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Merger Announcement

It gives the Boards of Directors of TGS South Africa Inc and of 1.2.3.Consulting (Pty) Ltd great pleasure to announce that we have recently concluded a merger with Galbraith Rushby.

Galbraith Rushby was originally founded by Jeneen Galbraith and Michael Rushby and over the past 18 years, the Firm has become a well-established and highly acclaimed accounting, audit and advisory firm. Over this period, they have developed an attractive and successful base of clients, within a wide range of industries. Their clients are respected entrepreneurs with a similar operating style to that of our prestigious clients. The merger is therefore a very good fit, both in size and in organizational culture.

The new combined Audit Practice will continue to operate under the name of TGS South Africa Inc and the new combined Consulting Practice will continue to operate under the name of 1.2.3. Consulting (Pty) Ltd. The full complement of our Executive Teams remains in place at the helm of the merged Firms.

We will consolidate our existing Tokai office into Galbraith Rushby’s existing Woodstock office. Our presence in the Western Cape will now include 3 offices, namely Woodstock, Tyger Valley and Somerset West. Our head office remains in Johannesburg, Gauteng.

Over the past few years, the accounting, auditing and advisory industry has undergone a significant transformation. The levels of required compliance by government and professional bodies have increased the administrative burdens on professional Firms. The changing legislative landscape in the fields of audit, company law, tax law and financial reporting standards has made it essential for modern firms to invest in highly skilled, professional staff members to meet these challenges.

The globalisation of clients and the increasing complexity of their businesses and reporting systems have added to the pressure for firms to source and retain highly skilled team members. The days of the sole practitioners and the small accounting and audit firms are limited and eventually, these firms will give way to market forces and will either close or amalgamate with larger players in their market.

The Executive Teams at TGS South Africa Inc and 1.2.3. Consulting have been aware of these changes for some time and we are focused on being fluid and current to constantly meet the challenges in our market and to ensure that we remain relevant to our clients.

We continue to invest enormous resources in the appointment and retention of a very skilled professional team. Our team members are specialists in their fields and bring the highest levels of competence and added value to our clients’ boardroom tables. In addition, we remain early adopters of the latest technology and operating systems so that we stay abreast of cutting-edge innovation, using this to improve our efficiencies and processes.

The merger of Galbraith Rushby with our Organizations has elevated us into the upper range of mid-tier firms in South Africa. Jointly, TGS South Africa Inc and 1.2.3. Consulting will now employ over 180 highly skilled professionals, all of which are focused on one thing – Giving our respective clients the very best levels of professional advice and service at the most optimal cost. In addition, our membership of TGS Global adds a presence in 55 countries across all 5 continents and gives our valued clients access to a further 4 300 professionals throughout the globe.

We trust you will welcome this significant milestone in our Organisations’ histories and our long-standing relationships with our prestigious clients.

Please do not hesitate to contact us should you have any questions.

This article is a general information sheet and should not be used or relied upon as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice. Errors and omissions excepted (E&OE)

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