VGD Hungary Audit and HLB Hungary to merge

As of 1 January 2025, VGD Hungary Audit Ltd., one of Hungary’s leading audit advisory firms, is to merge with HLB Hungary Ltd., a Hungarian member of the HLB network sitting 8th in the international rankings, and will thus provide its audit services in the future to clients as one of the top-ranked firms in the Hungarian audit market after the Big4. 

VGD Hungary Audit Ltd. has grown dynamically over the past 20 years and is currently the 5th most successful audit service provider in Hungary in terms of revenue according to the latest Book of Lists (outside the Big4).

HLB is a well-known network service provider on international markets, with more than 46,000 employees in 157 countries, and is currently the 8th largest independent advisory network in the world.

HLB’s mission is to help businesses grow through innovative thinking and a collaborative approach. Regardless of the sector your company operates in, business is about people. Just like with VGD Hungary, HLB believes that customer-focused services and building a relationship of trust with clients is of the utmost importance. HLB prides itself on its strong network of professionals, its technologically innovative solutions and its teams commanding outstanding expertise that support clients on their path to success and with their services, combining local expertise with global capabilities.

“By virtue of this merger we are doubling our strengths and creating a uniquely professional team on the Hungarian services market, which – in addition to the customary high quality of work – will also mean a technological and thus efficiency leap for all our clients. The HLB Group is keen to embrace the benefits of technological progression, and as a member of the group in Hungary we can offer our clients additional, fast and fully customised worldwide solutions in all areas of audit and advisory, whether it is international auditing or advising on transactions overseas.” – said Gyöngyi Ferencz, who will continue her career as managing partner of HLB Hungary after the merger.

In addition to its audit approach and its commitment to the profession bearing the highest quality standards in mind, HLB Hungary’s team of experts with experience in various industries and sectors provides comprehensive audit services based on key risk areas and internal controls. It constantly adopts new technologies, introduces innovative methods, keeps pace with regulatory changes and international standards, whilst maintaining a customer focus based on proximity and human relations.

The shared values and cultures of the two companies also ensure that all VGD employees will continue to work in a secure and engaging workplace, where they can find further development opportunities and future professional success thanks to this great leap forward.

Ethical, social and environmental compliance and demonstrating this properly are both inescapable for international companies today. HLB Hungary will be happy to support its clients in the future with sustainability reporting and ESG audits.

Our professionals aim to create value for clients in every audit engagement, thereby enhancing their credibility and contributing to their success on the international markets too.

“This merger will make HLB Hungary a key player on the Hungarian audit market. We are proud that this agreement will further strengthen the hitherto successful work and achievements of the entire audit team”, added Gyöngyi Ferencz.