Sarnowski & Wiśniewski audit firm joins HLB International

Apr 28 2009

After over half a year, HLB International, a leading international network of auditing and advisory firms, is coming back to Poland. A Polish partner of HLB's choice is Sarnowski & Wiśniewski Spółka Audytorska Sp. z o.o., selected officially in March 2009 following a process that stared in August 2008.

- When choosing an audit and consulting firm, you in fact choose people who, in an ideal business model, become partners open to the needs of the other party. That, in combination with many years of local experience and global knowledge, gives the client the comfort of conducting their business safely, said James Frost of HLB International.

As part of its co-operation with the network, HLB Sarnowski & Wiśniewski will gain access to global know-how as well as an opportunity to join international working groups for tax and accounting. The firm also intends to manage global projects involving, for example, assistance to Polish entrants into foreign markets or subsequent support for them. Thanks to its relationship with HLB's global organisation, HLB Sarnowski & Wiśniewski is becoming a natural port of call for foreign investors who, while being HLB International's clients in other counties, are interested in entering the Polish market.

- It is possible for the firm to grow quickly at a time of economic slowdown. We are counting on an over 15% increase in our revenues in 2009. We will continue with our strategy to develop specialities on top of audit, such as transfer pricing, tax consulting and business consulting. We will also put a lot of effort into developing our IT department that designs proprietary tools to support transfer pricing management, financial accounting and controlling. To our two current locations, that is Poznań and Warsaw, we intend to add two more this year, Szczecin and Zielona Góra. Support from our international partner will certainly make this easier for us, said Dariusz Sarnowski, President of HLB Sarnowski & Wiśniewski's Management Board.

Sarnowski & Wiśniewski has been present in the professional services market for 5 years. The firm employs or has permanent relationships with over 60 experts. The core team consists of 9 certified auditors as well as tax advisors, investment advisors and legal counsels. A substantial number of the firm's staff are now acquiring their full professional qualifications. Ever since its beginnings, the firm has been recording impressive revenue growth, with 2008 revenues up by about 50% on 2007 and nearly doubling those in 2006. In 2008, Sarnowski & Wiśniewski generated over PLN 8 million in revenue, including over one-third out of audit engagements, and has issued in excess of 180 audit opinions. Thanks to its 2007 results, the firm ranked 28th in the general ranking of Polish audit firms published by Rzeczpospolita daily, and was 16th in terms of revenue (out of a total of 60 ranked entities).

Since March, HLB's network in Poland includes, in addition to HLB Sarnowski & Wiśniewski, M2 Audyt of Bydgoszcz and Zespół Doradców Podatkowych Jacek Czernecki of Kraków.