This is to provide financial audit services for the European Commission in respect of research grants under the Seventh Framework Programme for research, technological development and demonstration activities (FP7). These are principally provided to universities, higher education establishments, companies, not for profit organisations, quasi-government bodies and SMEs.
The firm expects to carry out 500 – 600 audits per annum throughout Europe between now and 2017, with around 60% of these taking place in more than 30 countries outside of the UK, France and Germany. Many of the other firms involved are members of the same global network, Russell Bedford International, (of which Lubbock Fine was one of the founding firms) and therefore this new contract will have a major impact.
Lubbock Fine’s role as the lead firm is that of audit coordinator as well as conducting the UK audits. The team, led by partners Laurence Newman and Rohit Majithia has, since the late 1990s, operated as a dedicated EC team and therefore has extensive expertise in this highly specialised arena.
The firm has recruited at all levels, boosting the team to around 20 people. Its European colleagues have also geared up in anticipation of the significant increase in the volume of work.
Laurence Newman says: “Our success has been achieved amidst very strong competition from the large, international audit firms. It is a singularly impressive achievement and testament to the expertise and quality of services provided to the EC over the course of our lengthy relationship with them – which began back in the early 1990s.”
Notes to Editors
About Lubbock Fine: Established in 1929, Lubbock Fine provides a full range of services on all aspects of accountancy and audit, UK and international taxation, financial management and administration, company secretarial and management consultancy. It currently has 14 partners and some 90 staff.
Lubbock Fine is a founder member of Russell Bedford International (RBI), a network of accountancy firms which extends to over 280 offices in more than 90 countries worldwide.
Lubbock Fine Chartered Accountants
Russell Bedford House
250 City Road, London EC1V 2QQ
T: 020 7490 7766
From 6 May we will be at:
Paternoster House, 65 St Paul’s Churchyard, London EC4M 8AB
44 20 7490 7766
44 20 7490 7766