At KPMG, we stimulate discussion and debate about matters affecting the business and public sector communities. Hence, we are hosting our "2010 Spring Forum" to invite representatives of top Romanian and multinational companies to meet and exchange views.

Responding proactively to client needs, KPMG in Romania has recognized that financial statements preparers in Romania need local language International Financial Reporting Standards (IFRS) illustrative financial statements and has launched the publication Illustrative Financial Statements under International Financial Reporting Standards.

The new KPMG in Romania brochure is now available. It contains full details of our Audit, Tax and Advisory services, and how KPMG in Romania can assist both Romanian and multinational companies with a wide range of issues relating to the development of their business in the current challenging economic climate.

KPMG in Romania has published a second edition of its study comparing International Financial Reporting Standards (IFRS) with Romanian Generally Accepted Accounting Principles (GAAP) for Romanian credit institutions. Our study revealed that the impact on banks of the differences between Romanian GAAP and IFRS increased in 2008 and continued to do so in 2009, mainly due to lower IFRS impairment provisions for loan portfolios as compared to Romanian GAAP.

Now is where yesterday and tomorrow meet. In Romania we celebrated 15 years of yesterdays. These we know, can measure and can enjoy. What do we know about tomorrow? When you have over 600 staff in Romania and 137.000 worldwide, it is a rare event that has not been experienced by us at some point.