“As our firm started to grow, our clients tended to become larger and more international and the international connections became more important for our clients.”

The first Kreston member firm in mainland China, Nanjing Gongzheng CPA, is admitted.

The first Kreston SEAFA conference took place in Nanjing, China.

Jon Lisby took over from Chris Flint as CEO in late 2005. Clive Stevens, Chairman of Kreston Reeves UK, begin serving as Kreston Chairman, a role which he held until 2012.

“We embarked on a project to set up an audit network within Kreston’s [then] association. When we got to present it to the Kreston board, the response was rather than one service line let’s do it with the whole network. We set out to change from association to network. We hired a quality control director, joined the Forum of Firms, did all the things that we needed to be a network – including allowing and encouraging firms to adopt the Kreston brand.”

A financial crisis triggered by a lack of confidence in bank solvency, and a lack of credit availability, leads economies around the world into recession. Central banks provide trillions of dollars of fiscal stimulus and bailouts. The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act in the US would attempt to deal with many of the issues behind the crisis.

Kreston welcomes Exco France as a member. Exco is a network of 23 independent firms, located throughout France and employing 2,000 professionals and support staff. In addition, Exco’s correspondent members in 11 French-speaking African countries also join Kreston as full members. As well as France and Africa, the network adds additional locations in Poland, West Indies, New Caledonia and Reunion. Kreston also welcomes Exco’s CEO, Franck Parker to the Kreston Board.

With this recruitment, Kreston now has a presence in each of the major countries in Central America during 2008 – Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua.

The co-founder of Kreston in 1971, announces his decision to retire as Managing Partner of Bansbach Schübel Brösztl & Partner GmbH (“BSB”) after a remarkable period of sixty years.

Kreston UK comments on The Future of Financial Reporting in the UK and Republic of Ireland – Kreston UK comments UK Accounting Standards Board’s (ASB) proposals to change the basis of UK GAAP and bring it in line with International Financial Reporting Standards (IFRS). Sue Almond, Kreston’s Director of Quality and Professional Standards says: “The members in Kreston UK agree that change is needed to the overall framework for financial reporting in the UK. We welcome ASB’s proposals and support global convergence to international standards, but we do not feel that the time is right to withdraw the FRSEE – it is fit for purpose, our member firms’ clients like it, and stakeholders such as the tax authorities and lenders appear happy with it. SMEs are critical to the UK economy and should not be burdened by unnecessary change at such a sensitive point of the economic cycle”.

Embracing technology with global reach, Kreston launches an iPhone and iPad app, giving members, clients and contacts mobile easy access to Kreston’s global network.