New member firm in Iceland

BDO ehf, a newly established Icelandic firm, is anticipating rapid growth. The new firm’s objective is to become a respected audit firm in Iceland, providing assurance, tax, advisory and consulting services to the country’s public and private sectors.

BDO ehf is jointly owned by Sigrun Gudmundsdottir and Helga Hardardottir, who are the firm’s leading partners, and BDO Norway. Sigrun says: “Our firm’s values are based on reputation, honesty and trust and we can see a clear link between our strategic priorities and those of BDO. Our main emphasis will be on quality, supported by strong internal controls, which is an approach in keeping with BDO’s robust accreditation criteria”.

Helga adds: “Our approach to development is pragmatic. Owing to the current economic and political uncertainty in Iceland, we are starting slowly with minimum staff. That said, we know that the people we have on board currently have the necessary good name and goodwill necessary to win clients, and we believe that there is a gap in the Icelandic audit market for a new firm with a fresh aura”.

Martin van Roekel, BDO’s CEO Europe and Global Head of Network Development, welcomes the opportunities for BDO both in Iceland and in Scandinavia as a whole: “The relatively lowprofile manner in which BDO ehf is launching itself is unlikely to stay quiet for long – Iceland is a small economy where word spreads fast and the high profile and strong reputation of all so far engaged by the firm means that their reputation goes before them –the key executives hold teaching positions at Masters level at the University of Iceland, for example. Although the initial focus is on assurance, financial advisory and consulting services, the addition of tax expertise is not far away and they will become a full service firm in a very short space of time. Their credentials are impeccable and we look forward to a long and mutually beneficial cooperation between them, our Scandinavian network and the rest of the BDO