston Global celebra 50 años de éxito". lapublicidad.net. 2021-09-28. Archived from the original on 2021-10-25. Retrieved 2024-03-07.
  3. ^ "Top 20 International Networks 2020". Accountancy Age. Retrieved 2024-03-07.
  4. ^ Bowman's Accounting Report. Hudson Sawyer Professional Services Marketing. 1994.
  5. ^ Bansbach Schübel Brösztl & Partner relies on internationality Frankfurter Allgemeine Zeitung, November 8, 1999, No. 260, p. 22
  6. ^ Le Monde Diplomatique, 1978, France, French (in French). 2024-03-04.
  7. ^ a b David L., McKee; Garner, Don E.; AbuAmara McKee, Yosra (2002). Crisis, Recovery, and the Role of Accounting Firms in the Pacific Basin. Bloomsbury Publishing. pp. 103–104. ISBN 9780313006784.
  8. ^ "Kreston Annual Review by omar de luna - Issuu". issuu.com. 2013-03-19. Retrieved 2024-03-07.
  9. ^ "Perspectives from Mainland China, Hong Kong and the UK on the Potential Future Roles of China's Auditing Firms in the Global Profession". papers.ssrn.com. 2018-01-22. SSRN 3101435. Retrieved 2024-03-07.
  10. ^ The Big Four and the Development of the Accounting Profession in China. Emerald Group Publishing Limited. 2014. ISBN 9781783504862.
  11. ^ Clark, Nigel (2015-04-03). Professional Services Marketing Handbook: How to Build Relationships, Grow Your Firm and Become a Client Champion. Kogan Page Publishers. ISBN 978-0-7494-7347-1.
  12. ^ "Clive Stevens". Canterbury Christ Church University. Retrieved 2024-03-07.
  13. ^ "New international tax boss". Kent Online. 2015-03-26. Retrieved 2024-03-07.
  14. ^ "Mixed news expected in Autumn Statement". Kent Online. 2016-11-23. Retrieved 2024-03-07.
  15. ^ "UK entrepreneurs set to liquidate companies over tax rule changes". www.ft.com. Retrieved 2024-03-07.
  16. ^ Bessais, Raja (2017-02-02). "La CONECT International au Salon des Entrepreneurs à Paris". Webmanagercenter (in French). Retrieved 2024-03-07.
  17. ^ "EXACTT Consulting adhère au premier réseau international panafricain Exco-GHA". ilboursa.com (in French). Retrieved 2024-03-07.
  18. ^ a b "Franck Parker Un Frenchie à la présidence de Kreston". Les Echos (in French). 2012-09-24. Retrieved 2024-03-07.
  19. ^ "Accounting Firm from Costa Rica Joins International Group". Costa Rica Star News. 2016-07-10. Retrieved 2024-03-07.
  20. ^ "Kreston expands footprint in Costa Rica, Tajikistan and Indonesia". www.consultancy.uk. 2016-07-07. Retrieved 2024-03-07.
  21. ^ "Forum of Firms. An overview of the roles, responsibilities, and activities of the Forum of Firms and TAC" (PDF). ifac.org. September 2019. Retrieved 2024-03-07.
  22. ^ Orlik, Rose (2011-04-14). "Forum of firms welcomes Kreston International". Accountancy Age. Retrieved 2024-03-07.
  23. ^ Martí, Mercè (2018-02-26). "Interview with Bent Kofoed, Kreston Chairman: "Our future success lies in the hands of the next generation"". Mercè Martí Queralt - Kreston Iberaudit. Retrieved 2024-03-07.
  24. ^ "Rich Howard, CPA". MHM. Retrieved 2024-03-07.
  25. ^ "Half of primary single-academy trusts went into deficit last year | Tes". www.tes.com. Retrieved 2024-03-07.
  26. ^ "Academy finances: Surpluses aren't all they appear to be". schoolsweek.co.uk. 2022-01-27. Retrieved 2024-03-07.
  27. ^ "Kreston expansion welcomed". Isle of Man. Retrieved 2024-03-07.
  28. ^ "Kreston adds member firm and rebrands another in the Netherlands". www.consultancy.eu. 2018-05-26. Retrieved 2024-03-07.
  29. ^ "Japan Tax, Accounting Tie-Ups Spurred by Foreign Investment". news.bloombergtax.com. Retrieved 2024-03-07.
  30. ^ "Kreston adds Bangkok based Thai Info to network". www.consultancy.uk. 2015-07-31. Retrieved 2024-03-07.
  31. ^ "Singapore based Ardent Associates joins Kreston". www.consultancy.uk. 2015-08-07. Retrieved 2024-03-07.
  32. ^ "RSM Italy leaves RSM International to join Kreston". www.consultancy.uk. 2015-05-21. Retrieved 2024-03-07.
  33. ^ Payne, Emily-Rose (2022-08-16). "Kreston Global adds new Saudi member firm". accountancytoday.co.uk. Retrieved 2024-03-07.
  34. ^ "Kreston expands MENA presence with new firms in Bahrain and Kuwait". www.consultancy-me.com. 2022-02-16. Retrieved 2024-03-07.
  35. ^ Fabunmi, Funmilayo (2023-10-11). "Pedabo joins Kreston Global Network". Punch Newspapers. Retrieved 2024-03-07.
  36. ^ "Nigerian Accounting Firm, Pedabo Joins Kreston Global". 2023-10-11. Retrieved 2024-03-07.
  37. ^ "Kreston join ties with Pedabo on accounting services". The Guardian Nigeria News - Nigeria and World News. 2023-10-12. Retrieved 2024-03-07.
  38. ^ Olatunji, Eniola (2023-10-11). "Kreston adds Nigeria's Pedabo to improve accounting services". Businessday NG. Retrieved 2024-03-07.
  39. ^ Oamen, Samuel (2023-11-14). "Pedabo recounts progress in Nigeria, opts for global footprint". thenationonlineng.net. Retrieved 2024-03-07.
  40. ^ "Accounting network Kreston Global's annual conference opens in Dubai". gulfnews.com. 2023-12-05. Retrieved 2024-03-07.
  41. ^ "Kreston moves to new London headquarters as it looks to a bright future". Kreston Global. 2019-10-08. Retrieved 2024-03-07.

Further reading

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  • Hussey, Roger; Ong, Audra (2005-04-22). International Financial Reporting Standards Desk Reference. John Wiley & Sons. ISBN 978-0-471-72715-6.
  • Saudagaran, Shahrokh M. (2001). International Accounting. Mason, OH: Thomson South-Western. ISBN 978-0-324-02361-9.
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