Ernst & Young

UK-headquartered multinational Ernst & Young has been selected by the Bulgarian National Bank to become its international auditor for 2015-2017, the institution has announced.

On an annual basis, the consolidated financial report of BNB has to be verified by an international auditor chosen through a public procurement procedure.

A Grexit scenario and a return to the national currency, the quaint and feeble drachma of old, would translate into huge losses for the economy and social upheaval that Greece has not witnessed since WWII!

In its latest report, which was presented on Thursday, Ernst & Young foresees a modest growth of the Bulgarian economy for this and next year.

According to the analysts, the good results from the second quarter will not be sustained due to the shrinking internal consumption, daily Dnevnik reports.

BELGRADE - In cooperation with the four largest consulting agencies in the Serbian market, the Serbian Chamber of Commerce (PKS) has established the Business Environment Council, reads a statement issued by the PKS.

By Stathis Kousounis

If a government measure doubling value-added tax is applied in the case of accommodation services, tourism sector losses will range from 415 million to 680 million euros in the first year alone, according to an Ernst & Young study.

Commercial Bank Victoria EAD is opening on Friday, December 12, following nearly half a year of conservatorship.

All sums, and not only those of up to BGN 196 000 (as the case was with Corporate Commercial Bank) will be available for withdrawal.

BELGRADE - Forensic accounting implies comprehensive investigation of criminal activities and integration of knowledge in accounting, auditing and investigation techniques, and deals with monitoring the business reality pertaining to events and environments, said the participants of the first international conference on fighting business fraud and corruption on Thursday.

Commercial Bank Victoria EAD is due to renew transactions and services for customers as of December 12, 2014, Bulgaria's central bank has said.

Victoria, formerly Credit Agricole Bulgaria and a subsidiary of Corporate Commercial Bank (Corpbank or KTB) has been under conservatorship since June, just days after a similar move at KTB following a deposits run.

BELGRADE - Over a half of corporate leaders in Serbia expect their companies to grow in the year to come, shows the Capital Confidence Barometer research conducted by Ernst & Young (EY) consulting house.

The risk of Bulgaria losing EUR 1.6 B in EU funding for agriculture has increased substantially due to the failure of the Agriculture Ministry to select an auditing authority for the payments made in the period October 16, 2013 - October 15, 2014.