Argentina has a population of 38 million people with a very high European heritage, especially from countries such as Spain, Italy, Germany, Russia and the UK. The native language is Spanish.
It has a first world education system where 6% of GDP is spent on education. There are over 50 universities, including the renowned University of Buenos Aires, a public university. There are over 22,000 economic graduates every year who have completed a very arduous and extensive five year university degree.
However, Argentina has a third world political and economic system, including a major foreign debt problem which results in Argentinean accountants working in an unstable economic environment.
Audits thus tend to result in many adjustments, particularly for the financial statements of banking clients such as Citibank, ABN AMRO, HSBC and Banco Frances. In addition, the accountants have early exposure in running audits and have experience with International auditing standards, USGAAP, IFRS and internal audit.
Therefore, as our Australian clients have discovered, Argentinean accountants are very highly skilled employees. In addition, they are very hard-working and motivated employees, and demonstrate a facility to adapt quickly to the new culture and new work demands. They are also very confident and inquisitive individuals and so enjoy working in a team.