Baker Tilly adds South Korean firm Woori to its global member network

28 May 2019 Consultancy.asia

South Korean full service audit firm Woori Accounting Corporation has joined the Baker Tilly network, adding over 50 partners and 200 professionals.

The Baker Tilly International network of accounting and consulting firms has admitted South Korea’s Woori Accounting Corporation as a new member – to be rebranded as Baker Tilly Woori effective from the 13th of this month. A top ten firm in its market, the admission of Woori brings more than 50 partners and 200 industry professionals into the Baker Tilly International fold.

Formerly a member of accounting association DFK International, Woori was established in 1997 with a focus on providing small to mid-sized businesses (especially venture businesses and foreign invested small companies) with high-quality and cost-effective services in audit, tax, and financial advisory.  “We are delighted to welcome Woori Accounting Corporation,” said Baker Tilly.

Ted Verkade, who as CEO leads the Baker Tilly network, the tenth largest such network worldwide with revenues last year topping $3.6 billion and Asia Pacific growth in the range of 11 percent, added; “A firm that is committed to growth and extending its client services footprint, Woori gives us an exciting opportunity to build our brand in what is an important economy.”Baker Tilly adds South Korean firm Woori to its global member network“As new audit regulations are introduced in Korea for listed and large listed entities, we are excited at the possibilities to make a positive difference to clients and working together to help them unlock their potential for growth, “Verkade continued. “The appointment of a firm of this stature, size and depth, is the most recent example of our commitment to addressing the demands of today’s global business landscape by positioning ourselves at the forefront of change.”

The admission of Woori comes during a period of activity in South Korea’s audit, tax and accounting advisory landscape, with leading local law firm Yulchon last month joining global tax specialists Taxand – adding more than 400 lawyers and 80 tax advisors – and mid-tier accounting network HLB International earlier admitting South Korea's 12th largest professional services firm Shinwoo.

Baker Tilly has itself been busy of late, unveiling a fresh branding at the end of last year in an effort to better unify and strengthen the network’s representation among its global member firms, which amount to some 126 firms with a combined headcount of 35,000-plus professionals working from 746 offices in 145 countries worldwide – including more than 20 countries across the Asia Pacific.

“Together, the member firms are a global brand, and one which is growing quickly,” Verkade recently told Consultancy.eu. “We use a tagline that underlines the positioning of our network: Now, for tomorrow. It means that we look ahead and do the things that make us, our people and our customers successful. We also want to contribute to the future of the accounting profession and of society as a whole. That is what we stand for.”

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