View the collection of Deloitte in Hungary press releases.
| Changing Reporting Standards |
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25 September 2008 |
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Budapest, 25 September 2008 – It may result in the reduction of the operating costs of companies listed in a US stock exchange and create better competitive conditions if the SEC (the US Securities and Exchange Commission) indeed prescribes the application of International Financial Reporting Standards for US listed companies. This change may bring advantages to the life of companies, however, it also poses several new challenges mainly to global companies. US listed companies are currently required to prepare their financial statements pursuant to US GAAP, the generally accepted accounting principles in the US which,... |
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| Overwhelming performance - with questionmarks |
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15 September 2008 |
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Budapest, 15 September 2008 – Central Europe will maintain its impressive five per cent growth rates, which far outpace western Europe’s economic performance only if it completes free market reforms, warns the CE Top 500, 2007, a new Deloitte authored, ranking and report on the region’s 500 largest companies. The Deloitte Central Europe Top 500 charts companies’ progress in a region, which stretches from the Adriatic to the Baltic and the Black Sea and contains a raft of countries, all of which have either already joined the European Union or are at various stages of the EU accession process.
The Deloitte... |
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| New Manager in Deloitte's Audit Function |
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08 September 2008 |
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Budapest, 8 September 2008 – Deloitte Hungary's audit function has recently taken a new manager on board. After a few years' pause, Sándor János has returned to the firm's audit function to continue his career as a manager. Sándor János has wide experience in auditing. He started his career at the Tatabánya Mining Company as an accountant and then joined Deloitte in 1994. During his first six years with Deloitte he obtained his registered auditor certificate and his brokerage exam. Owing to his hard work as an auditor he became a manager of the audit function.
In recent years he worked and met professional... |
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| Several aspects of the tax treatment of lease transactions in the new VAT system have been clarified |
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04 September 2008 |
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Budapest, 4 September 2008 - The gap-filling guidelines recently issued by the Ministry of Finance and Tax and Financial Control Administration on the VAT treatment of lease transactions contain a clear position regarding several issues that were ambiguous under the new VAT Act. While in addition to rules pertaining to lease transactions, several conclusions may be drawn on the general interpretation of the amended regulation, the guidelines fail to elaborate on certain important taxation issues. – Deloitte notes. Such neglected issues are the tax implications of the termination or transfer of lease contracts - in these areas a new... |
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| New director leading Deloitte's Management Consulting division |
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03 September 2008 |
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Budapest, 3 September 2008 - Recently another recognised expert joined the team of Deloitte Co. Ltd.'s Management Consulting division. Péter Gruhala has been responsible for managing the business line as a new director since July. Péter Gruhala has over twenty years of industry and leadership experience, during which time he was involved in a number of successful large Hungarian and international projects. At Deloitte, his key responsibilities include the continuous development of the Hungarian strategy of the Management Consulting division and the introduction of new services. 44-year-old Péter Gruhala is a... |
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| The key to growing corporate value is motivation based on the appropriate factors |
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01 September 2008 |
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Budapest, 1 September 2008 'The touchstone of a good corporate incentive system is if great significance is attributed to value growth among the development objectives of the company. In order to achieve this, first of all the key success factors need to be identified based on which compliance with the expectations of shareholders can most efficiently be measured and, naturally, it is also advisable to attach the incentives of management's performance to the same factors' said Deloitte's financial advisory expert. Domonkos Kovács, the Director of Deloitte's Valuation & Modelling business line commented: This can become... |
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| Démétér Award for the best - for the first time this year |
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21 August 2008 |
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Budapest, 21 August 2008 - This is the first year that the Démétér Awards, established with Deloitte's support, will be awarded. The award has been established by the Démétér Foundation in acknowledgement of the everyday work of devoted hospital teams, doctors and qualified nurses committed to the healing of children suffering from life endangering cancer diseases. Tóbiás Tímea, an associate of the Démétér Foundation told us: "The Démétér Foundation was established by some enthusiastic individuals and the team of the Bone Marrow Transplantation Department at Szent László Hospital in Budapest in 2005. The activities of... |
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| Deloitte achieves 6th year of double-digit revenue growth |
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30 July 2008 |
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Budapest, Tuesday, 22 July, 2008– Deloitte Touche Tohmatsu (“Deloitte”) today announced that fiscal year 2008 aggregate member firm revenue increased by 18.6 percent in U.S. dollars, and 13.0 percent in local currencies, to US$27.4 billion. This marks Deloitte’s sixth consecutive year of U.S. dollar double-digit revenue growth from continuing operations. Every service line and every geographic region delivered strong growth. Deloitte aggregate revenues were US$23.1 billion in FY2007. Deloitte Hungary also achieved double digit growth in the past business year. When announcing the results,... |
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| 10 most typical pitfalls of EU tenders in the SME sector |
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22 July 2008 |
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Budapest, 22 July 2008 – Small and medium-sized businesses, often in need of capital, are not losing their enthusiasm for applications, which is explained by the fact that in the period up to 2013, players of the SME sector may receive aid in an estimated value of HUF 1,200-1,300 billion from various EU (co)financing programmes. Several enterprises have already assessed application possibilities and are currently in the project planning phase. However, for successful and sustainable projects companies should be familiar with the pitfalls of the application system, since there is a heavy price to pay for errors deriving from... |
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| A costly and risky choice in the bank industry |
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18 July 2008 |
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Budapest, 18 July 2008 – Even though experts often compare the complexity of the process to an open heart operation or an engine change in a speeding car, an increasing number of large banks in the world decides not to postpone the replacement of the core system any longer. In relation to the change market players expect increased capacity, lower costs and first of all a more flexible provision of new banking services. Attila Szendrey, senior manager of Deloitte's Enterprise Risk Services business line explained: Due to outstanding one-off costs, many banks around the world have avoided replacing their core IT... |
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