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Tuesday, April 13, 2021

International accounting firm opens shop in South America’s newest O&G hotspot

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Binder Dijker Otte, an international network of public accounting, tax, consulting and business advisory firms which perform professional services under the name of BDO, has announced the opening of its office in Guyana, the newest oil producing country on the South American continent.

The company said last week that the Guyana team is entirely staffed by local personnel and is headed by Rakesh Latchana, a member of the local accounting fraternity for over 20 years. He is also a member of the SME Implementation Group of the International Accounting Standards Board.

At a reception held at the Guyana Marriott Hotel to launch the Guyana office, Latchana said he was “extremely proud” to be a part of this historic occasion.

“One of the largest professional services firms in the world is now firmly established in the Guyana market. BDO’s global vision and brand promise is to be the leader for Exceptional Client Service and our clients can expect to see this promise delivered,” he said.

BDO officials at the opening of its office in Guyana

BDO has 21 offices across the Caribbean and 1,617 offices worldwide with 88,120 people on staff. BDO offices have served Guyanese companies and regional companies with operations in the South American country for over 10 years. The Guyana office will have access to global network resources and will be working especially close with teams in Trinidad and Suriname.

“More recently, BDO’s UK office served as the Independent Administrator to prepare Guyana’s first EITI report – that report was released in April 2019,” Latchana said, referring to the first Extractive Industries Transparency Initiative report submitted by Guyana on April 25, 2019.

Global revenues for the year to September 2019 totaled US$9.6 billion or €8.5 billion, a 10.1% increase over the previous year.

“We have heard both lofty and tempered predictions on expected growth in Guyana’s economy from the year 2020. Regardless of who you believe has adopted a more appropriate model – one thing is clear; we are on the cusp of a transformation. There was never a better time for BDO to firmly establish its presence,” Latchana stated.

BDO, Chartered Accountants, a Guyana partnership, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms.

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