Deloitte Announces Opening of Deloitte Onch LLC - A New Member Firm in Mongolia, One of the World's Fastest-growing Economies

Mongolian office will extend expertise and client engagement in key growth areas such as energy and natural resources

NEW YORK, Jan. 30, 2012 /CNW/ - Deloitte Touche Tohmatsu Limited (DTTL) announced today it has established a new member firm in Mongolia after reaching an agreement with leading local Mongolian professional services firm, Onch Audit. The new firm, Deloitte Onch LLC, will offer a full range of professional services, including audit, tax, consulting, and financial advisory to clients in one of the world's fastest growing economies.

Mongolia is a fast-growing market in the Asia Pacific region, with its significant natural resources and growing number of domestic enterprises requiring top-quality professional services. Deloitte Onch LLC is poised to leverage the increased opportunities in the region, particularly in the energy and resources sector. For example, the Deloitte Global Mining Industry team, an established network of experienced Deloitte member firm professionals in every country that has significant mining activity, will add great value to its services to mining clients operating in Mongolia.

"In addition to adding a new firm to our vast global network, we are delighted to be expanding in what is fast becoming a critical market for the Asia Pacific region and the global economy as a whole," said Barry Salzberg, Global CEO, DTTL. "By combining the deep local knowledge of Onch Audit with specialist expertise from Deloitte member firms, the network is well-positioned to help new and existing clients in Mongolia become leaders in their market or advance their existing market leadership."

The agreement will connect the newly formed Deloitte Onch LLC with support from a globally connected network of professionals in more than 150 countries. The new member firm will continue to be led by founder Onchinsuren (Onch) Dendevsambuu, a former senior auditor at Arthur Andersen and Ernst & Young in Ulaanbaatar and Moscow. Onchinsuren has 15 years of experience in audit, tax, and advisory, serving both multi-national companies and local clients.

"This is a very exciting time for the new Deloitte member firm in Mongolia," said Onchinsuren. "We are proud to be joining a network so respected for its world-class service, innovation, and ethics. With the support of a global network of member firm specialists, I am confident that Deloitte member firms can continue to exceed clients' expectations."

Onch Audit LLC (Onch Audit) was founded in January 2004 and has since become a leading firm in the region. The Deloitte Onch LLC office currently employs a staff of 50 with plans to recruit an additional 15 over the coming months.

"We are delighted to have such dedicated professionals join Deloitte member firms in the Asia Pacific region," said Chaly Mah, Regional Managing Director, DTTL Asia Pacific. "I look forward to working closely with Onch and her colleagues to develop business in Ulaanbaatar, delivering exemplary services to existing clients, and furthering Deloitte member firms' local and international client base in the region."

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Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte's approximately 182,000 professionals are committed to becoming the standard of excellence.

SOURCE Deloitte Touche Tohmatsu Limited

CONTACT: Lauren Mistretta, Global Communications, Deloitte Touche Tohmatsu Limited, Tel: [phone], Mobile: [phone], [email protected]; Katie Burton, Communications, Asia Pacific, Deloitte Touche Tohmatsu Limited, Tel: [phone], Mobile: [phone], [email protected]

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