Firms in Costa Rica, Panama and Puerto Rico join networks

22 May 2019 2 min. read

Local accounting and advisory firms in three Latin American countries – Costa Rica, Panama and Puerto Rico – have joined international professional services networks. 

In Costa Rica, CGS-CPA & Consultores, based in San José, the capital and largest city of Costa Rica, has joined Morison KSi, an association of 150+ professional service firms active in nearly 90 countries. With revenues of over $1 billion, Morison KSi is one of the 20 largest accounting associations in the world. 

Founded in 2004, CGS-CPA & Consultores provides tax, audit, accounting and advisory services to clients in a range of sectors, including education, real estate and food & drink and consumer goods. In terms of size, the local player ranks among the 30 largest accounting firms in the country. “As our international offering continues to grow and thrive, the opportunity to join this global organisation came at the perfect time for us. We are excited for the opportunities our membership will bring,” said Victor Manuel Garcia Salazar, managing partner of CGS-CPA & Consultores.

In Panama, Cheng y Asociados, a player with a team of 5 partners and 80 employees, has been admitted to the network of HLB. Established in 1969, London headquartered HLB generated revenues of $2.7 billion from activities in 150+ countries last year, making it one of the leading players in the mid-tier accounting landscape globally.

Firms in Costa Rica, Panama and Puerto Rico join networks

Now operating as HLB Cheng y Asociados, the firm provides audit, tax, accounting and consulting services. “We are pleased to join the HLB network,” said John Cheng, the firm’s managing partner. 

For HLB International, the move comes weeks after it added a local firm in Brazil. Sao Paulo based HLB Deals Advisory Assessoria Empresarial (now HLB Deals Advisory) was established in 2015, and provides transaction advisory, tax and corporate finance services.

Meanwhile, in Puerto Rico, San Juan based J&J has associated itself with MGI Worldwide, a network with more than 5,200 independent accountants, auditors, financial advisors and tax experts in over 200 locations worldwide.

Company founders Jonathan Rodriguez and Josué Cabrera – hence the name J&J – have combined more than three decades of experience in accounting, tax, consulting and auditing. Commenting on the affiliation, Rodriguez said: “Every day, more international businesses and investors are considering Puerto Rico as a preferred place for doing business. We want to be part of that global community and we understand that being part of a top-twenty international accounting network, which to the date was not represented in Puerto Rico, will provide that link to help us to be known locally and globally.”