Malaysia

BDO, the world's fifth largest accountancy network, is pleased to announce the appointment of a new member firm in Puerto Rico.

Previously known as Scherrer Hernandez & Co, BDO Puerto Rico was established in 2000 by two current partners, Fernando Scherrer and Gabriel Hernandez, and operates out of an office in San Juan, Puerto Rico. In addition, the new BDO firm has 3 further partners, 2 directors and 75 professional and support staff. Total fee income for the year ended 31 January 2012 was US$ 14 million.

The firm provides audit, accounting and business consulting services, as well as tax compliance and advisory. In 2011 alone, they grew their audit revenue by some 16%. Their local client base is strong and includes a governmental public insurance entity, as well as financial institutions, real estate, retail and distribution and construction companies.

President Fernando Scherrer is confident that joining BDO will mean that the firm will grow rapidly in the near future. “Our firm has maintained consistent growth since its founding and we are already ranked fourth among Puerto Rico's auditing and accounting firms. Becoming part of this well-established international network and benefiting from BDO's enviable reputation for delivering consistently exceptional client service is going to have a marked effect on our international client portfolio, in particular”.

“Our firm has always taken pride in challenging the accepted modes of service delivery and, based on our core ethics of trust and collaboration, we ensure that we provide the best results for all our clients. Our project delivery strategy is to deliver to clients on time, on budget and according to agreed scope”, adds Head of Tax, Gabriel Hernandez.

Martin van Roekel, CEO of BDO International Limited, said “I am very pleased to welcome such a reputable firm to our network and to our vibrant Caribbean region. We know that our clients expect more from their financial service providers and that they are looking for a tailored approach to their accounting needs that reflects the culture they work in and the kind of businesses they are. BDO Puerto Rico already has a strong local reputation for delivering service levels that consistently delight their clients and I know that they will join the BDO firms across this region in bringing up to date ideas to their clients and in delivering the high quality in their market that our clients worldwide expect".

“For our part, we will certainly provide this new BDO firm with the opportunity to develop and grow their business, and I look forward to seeing them join in the growth of the region as a whole”.