RSM, the sixth largest network of independent audit, tax and consulting firms, has added new member firms in Bulgaria and Costa Rica, expanding its footprint across Europe and Central America. These new firms bring RSM’s global representation to more than 120 countries.

Jean Stephens, Chief Executive Officer, RSM International, comments:

“Both member firms bring local expertise to RSM and we are excited to embed our brand in these two growing economies. At RSM, our firms are passionate about delivering seamless cross-border client services to an extremely high level. With the addition of member firms in Costa Rica and Bulgaria, we look forward to providing more opportunities to help our clients achieve growth in these markets.”

Previously known as Balance-M Limited, RSM BG is situated in the Bulgarian capital city and primary economic centre, Sofia. Led by Mariana Mihaylova, who has 25 years experience, Balance-M celebrated 20 years in the audit market in 2017.

The Bulgarian economy has seen substantial growth in recent years, reaching a GDP – per capita of over US$152bn. The new RSM member firm has experience working with clients in some of the country’s more established industry sectors, including energy, pensions and insurance. Specialising in audit and assurance services, the firm will work collaboratively with nearby member firms in Macedonia and Serbia to provide cross-border solutions for clients. 

Dr. Mariana Mihaylova, CPA, AFII (Appraiser of Financial Institutions and Instruments), Managing Partner, RSM BG, said:

“The financial crisis and subsequent political unrest had a long-term impact on the business environment in Bulgaria. We have now turned a corner and are demonstrating significant growth across key industry sectors. We believe it is the ideal time for us to join the RSM network and are looking forward to leveraging the strength of the global brand to deliver additional services to our existing clients. We are excited to collaborate with our neighbouring firms to drive additional growth of the RSM brand across the region.”

Meanwhile, firms ‘Fernandez Zeledon & Asociados’, ‘Gutierrez Marin & Asociados’ and ‘Link2Capital’ have combined to form RSM Costa Rica. Located in the Costa Rican capital, San José, the new member firm will provide an important link to other member firms across the Americas. As a combined entity, the new firm will provide a full range of traditional accountancy services while also offering strong services in international tax and transaction support.

Thomas Alvarado, Managing Partner, RSM Costa Rica, commented:

“The strength of our economy, combined with the reputation of the RSM brand and our ability to collaborate with member firms all over the world, gives us the chance to enhance and grow our client services considerably. We hope, in turn, we can add value to the network and continue to drive RSM’s presence both in our region and on a global scale.”

The two new member firms in Bulgaria and Costa Rica are a continuation of RSM’s global growth strategy following the recent admission in December 2017 of RSM Canada.