RSM International

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RSM International
Type Member firms
Industry Professional services
Founded 1964
Headquarters London
Key people Jean Stephens, CEO
Products Audit
Accounting
Tax
Consulting
Financial advisory
Revenue Green Arrow Up.svg$3.9 billion USD (2011) [1]
Employees 32,700
Website www.rsmi.com

RSM is the 7th largest professional services network of audit, tax and advisory firms in the world.[1]

RSM International Limited is the legal name and ‘RSM’ is the brand/logo. The member firms of RSM are independent accounting and advisory firms each of which practices in its own right. The network is not itself a separate legal entity of any description in any jurisdiction and does not provide services.

History[edit]

RSM International has been in continuous existence since 1964, when it began as a small network that was originally called DRM. In 1993 the organisation restructured and changed its name to RSM International.

Historically, the prefix ‘RSM’ was derived from the initials of 3 of the original member firms of the organisation: Robson Rhodes (UK), Salustro Reydel (France) and RSM McGladrey/McGladrey & Pullen (USA). This historical foundation, however, no longer bears any relevance to the organisation today and RSM has now become a name in its own right. Of the three founding members, only RSM McGladrey remains a member of the international organisation. Robson Rhodes is now part of Grant Thornton and Salustro Reydel is part of KPMG.

With effect from 1 January 2006, RSM International appointed Jean Stephens as its CEO for a five-year term.[2] This made her the first woman chief executive of a top 10 global accounting network.[3] Jean Stephens replaced M.Sabry Heakal, who had held the post for 10 years from 1 November 1995.

RSM Salustro Reydel[edit]

In 2004, RSM Salustro Reydel, the former French firm merged with KPMG and resigned from RSM International.[4]

RSM France was created as the new French member firm with offices in Paris.

RSM Robson Rhodes/RSM McGladrey merger[edit]

In 2006, RSM Robson Rhodes, the former UK firm, and RSM McGladrey announced they were to merge. However, delays in completing the deal due to financial problems at H&R Block, the company which owns RSM McGladrey, led RSM Robson Rhodes to terminate the deal.

On April 29, 2007, the partners of RSM Robson Rhodes announced they were to merge with Grant Thornton UK LLP, the UK firm of Grant Thornton International and 6th largest accountancy firm in the UK. The merged entity adopted the Grant Thornton brand and Robson Rhodes resigned from RSM International. The deal was completed on July 1, 2007.[5]

United Kingdom member firm[edit]

Following the resignation of Robson Rhodes, Bentley Jennison later joined the RSM International network as its British member, becoming RSM Bentley Jennison.

RSM Bentley Jennison later merged with Tenon Group to become RSM Tenon, a company listed on the UK stock exchange. The financial problems of the combined RSM Tenon Group led it falling into administration with its assets acquired by Baker Tilly. In April 2014, Baker Tilly UK announced it would be joining the RSM International network later in the year and would adopt the RSM brand. [6]

[edit]

The current RSM logo – ‘The RSM World’ – was introduced in March 2012. The network’s global tagline ‘Connected for Success’ was also introduced at this time.

Representation[edit]

RSM is represented in 102 countries (as at January 2013).[7]

The member and correspondent firms of RSM are organised into geographic regions for the purposes of business development, administration, quality control and for the coordination of cross-border or multinational team assignments. The regions are constituted as follows: Asia Pacific, Latin America, North America, Europe, Africa and MENA. Member firms are well-established practices of high local standing, most of which are ranked within the top ten in their own country.

In 2012, member firms and correspondents (c) in the following countries joined the network: Angola, Chad (c), Croatia, Georgia, Honduras (c), Iraq (c), Latvia, Macedonia (c), Nicaragua, Nigeria, Palestine (c), Serbia (c), Sweden, Switzerland, Vietnam, Zambia (c).

Services[edit]

RSM member firms provide the core service lines of audit and assurance, accounting, risk advisory, tax, transaction support, corporate restructuring & insolvency and IFRS services. RSM member firms also provide other business and consulting services. Member firms provide services according to the specific regulations and laws in their country.

Professional Representation[edit]

In August 2010, Robert Dohrer,[8] RSM Global Leader for Quality and Risk, was appointed Chairman of the International Federation of Accountants Forum of Firms for a three-year term. RSM is also represented on other professional international committees including EGIAN and the International Federation of Accountants Transnational Auditors Committee.

RSM and the European Business Awards[edit]

RSM is the lead sponsor and corporate champion of the European Business Awards 2013/14 programme.[9][10]

Working in RSM[edit]

There are over 32,500 people working within RSM member firms around the world. The Executive Office and member firms run training and development programmes for staff.

The RSM Academy is an annual week-long residential development programme for senior managers, directors and junior partners from member firms worldwide. Delegates at the RSM Academy attend to improve their international technical and managerial skills and learn how to work with new and different cultures on cross-border client work.[11]

RSM CEO Jean Stephens[edit]

In January 2006, Ms Jean Stephens became the first female Chief Executive Officer of a top 10 international accounting network.[12]

In May 2009, Ms Stephens received an Honorary Doctorate in Humane Letters from her Alma Mater, University of Redlands, in recognition of her international career with RSM.

See also[edit]

References[edit]

  1. ^ http://www.internationalaccountingbulletin.com/countrysurvey/iab-world-survey/
  2. ^ RSM International press release December 2005, 19
  3. ^ RSM International Names Jean Stephens Chief Executive Officer March 8, 2005, Sarbanes-Oxley Compliance Journal
  4. ^ International Accounting Bulletin, "RSM Salustro Reydel, KPMG to merge"
  5. ^ "Auditors join forces to take on Big Four", Daily Telegraph, 28 April 2007
  6. ^ http://www.dailyrecord.co.uk/business/professionals/baker-tilly-acquired-assets-former-3415608
  7. ^ Fast facts about RSM Retrieved 1 March 2013
  8. ^ Biography of Robert Dohrer
  9. ^ http://www.rsmi.com/en/press/rsm-announces-lead-sponsorship-of-the-european-business-awards.aspx
  10. ^ RSM announces lead sponsorship of the European Business Awards Retrieved 1 March 2013
  11. ^ RSM Academy prepares talent to lead the international industry Retrieved 1 March 2013
  12. ^ RSM International press release Retrieved 12 July 2012

External links[edit]