Auditing

Ernst & Young Returns to Iraq

The new Baghdad office will be part of a grander strategy to increase E&Y's Middle East presence in a big way.
Stephen TaubFebruary 13, 2004

Ernst & Young believes Iraq is safe–and ripe–for accountancy. The Big Four firm plans to reopen its office in Baghdad over 80 years after it first began its Middle East operations there, according to accountancyage.com.

The move is part of a more ambitious plan to boost growth significantly in the Middle East over the next five years, the Web site reported.

Ahmed Al-Aiban, chairman and chief executive of E&Y Middle East, reportedly expects “substantial demand” for its services in the Iraqi market. “We are happy to be back in the Iraqi market as Iraq holds a lot of sentimental value for us,” he added.

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E&Y began its operations in the Middle East in 1923 when it opened its first Baghdad office. It now has 1,800 staff in the region with operations in 12 Arab countries.

“The Middle East represents a fast growing and sophisticated commercial region which requires the right business advisory services founded on the highest standards of quality and risk management,” said Nick Land, UK chairman of Ernst &Young, as quoted by Ameinfo.com.

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