Mazars

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Mazars
Société cooperative à responsabilité limitée, based in Belgium
Industry Professional services
Founded Rouen, France (1940)
Headquarters Paris, France
Key people
Philippe Castagnac, Group chairman and CEO
Services Audit
Chartered accountant
Consulting
Taxation
Corporate finance
Financial advisory
Legal
Revenue Increase€1.252 billion euro (2016)
Number of employees
17,000 (2016)
Website www.mazars.com

Mazars is a global audit, accounting and consulting group employing more than 18,000 professionals in 79 countries through member firms.[1] With head offices in France, 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.[2] 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.[3]

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.[4]

France[edit]

Mazars merged with accounting firm Guérard Viala to form Mazars & Guérard in 1995.

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 1,600 people in 20 offices[5][6] in the UK and turnover is around €100m.[7]

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.[8]

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,[9] 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[10] 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 2000 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: Roever Broenner Susat Mazars[edit]

In April, 2015 Mazars and RBS RoeverBroennerSusat announced their merger which united about 1,000 professionals, including 68 partners, and €110 millions of turnover in the German market. Today (2015), Roever Broenner Susat Mazars has twelve offices in German metropolitan areas offering a range of audit, accountancy, tax, legal and advisory services.[11][12]

Russia and Kyrgyzstan[edit]

Mazars has been present in Russia since 1995 and is an international player in the Russian market of audit and consulting services. Today, Mazars offices[13] in Moscow, St. Petersburg and Bishkek (Kyrgyzstan) employ more than 200 professionals. Mazars client portfolio includes more than 600 companies, including credit institutions that are included in the Top-100, large insurance and financial organizations, as well as banks belonging to the largest international holdings. The company has significantly improved its positions in the annual ratings published by http://www.raexpert.ru/rankingtable/auditors/2014/main/ RAEX (Expert RA) [Rating of Leading Audit and Consulting Groups (April 2015)] and the magazine Kommersant. Dengi in April 2015. Mazars in Russia is on the list of audit firms recognized by the EBRD and other credit institutions. Mazars Russia is also a member of various international organizations: Association of European Businesses in Russia, CCI France Russie, Russo-British Chamber of Commerce, Moscow Audit Chamber, ACCA, St. Petersburg International Business Association for North-West Russia.

China[edit]

In January, 2016 Mazars and Chinese firm ZhongShen ZhongHuan announced their merger, adding a further 1,800 professionals to Mazars globally, including 83 partners, from 15 offices across mainland China. Mrs. Zhang Liwen, Chief Chartered Accountant of ZhongShen ZhongHuan, was subsequently appointed to the Mazars Group Executive Board, while Mr. Shi Wenxian, Chief Partner of ZhongShen ZhongHuan, was appointed to the Mazars Group Governance Council.[14]

Malaysia[edit]

In 1986, Hew & Co (established in 1955) and Tan Toh Hua & Partners (established in 1958) had merged to form Hew & Tan. In the year 1999, Hew & Tan had changed their name to Moores Rowland as a rebranding exercise. On 1 September 2008, the Kuala Lumpur office of Moores Rowland merged with the global integrated structure of Mazars. To implement the merger, a new firm, Mazars (AF 001954), was registered to assume all existing mandates and statutory audit appointments of the Kuala Lumpur office of Moores Rowland.

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.[15]

Poland[edit]

The Mazars office opened in Warsaw in 1992 in order to meet the expectations of the growing number of foreign investors coming to Poland.

Nowadays, Mazars ranks among the top audit and advisory firms in Poland. It is present in Warsaw and Cracow, with four partners and 200 professionals working to help companies grow by offering a full range of audit, tax, accounting, HR advisory and payroll solutions. Mazars in Poland serves more than 800 small, medium and large international and Polish enterprises, including those listed at the Warsaw Stock Exchange.

Qatar[edit]

Further to a successful cooperation initiated in 2008, Ahmed Tawfik & Co. CPA, an accounting and auditing services firm in Qatar which traces its roots back to 1976, has joined Mazars international partnership in September 2011 and thus becoming Mazars Ahmed Tawfik & Co. CPA.

Mazars Ahmed Tawfik & Co. CPA specializes in audit, accounting, tax and advisory services and can count on 30 professionals in its office.

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, İzmir, Denizli, Gaziantep and Bursa – with a more than 350-person workforce.

Mazars Turkey is among the top five audit and accounting firms in Turkey and serves 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.[16]

United States[edit]

In April 2010, Mazars and Weiser, an audit and advisory firm with a strong presence in the northeastern 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 Mazars’ international development.[17]

Thailand[edit]

In 2007, continuing its Asian expansion, Mazars merged with the Double Impact Group in Thailand.

Since then, Mazars Thailand[18] has achieved consistent strong growth to become the 6th-largest international professional services firm in Thailand, with over 150 consultants and 7 partners. 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.

In November 2016, a further professional milestone was achieved, as Mazars Thailand was awarded a listed company audit license by the Thai Securities & Exchange Commission.

Czech Republic[edit]

Mazars Czech Republic was founded in 1995 and employs around 180 professionals.[19] Mazars is, by domestic sales, the 7th biggest audit firm on the Czech market.[20] Mazars offers wide range of services including: audit, accountancy, outsourcing, payroll, internal audit, actuarial, transaction advisory and HR agenda. In 2015, the managing partner of Mazars Czech Republic was Milan Prokopius.

Vietnam[edit]

Mazars has been established in Vietnam since 1994 and employs around 160 professionals and general staff.[21] Mazars Vietnam operates through its offices in Hanoi and Ho Chi Minh City. The managing partner of Mazars in Vietnam is Marc Deschamps,[22] based in Ho Chi Minh City.

Australia[edit]

Mazars integrated Australian audit and advisory firm Duncan Dovico on 1 January 2016.[23] Mazars announced the acquisition of Australian based financial modelling and training provider Corality Financial Group on 13 July 2016 [24] to form the new team Global Infrastructure Finance.

References[edit]

  1. ^ Facts and figures - Mazars - United Kingdom
  2. ^ "Creating Shared Value: Mazars Group publishes its 2014-2015 Annual Report". Retrieved 12 July 2016. 
  3. ^ http://annualreport.mazars.com/ - annual report website at 03:47, 7 March 2011 (UTC)
  4. ^ History of Mazars
  5. ^ "Mazars, a different player in auditing, accounting, tax and advisory services in the United Kingdom". Retrieved 12 July 2016. 
  6. ^ Detail of UK offices
  7. ^ Mazars expansion
  8. ^ Announcement of merger with MRI Moores Rowland/
  9. ^ "Top50 +50 firms face ICAEW audit fines - Accountancy Age". Retrieved 12 July 2016. 
  10. ^ http://www.accountancyage.com/resource/top50%7CSummer 2007 Top 50 UK accounting firms
  11. ^ "Two become one". Retrieved 12 July 2016. 
  12. ^ "Wirtschaftsprüferfusion von Röver Brönner Suasat und Mazars - manager magazin". Retrieved 12 July 2016. 
  13. ^ Mazars offices
  14. ^ "Mazars merger with Chinese firm ZhongShen ZhongHuan | Accountancy Age". www.accountancyage.com. Retrieved 2016-08-05. 
  15. ^ "Mazars integrates BearingPoint Pakistan". Retrieved 12 July 2016. 
  16. ^ "Anasayfa". Retrieved 12 July 2016. 
  17. ^ McKenna, Francine. "Bienvenue! French Audit Firm Mazars Arrives In U.S.". Retrieved 2016-08-05. 
  18. ^ Mazars Thailand
  19. ^ "Domovská stránka". Mazars Česká republika. Retrieved April 2015.  Check date values in: |access-date= (help)
  20. ^ Horáček, Jakub (April 2015). "Ekonom" (14). Economia.  Check date values in: |access-date= (help);
  21. ^ "Home". Retrieved 12 July 2016. 
  22. ^ "Jean-Marc Deschamps". Retrieved 12 July 2016. 
  23. ^ "Mazars Australia". Mazars Australia. 1 January 2016. 
  24. ^ "Corality acquisition". Corality Financial Group. 13 July 2016. 

External links[edit]