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Auditing and Accounting

- March 18, 2024 -

Medium-sized audits and public interest companies: it is necessary to promote competition in this segment, which should be developed, including quality criteria rather than size.

Alfredo Ciriaco, audit partner at PKF Attest, analyzes for Cinco Días what it would mean if EIPs decidedly bet on smaller audit firms and what this would mean for the sector.

Complete article

https://cincodias.elpais.com/legal/2024-03-15/las-auditorias-medianas-y-las-empresas-de-interes-publico.html

- December 22, 2023 -

Codere, a multinational company dedicated to the gaming and sports betting sector, has selected PKF Attest as the company's new auditor for fiscal years 2023, 2024 and 2025, according to industry sources consulted by EXPANSIÓN.

Codere replaces EY, which has been the company's auditor since 2016, for seven consecutive fiscal years. The professional services firm informed Codere in late October of its decision not to stand for re-election as independent auditor. In its last audit report, EY noted that there were "significant doubts about the group's ability to continue as a going concern."

Results
The betting company ended last year with a loss of €320.2 million, €19 million less than the results recorded in 2021, and a turnover of €1,314.8 million for the year, 67.5% more than in 2021 thanks to the end of the pandemic restrictions in the halls and, especially, to the recovery in Argentina and Italy.

In its latest results for the third quarter of the year, Codere reported a loss of 46 million euros and revenues of 301 million euros, both figures lower than those recorded in the same period of the previous year. Codere, headquartered in Spain, is present in seven countries in Europe (Spain and Italy) and Latin America (Argentina, Uruguay, Mexico, Colombia and Panama).

At the end of last year, the company had a total of 46,409 gaming machines installed, as well as 143 arcades, 1,039 arcades, 174 sports betting premises and 8,108 bars.

A couple of months ago, the company closed a 50 million euro bridge loan to secure its liquidity while negotiating a shareholder agreement.

Source: Expansion

- December 19, 2023 -

Emilio Alvarez Pérez-Bedía, president of the Registry of Economists Auditors of the General Council of Economists and Francisco José Gracia Herreiz Dean of the COLLEGE OF ECONOMISTS OF ARAGON and partner of PKF Attest inaugurated this first meeting in the Xplora space in Zaragoza.

A networking day in which the participants were able to establish relationships and look for meeting points for the best quality and profitability of their firms and in which the sector and the growth and development model of the audit business were analyzed.

- October 6, 2023 -

PKF Attest has just closed the incorporation of Sandra Solís as audit partner in its Barcelona office. With this incorporation, the firm is committed to strengthen its audit and assurance services in Catalonia.

Sandra Solís is a chartered accountant and has more than 25 years of experience in auditing. In recent years she has been a partner at Auditing, a firm with more than 30 years of experience in the field of auditing and legal and tax consultancy. Solís joins PKF Attest with her entire team of about ten people.

With the incorporation of the Auditing team, PKF Attest continues its commitment in Catalonia where it offers a wide range of services oriented to companies.

Appearance in the media: Expansion

- May 25, 2023 -

Manuel Mendiola, technology risk partner, analyzes in this column for Cinco Días the keys to this new regulation and what companies must do to adapt in a timely manner.

"The objective of this regulation is to ensure the digital operational resilience of the European financial sector in the face of disruptions and threats related to information and communications technologies. In other words, it seeks to enable these entities to recover and continue to operate in the face of disruptive technology-related incidents."

Source: Cinco Días

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PKF Attest is a member of PKF Global, the network of member firms of PKF International Limited, each of which is a separate and independent legal entity and accepts no responsibility or liability for the actions or inactions of any individual member or correspondent firm(s). "PKF" and the PKF logo are registered trademarks used by PKF International Limited and member firms of the PKF Global network. They may not be used by anyone other than a duly authorized member firm of the Network.

PKF Attest is a member of PKF Global, the network of member firms of PKF International Limited, each of which is a separate and independent legal entity and does not accept any responsibility or liability for the actions or inactions of any individual member or correspondent firm(s). "PKF" and the PKF logo are registered trademarks used by PKF International Limited and member firms of the PKF Global Network. They may not be used by anyone other than a duly licensed member firm of the Network.

Photo by Javier Jordán

Javier Jordan

Javier is an experienced banker and financial advisor with over 20 years of experience in banking and financial advisory services covering capital markets, project and structured finance, syndicated loans origination and distribution.

Prior to joining PKF Attest CM, he worked at Banco Santander and prior to that at Banesto were he was Head of Structured Financing for the Basque Country region, responsible for origination, risk analysis, debt structuring and syndication of a wide range of financing products: corporate finance, project finance, LBO and debt restructuring.

Before Joining Banesto, Javier worked at Accenture and Management Solutions where he was senior consultant in different international projects covering banking and insurance sectors.

Javier holds BA Hons in Economics and Business Administration from Deusto University

Photo by Jokin

Jokin Cantera

Jokin has over 25 years of commercial and investment banking experience, with most of his career developed at Banco Santander, Banesto and JP Morgan Chase.

Prior to PKF Attest CM, Jokin worked at Santander Global Banking & Markets division (SGBM) in London, where he was Head of Northern European Institutional Sales, covering credit markets, rates and FX distribution of flow and non-flow products.

Before joining Banco Santander, Jokin was deputy general manager of the wholesale banking division at Banesto, responsible for credit markets (origination, trading and distribution), ACPM, securitization, rates and structured products distribution. He was also head of institutional sales, responsible for the structuring, origination and distribution of credit, rates, FX and multi-asset products to institutional investors.

With a strong innovative mindset and an entrepreneurial approach, Jokin was co-responsible for the creation of the Banesto Funding Platform, a unique primary bond market platform that helped corporates access the capital markets recurrently and efficiently through primary MTNs and CP issuance. He was also a board member of Banesto Financial Products PLC.

Jokin holds a BA Hons degree in Economics and Business Administration from Deusto University and has attended IESE, Chicago GSB & IE management programmes in Madrid and London.

Photo by Wafi Saleh

Wafi Saleh

Wafi has over 20 years of corporate and investment banking experience, with most of his career developed at Banco Santander and Banesto.

Prior to joining PKF Attest CM, he occupied various positions at Santander Global Banking & Markets division (SGBM), where he was Head of Middle East Corporates, Head of the Global Funding Platform, Head of the MTN Desk at the European Bond Syndicate, responsible for Private Placements origination covering European: Corporates, FIG, & SSA issuers.

Before joining Banco Santander, Wafi worked at Banesto, where he was Head of DCM, Bond Syndicate and the Funding Platform. He has extensive experience in bond issuance and has set up and managed the SPV, the EMTN and ECP programmes for the bank and corporate clients, issuing vanillas and structured notes. He was a board member of Banesto Financial Products PLC and Santander International Products PLC.

Wafi has an outstanding fingerprint in the capital markets and is co-responsible for the creation and management of the Banesto Funding Platform, a unique primary bond market platform that helped corporates access capital markets recurrently and efficiently through primary MTNs and CP issuance.

Wafi holds a BA Hons degree in International Business and Management studies from the European Business School, London, and has attended IESE management development program in Madrid.

Report: IFRS Adoption Process

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