MERGER ANNOUNCEMENT

MERGER ANNOUNCEMENT

It gives the Board of Directors of Quantum Auditors Incorporated great pleasure to advise that we have recently concluded a merger transaction with Lucro Auditing PLC.

Lucro is a well-established accounting, audit and advisory firm which has been in business for over 20 years. Over this period, they have developed an attractive and successful base of clients, within a wide range of industries. Their clients are respected entrepreneurs with a similar operating style to that of our prestigious clients. The merger is therefore a very good fit, both in size and in organizational culture.

The new combined Audit Practice will continue to operate under the name of Quantum Auditors Inc. The full complement of our Executive Team remains in place at the helm.

Over the past few years, the accounting, auditing and advisory industry has undergone enormous transformation. The levels of required compliance by government and professional bodies has increased the administrative burdens on professional firms. The changing legislative landscape in the fields of company law, tax law and financial reporting standards has made it essential for a modern firm to invest in highly skilled professional staff members to meet these challenges. In addition, the pool of skilled individuals within our industry has shrunk and progressive firms must ensure that they offer existing and future employees a stimulating, professional, diverse and rewarding working environment with long-term career opportunities.

The globalization of clients and the increasing complexity of their businesses and reporting systems has added to the pressure for firms to source and retain highly skilled team members. The days of the sole practitioners and the small accounting and audit firms are limited and eventually, these firms will give way to market forces and will either close or amalgamate with larger players in their market.

The Executive Team at Quantum Auditors Inc. have been aware of these changes for some time and we have been working feverishly to re-invent ourselves constantly to meet the challenges in our market and to ensure that we remain an attractive choice to our clients and our employees.

We continue to invest enormous resources in the growth of our respective organizations and in the appointment, training and retention of a very skilled professional team. In addition, we remain committed to acquire the latest IT-technology and operating systems so that we remain on the cutting edge of innovation, using this to improve our efficiencies and thereby remaining cost-competitive in our market.

Our new positioning within our marketplace means that we can offer better long term career prospects to our employees, as well as greater exposure through a bigger and even more diverse client base. Our larger size will also allow us to access higher budgets for investment in technology and in training and staff development initiatives.
We trust you will join the Executive Team in embracing this significant milestone in our Organizations history and in welcoming the new team members from Lucro into our Organization.

Please note that this is only the beginning of this journey for us. We remain focused on growth, both organically and acquisitively. In the very near future, we will bring you further announcements on expansion initiatives, nationally and internationally. Both these initiatives will create further opportunities for our staff and will continue to move us forward on our progressive road to professional success and longevity

“If you are in comfort zone, you are going backwards”

Should you have any queries please do not hesitate to contact the Partners personally.