Global accounting network UHY admits Suvod Associates of Nepal

10 January 2019 3 min. read
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International accounting network UHY has broadened its Asia Pacific presence with the admission of Suvod Associates of Nepal.

Ranked within the twenty largest accounting networks globally, the UK-headquartered UHY has among its 320 locations in almost 100 countries worldwide numerous offices spread across Asia, including bases in Indonesia, Vietnam, Thailand, the Philippines, Singapore, South Korea, Japan, Taiwan and Greater China. In South Asia, UHY’s presence includes Sri Lanka, Bangladesh, Pakistan, India and now Nepal – with the admission of Suvod Associates.

Recently celebrating a quarter of a century of operations, Suvod Associates was founded in the year 2050 on the Nepali calendar – or 1993 according to the Gregorian system – and is headquartered in Kathmandu with an additional branch in Itahari in the southeast of the country. Through a team of 42 professionals led by two partners Suvod provides audit and assurance, tax, and management consultancy services to local and international clients.

“Our firm has joined the UHY network for many reasons and is committed to provide the necessary resources to help our clients operate more efficiently, grow their business, and achieve new levels of success in today's increasingly competitive market place,” said Suvod Kumar Karn, Managing Partner of Suvod Associates – which counts among its clients those predominantly in the aviation, telecommunications, hospitality, and governmental sectors.International accounting network UHY admits Suvod AssociatesKarn continued: “Our country is transitioning towards an economy focused around manufacturing and services, bringing opportunities to Nepal for reconstruction, investment and growth… The global presence of the network combined with the expertise and knowledge of UHY’s 8,100 colleagues around the world not only strengthens our own commitment and capabilities, locally and regionally, but will also enhance these of our clients and their operations.”

UHY chairman Rick David, a former 30-year partner with KPMG, responded in kind: “We are delighted to welcome Suvod Associates to the UHY network. We very much support the firm’s ambitions to expand their coverage in the wider territory… Nepal, a growing economy surrounded by two of the world’s most significant economies, India and China, reinforces our footprint in the Asia-Pacific region and strengthens UHY’s regional and international market expertise.”

The admission of Suvod marks UHY’s second South Asian country expansion in a matter of months, with Centra Management Associates of Sri Lanka added in October. Established in 2012, Centra is of an almost identical size to Suvod, with a team of 41 led by two partners spread across a base in Colombo and satellite office in Kandy providing a full suite of audit and assurance, accounting and business advisory services.

“We are delighted to welcome Centra Management Associates to the UHY network,” former chairman and current board member Bernard Fay said at the time, Fay having led UHY’s Spanish member Fay & Co. for thirty-five years. “The firm’s membership reinforces our footprint in the Asia-Pacific region and strengthens UHY’s regional market expertise and capabilities to support clients’ needs and opportunities.”