KPMG Representatives in Mongolia

One of world’s largest professional advisory service companies, KPMG is interested in entering Mongolian market.
Representatives of KPMG China and Korea have arrived in Mongolia for symposium “ Business Issues for Mongolian Decision makers” organized by Onch-Audit, local Mongolian auditing company. Managing partners of KPMG Korea, Young Hyo Kim, Ken Lee from Korea and David Xu, Khoonming Ho from KPMG China gave series of presentations for representatives of Mongolian businesses at Khan Palace, Kempinski hotel, Ulaanbaatar today. The presentations were titled “ Accessing International Capital Markets”, “ Investment Outlook and Fundraising Strategy”, “ Foreign Direct Investments in Mongolia from China and Korea”.
Mongolia started to use GAAP (Generally Accepted Accounting Practices), international accounting standards since 1994.However, According to Onchinsuren, Director of Onch-Audit, “there are some pervasive and fundamental issues in current Mongolian accounting and management information system. Businesses interested to invest in Mongolia lack incomplete data about economic events. Mongolian companies still have inefficient use of internal accounting control. Management accounting practice is underdeveloped in Mongolia.”
Francis Siu, China regional leader of KPMG said “ Mongolia has three distinctive advantages. These are, abundance of mineral resources like gold, copper, coal, uranium, relatively well educated young population, closeness to big markets of China and Russia.”
KPMG is a global network of professional firms providing audit, tax and advisory services.

By Ganbat, reporter of MonInfo News Services

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1 comment:

  1. KPMG is a one of the four big accounting firms in the states. Bi end Seattled amidardag mongol hun baina, bi endhiin KPMG d ajild oroh gesen yum. Manai eej KPMG giin senior auditor hiideg mongol hun baidag gelee. Ter hunii emailiig olj tuslaj ugnu uu gej asuuh gesen yum. Tegvel ih bayarlah baina. Minii hayag herlen_t@yahoo.com--> Herlen, Seattle, WA aas. Thank you

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