16/12/2003 - 21:00

New firm for former EY pair

16/12/2003 - 21:00

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FORMER Ernst & Young tax partners Dan Fogarty and Ian Crisp have joined forces to establish a specialist tax practice targeting the corporate and resource sectors.

FORMER Ernst & Young tax partners Dan Fogarty and Ian Crisp have joined forces to establish a specialist tax practice targeting the corporate and resource sectors.

Mr Fogarty, who left EY last month, and Mr Crisp, who left in March, will be codirectors of Subiaco-based Corporate Tax Consulting.

They expect to start 2004 with about eight staff, including three senior consultants who are currently working as senior managers or principals in other accounting firms.

Over the next 12 to 18 months they plan to double staff numbers to about 15.

Mr Crisp, who has been running a one-man tax consultancy since leaving EY, said he has been inundated with work.

“I saw an opportunity when I left EY,” Mr Crisp said. “That has certainly come to fruition.”

He said the consultancy would have a highly specialised focus, targeting companies and the resource sector.

It would not provide tax services to individuals or the small business sector.

Mr Fogarty had been with EY for five years, including the last two as a partner, and previously worked with Pricewaterhouse-Coopers.

He is aiming to bring a different approach to the new firm.

“We want to work pro-actively with the investment community and be a solution provider,” Mr Fogarty said.

“Other people tend to be reactive and deal with tax after the event.

“We will be very commercial in our approach to organisations, in managing issues and risks.”

Mr Crisp said the volume of current work opportunities had been bolstered by the large amount of corporate activity.

This included mergers and acquisitions and resource companies restructuring prior to raising foreign capital.

The loss of Mr Fogarty brings to three the number of EY tax partners who have left this year.

Mark Ceglinski left recently to establish a new tax practice in West Perth.

To help boost its resources, EY recently recruited Celia Searle as a tax partner.

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