Mazars

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Mazars
Société cooperative à responsabilité limitée, based in Belgium
Industry Professional services
Founded Rouen, France (1940)
Headquarters Paris, Flag of France.svg France
Key people
Philippe Castagnac, Group Chairman & CEO
Services Audit
Chartered Accountant
Consulting
Taxation
Corporate Finance
Financial advisory
Legal
Revenue Increase€1.081 billion euro (2014)
Number of employees
14,010 (2014)
Website www.mazars.com

Mazars is a global audit, accounting and consulting group employing more than 14,000 professionals in 73 countries through member firms.[1] With head offices in France, Mazars is the 11th largest accounting firm in the world.[2] Mazars has a network of correspondent partners and joint ventures in a further 21 countries and is a founding member of the Praxity alliance, a network of independent firms.

Worldwide turnover for the integrated partnership for the fiscal year ending August 2014 was 1.081 billion euro.[3] Mazars is ranked as the fifth largest accountancy firm in Europe.[citation needed] Mazars operates as a single entity as a fully integrated partnership. Mazars publicizes its consolidated financial accounts, a move it claims is unusual for private audit and advisory firms.[4]

History[edit]

The original Mazars firm was formed in Rouen, Normandy in France in 1940, by Robert Mazars. Mazars stayed a local firm until the 1980s when former CEO Patrick de Cambourg started to internationalize the firm growing the business from 33 employees in 1977 to the global firm of today.

France[edit]

Mazars merged with accounting firm "Guérard Viala" to form "Mazars & Guérard" in 1965.

United Kingdom[edit]

On 1 September 1998 "Mazars & Guerard" merged with the British accountancy firm "Neville Russell" and traded, in the UK, for a number of years as "Mazars Neville Russell". In 2002, "Mazars Neville Russell", as well as its counterpart firms across Europe, changed the name to become simply Mazars. Mazars currently employs 1,000 people in 18 offices[5] in the UK and turnover is around €100m.[6]

In April 2007 Mazars merged with the London office of MRI Moores Rowland which will create a firm with turnover in the UK exceeding £90million.[7]

Mazars, prior to the MRI Moores Rowland merger, was listed as the 14th largest accountancy firm in the UK with about £65 millions fee income,[8] however following the merger and with the merger between Grant Thornton and RSM Robson Rhodes in the summer of 2007, Mazars was listed as 12th[9] with an estimated fee income of £90.3m.

"Neville Russell" was founded in 1900 by Charles Neville Russell to work principally with the insurance sector of the economy. Neville Russell developed a reputation in London of being specialists in this area.

Mazars is a keen advocate of a more open audit market and notably of joint audit.

Netherlands[edit]

As of 2003 Mazars integrated "Paardekooper & Hoffman" (of the Netherlands), which employed 800 people. In the Dutch audit market Mazars ranks as the sixth largest firm and contributes more than 15% of the total global turnover.

Jan Paardekooper founded "Paardekooper & Hoffman" in 1927. The firm worked with large clients involved in the maritime and harbour businesses of Rotterdam.

Germany[edit]

In April, 2007 Mazars and RSM Hemmelrath announced their merger which united about 400 professionals and €50 millions of turnover in the German market. Today (2008), Mazars Hemmelrath has eight offices in German metropolitan areas offering a range of audit, tax, and legal consulting services.[10][10]

Pakistan[edit]

In April, 2010 Mazars integrated BearingPoint into their business in Pakistan, thus adding advisory services in management and technology for sectors such as microfinance, financial services and within the public sector.[11]

Turkey[edit]

Mazars Denge was founded by two partners as Denge Denetim YMM A.S. in 1977. Today Mazars Turkey operates in six offices Istanbul (3 offices), Ankara, Izmir and Bursa with more than 200 persons workforce.

Mazars Turkey, is among the top 5 Audit & Accounting firms in Turkey and serve a portfolio of more than 500 clients in various sectors from which 50% are foreign companies with 19 partners (including 13 CPA).

Mazars Turkey Won The Tax Firm Of The Year Award in 2008 and Best Transfer Pricing Firm Award in 2009. [12]

United States[edit]

In April 2010, Mazars and Weiser, an audit and advisory firm with a strong presence in the north eastern region of the US, announced their merger. Partners from both entities voted to incorporate 74 Weiser partners into Mazars’ international integrated partnership. The deal marked a new stage in the Mazars’ international development.

Thailand[edit]

In 2007, continuing its Asian expansion, Mazars merged with the Double Impact Group in Thailand. Since then, Mazars Thailand ( www.mazars.co.th ) has enjoyed consistent growth to become the 6th largest International professional services firm in Thailand. It is a market leader in Outsourced Accounting Services, as well as a major provider of Audit, Tax, Legal and Advisory services to over 500 International and Thai clients.

Mazars governance[edit]

  • Philippe Castagnac is the Group’s CEO and chairs the Group Executive Board, whose members are Antonio Bover (Spain), Hervé Hélias (France), Hilton Saven (South Africa), Phil Verity (United Kingdom) and Victor Wahba (United States).
  • Patrick de Cambourg, ex-Chairman, has been proposed by the French president François Hollande for the presidency of the French accounting standard setter authority, Autorité des normes comptables (ANC).

Management[edit]

Group Executive Board

  • Philippe Castagnac - Chairman - CEO of the Group
  • Antonio Bover - Co-CEO - Sponsor of the Tax and Law Global Business Units, Senior Partner of Mazars in Spain - in charge of overseeing Mexico.
  • Hervé Hélias - Co-CEO - Leader of the Public-Interest Entity Global Business Unit, Senior Partner of Mazars in France - in charge of relations with Latin America.
  • Hilton Saven - Co-CEO - Senior Partner of Mazars in South Africa - in charge of relations with Africa.
  • Phil Verity - Co-CEO - Leader of the Owner-Managed Business Global Business Unit, Senior Partner of Mazars in the United Kingdom - responsible for relations with certain European countries.
  • Victor Wahba - Co-CEO of the Group and member of the Executive Committee of WeiserMazars in the United States – responsible for Mazars’ strategic development in the United States and Bermuda.

Group Governance Council

  • Tim Hudson (United Kingdom), Chairman
  • Kenneth Morrison (Hong Kong), Vice-Chairman
  • Douglas A. Phillips (USA), Vice-Chairman (until May 21, 2015)
  • Jean-Louis Simon (France), Vice-Chairman (as of May 21, 2015)
  • Thierry Blanchetier (France)
  • Charles de Boisriou (France)
  • Kathryn Byrne (USA)
  • François de Carbonnel (France – external member)
  • Anita de Casparis (Netherlands)
  • Simone Del Bianco (Italy)
  • Mohamed Ali Elouani Cherif (Tunisia)
  • Denise K. Fletcher (USA – external member)
  • Patrice de Folleville (Germany)
  • Kathleen Robinson (South Africa)

External links[edit]

References[edit]

  1. ^ Facts and figures - Mazars - United Kingdom
  2. ^ The Top Accounting Firms In The World - Big 4 Accounting Firms
  3. ^ http://annualreport.mazars.com
  4. ^ http://annualreport.mazars.com/ - annual report website at 03:47, 7 March 2011 (UTC)
  5. ^ Detail of UK offices
  6. ^ Mazars expansion
  7. ^ Announcement of merger with MRI Moores Rowland/
  8. ^ Top50 Accounting firms in the UK 2006
  9. ^ http://www.accountancyage.com/resource/top50%7CSummer 2007 Top 50 UK accounting firms
  10. ^ a b Home - Mazars - Deutschland
  11. ^ Mazars integrates BearingPoint Pakistan - Mazars Group
  12. ^ Mazars / Denge Denetim YMM
  1. History of Mazars