Change of our status within RSM network
07 July 2014
Member firms of RSM network agree to meet a number of high standards set by the International Board of Directors of RSM International. These standards relate to the quality and range of their services, as well as to other issues such as their size, location and branding. Member firms agree to apply global policies on quality assurance, auditing, ethics & independence and inspections, in compliance with applicable international standards. Once all the criteria are met a member firm is in a position to use the trademark “RSM”. New member firms are time-bound to implement requirements set by RSM International.
Having been a member firm of RSM network for a year, we came to realise that we lack resources and proper commercial rationale to fulfil all audit practice related requirements within the required time limit. To this end it was agreed between Merhels and RSM International that change of our status from a member firm to a correspondent firm for the time being will be the best solution for both parties. We consider this arrangement as temporary solution until we have sufficient resources to go for full membership. The change of our status within RSM network will have no effect on our stakeholders and operating practices.