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Polson Higgs Audit Partner joins BDO Christchurch

Media Release

May 8 2012

BDO Christchurch and Polson Higgs today announced Polson Higgs audit partner Michael Rondel and his Christchurch-based audit team are to join BDO Christchurch.

Mr Rondel has been appointed partner at BDO Christchurch, part of the international BDO network, the world’s 5th largest international advisory, audit and tax firm.

BDO and Polson Higgs Christchurch also confirmed today they are in ongoing discussions about increased co-operation, collaboration or amalgamation between the two accountancy firms.

Warren Johnstone, Managing Partner of BDO Christchurch, said: “Michael Rondel’s move, and the ongoing discussions with Polson Higgs Christchurch, clearly demonstrates our strong commitment to our clients in Christchurch and the South Island.

“It reflects our commitment to deliver a service of the highest professional standard and capability and our desire to position BDO to provide a complete range of advisory, audit and tax services to existing and new clients as the Canterbury earthquake recovery gathers momentum.”

Mr Johnstone added: “Furthermore, under new Financial Markets Authority regulations, having two full time audit partners supported by an associate and now a team of 15 auditors, further strengthens the firm’s Christchurch offering to audit clients.

“I know Mike is looking forward to using the BDO worldwide risk-focused audit methodology. This will enable us to help our audit clients through the new regulatory environment. It will assist us in providing a more in-depth auditing and risk based audit service right across the Upper South Island.

“I also want to take this opportunity to reassure Polson Higgs Christchurch’s existing audit clients that there will be an orderly transition to BDO Christchurch for those wanting a continuity of audit service.”

Frank Burgess, of Polson Higgs Christchurch, said the transfer of the audit team to BDO Christchurch satisfies Polson Higgs’ objectives of meeting the needs of audit clients under the new regulations.

“Given its resources and size, BDO is able to better handle appropriate audit methodologies. The Christchurch Polson Higgs Partners are excited about the potential of joining BDO Christchurch, particularly as our two firms are complementary.

“A merger or closer working relationship would be beneficial to our clients and staff as we continue to face the challenges of a post earthquake Christchurch.

“It’s business as usual for Polson Higgs in Dunedin. While the Christchurch firm of BDO expects to work more closely with the Polson Higgs team in Dunedin, that firm will remain an independent firm outside of the BDO Network of Independent Member Firms,” said Mr Burgess.



FOR FURTHER INFORMATION, PLEASE CONTACT:

Warren Johnstone (BDO Christchurch) 021-228-4327
Frank Burgess (Polson Higgs Christchurch) 027-492-3620