Mazars builds North America alliance
12 Jul 2019
Mazars plans to expand its presence in the US and Canada with the creation of the Mazars North America Alliance in a tie-up with five major accounting firms to challenge the Big Four in the region
12 Jul 2019
The alliance agreement is between Mazars and five firms in the US and Canada – BKD, Dixon Hughes Goodman, Moss Adams, Plante Moran (US firms) and MNP (Canadian firm).
Geographically, these five member firms will complement Mazars USA and Mazars Canada, enabling Mazars to achieve full national coverage in North America and giving international clients access to an additional 16,000 professionals from the five accounting and consulting firms.
Mazars USA posted revenues of €184m (£165m) in 2018, while between them the US members of the alliance have fee income of around $1.9bn (£1.5bn), and MNP’s revenues are around CAN$600m (£367m). Mazars Global had fee income of €1.6bn last year.
Hervé Hélias, CEO and chairman of Mazars Group, said: ‘This alliance agreement is a game-changer for Mazars. We are already present in the US and Canada and the alliance significantly strengthens our capability across North America, enabling us to better serve our international clients in the region.’
Mazars now has 40,000 professionals worldwide: 24,000 professionals across 89 countries and territories in Mazars’ integrated partnership, and 16,000 professionals in the US and Canada via Mazars North America Alliance.
Hélias said: ‘In a highly concentrated audit and advisory sector, this alliance provides an alternative. We have a long history of working with these five firms and share the same values of quality, ethics and professionalism.’
‘With Mazars North America Alliance, Mazars strengthens its critical scale to meet the needs of large international companies, at a time when mandatory rotation of audit firms is taking place in Europe and where the debate on the implementation of joint audit is relevant in the UK.’
Mazars UK is a member of the Praxity Alliance.
By Pat Sweet