Accountancy network UHY adds two new members in Egypt

International accountancy network UHY has followed up its recent extension into Iran with the addition of two full member firms in Egypt.

One of the world’s twenty largest organisations of its kind, international accountancy network UHY has over the course of the past year cracked the 100-country mark, spreading its presence to all corners of the globe – including, among its newest locations, Afghanistan and Iran – on the back of an ambitious recent expansion plan reinforced by UHY International chairman Rick David on his appointment last year.

Now, the network has further expanded its Middle East presence with the addition of two new members in Egypt; Cairo-based United For Auditing, Tax, Advisory & Financial Services and, in Alexandria, Waled Mounir and Muhammad Arafa. “We are delighted to welcome to the UHY network two new member firms in Egypt, equally enthusiastic, entrepreneurial and keen to join their efforts,” said David, a former 30-year veteran of KPMG.  

He continued; “Egypt as a country has seen many welcomed reforms recently to stabilise and strengthen its economic position driven by public investments, private consumption, and exports of goods and services. The firms will strengthen UHY’s regional market expertise and enhance our values and capabilities to serve our international clients who have investments and a business presence in the country and the wider region.”

Established last year and led by experienced former Big Four professionals, with a particularly strong presence from Ernst & Young, Cairo-based United for Auditing, Tax, Advisory & Financial Services has a team of altogether 27 staff serving domestic and international clients (drawn primarily from the banking & financial services, construction, manufacturing, oil & gas and tourism sectors) with their audit, tax, advisory and transaction services requirements.

“Being part of the UHY global network underpins our own values, commitment to deliver quality services and our vision of partnering with our clients to provide agile and practical solutions,” said managing partner Nabil Istanbouli, a former long-term partner with Arthur Andersen. “We look forward to elevating our business through a successful cooperation with other member firms operating within Egypt and the wider UHY network.”

Waled Mounir and Muhammad Arafa meanwhile was established in Alexandria in 2013, providing accounting, tax, insolvency and corporate recovery, corporate finance, and consultancy services to clients operating in particular in the construction, logistics, shipping and transport sectors. “The global presence of the network combined with the expertise and knowledge of UHY’s 8,100 colleagues around the world will also enhance those of our clients and their operations,” said managing partner Waled Mounir.

With the addition of Hadi Hesab Tehran in Iran earlier this year, UHY’s presence extends right across the Middle East, including member firms in Bahrain (UHY El Sayed El Ayouty & Co), Jordan (UHY Arab Auditors), Kuwait (UHY Fawzia Mubarak Al-Hassawi), Lebanon (UHY Andy Bryan), Qatar (UHY Ammo & Co) and Saudi Arabia (UHY Abdul Jabbar Certified Accountants and Consultants Office).