Gold Magazine December 2013 - January 2014, Issue 33

up front PwC US gains ‘Vanguard’ status P wC US has been recognized as a Vanguard firm in Kennedy Consulting Research & Advisory’s Forensics & Dispute Advisory report. The report assesses and evaluates service providers in the Forensics & Dispute market in two areas: forensic investigations and dispute advisory & analysis. PwC was one of a few firms that achieved “Vanguard” status in both areas. According to the report, PwC’s clients identify the firm as a global leader and best-in-class in dispute advisory & analysis. Additionally, PwC has “taken steps to maintain [its] edge in the [dispute advisory & analysis] space” and has achieved “Vanguard status by virtue of a rare combination of outstanding depth in specific investigatory areas despite moderate breadth.” “We understand the significant risks organisations face every day. Whether the forensic challenges are local or cross-border, our experienced team around the world provides organisations with seasoned support and solutions,” said Christos Tsolakis, Forensics Partner at PwC. “This Vanguard achievement is a testament to our ability to help clients with their most complex and urgent situations.” Double Win for Drambuie D rambuie recently celebrated a double award win at the Spirit Business Liqueur Masters 2013. Drambuie 15 was awarded the top accolade of Master while Drambuie received Gold. Tim Dewey, Global Marketing Director at Drambuie, said: “We are thrilled to be recognised for not one, but two of our products by one of the industry’s most respected awards, with the wins highlighting Drambuie’s ongoing objective to provide a superior liquid to consumers.” The highly prestigious Spirit Masters series, now in its sixth year, is fast becoming one of the most respected and high profile trade competitions in the industry, rewarding the finest brands on excellence. Drawing entries from around the world, each spirit is judged on its own merit by a panel of independent judges. For the past 15 years, LaikoCosmos Trading Ltd has been the exclusive distributor of Drambuie in Cyprus. Drambuie is a blend of the finest aged Scotch whisky, spices, and heather honey. The recipe was created more than 260 years ago exclusively for Prince Charles Edward Stuart of Scotland. I New Accountants I CAEW President Martyn Jones and ICPAC Vice President Nicos Chimarides congratulated 150 successful new Associate Chartered Accountants and seven global prizewinners at a graduation and prizegiving ceremony at the Hilton Park Hotel in Nicosia last month. The ceremony celebrated all the successful candidates who have qualified as ICAEW Chartered Accountants in 2012-2013, gaining the prestigious and internationallyrecognised ACA qualification. The last year has seen spectacular success from students in Cyprus, who won four of the top five prizes in the Professional Stage Exams in December 2012. This year also has also seen the 20th anniversary of ACA training being offered in Cyprus, highlighting the long relationship that the international accountancy body has with Cyprus. CORRECTION There were a number of errors in last month’s cover story which we wish to correct. Regarding Antonis Paschalides & Co LLC. Alexia Melanie Paschalidou is an expert both in Banking Litigation as well as in Litigation & Arbitration. Charalambos Carlos Paschalides is an expert in Corporate & M&A and Tax & International Tax Planning. Antonis Paschalides is an expert in Banking & Finance, General Business Law and he specialises also in Energy Law. The firm is a candidate for the award Energy Law Firm of the Year in Cyprus (Corporate INTL Magazine 2014 Global Awards). Regarding Kinanis LLC, Despo Andreou and Soula Kyprianou no longer work for the firm. Additionally, we wish to note that Chris Yiangou works for George Y. Yiangou LLC and that Stavros Pavlou is the Senior & Managing Partner of Patrikios Pavlou & Associates LLC. Apologies to all those concerned for any inconvenience that incorrect or outdated information may have caused. 8 Gold the international investment, finance & professional services magazine of cyprus Record Art Auction Prices nvestment in Art continues to thrive, with the value of works seemingly unaffected by the turmoil experienced by other commodities. Rival auction houses Christies and Sotheby’s both produced staggering sums at their November auctions of Post-war and Contemporary art, shattering previous record prices for both individual works and total sales in art auctions. Christie’s two-day auction series achieved a grand total of $782,368,375 setting a new record high for any auction series. Francis Bacon’s Triptych Three Studies of Lucian Freud sold for $142.4 million, becoming the most valuable work of art ever sold at auction while Jeff Koons’ Balloon Dog went under the hammer for $58.4 million, becoming the most valuable work sold at auction by a living artist. The Sotheby’s Contemporary Art auction enjoyed similar success, with works such as Andy Warhol’s Silver Car Crash (Double Disaster) selling for $71.7 million and Liz #1 (Early Colored Liz) for $20.32 million, among others.

Gold Magazine December 2013 - January 2014, Issue 33 | Page 8