Mazars

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Mazars
TypeSociété cooperative à responsabilité limitée
IndustryProfessional services
Founded1945; 76 years ago (1945)
Rouen, France
HeadquartersParis, France
Key people
Hervé Hélias (chairman and CEO)
ServicesAudit, Chartered accountant, Consulting, Taxation, Corporate finance, Financial advisory, Legal
RevenueIncrease€1.9 billion (2020)
Number of employees
42,000 (2021)
WebsiteMazars.com

Mazars is a global audit, accounting and consulting group employing more than 42,000[1] professionals in more than 90 countries through member firms.[2] 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 euros.[3] 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 1945, 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.[5]

Group CEO[edit]

  • 1945–1983: Robert Mazars, founder
  • 1983–2011: Patrick de Cambourg, still honorary chairman
  • 2011–2018: Philippe Castagnac, still honorary chairman
  • 2018–present: Hervé Hélias, current CEO

Countries[edit]

Australia[edit]

Mazars integrated Australian audit and advisory firm Duncan Dovico on 1 January 2016.[6] Mazars announced the acquisition of Australian-based financial modelling and training provider Corality Financial Group on 13 July 2016[7] to form the new team Global Infrastructure Finance. From 1 January 2019,[8] the Brisbane firm Hanrick Curran and the Melbourne firm Cummings Flavel McCormack both joined the global Mazars partnership, providing the Firm with an East-Coast presence in Australia.

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.[9]

Czech Republic[edit]

Mazars Czech Republic was founded in 1995 and employs around 180 professionals.[10] Mazars is, by domestic sales, the 7th biggest audit firm on the Czech market.[11] Mazars offers audit, accountancy, outsourcing, payroll, internal audit, actuarial, transaction advisory and related services. In 2015, the managing partner of Mazars Czech Republic was Milan Prokopius.

France[edit]

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

Ireland[edit]

In 1987, Rawlison Hunter joined forces with Mazars.[12] Since then, Mazars has joined and merged with other firms in Ireland, and has offices in Dublin, Galway and Limerick with 30 Partners and over 500 professionals.[13]

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 million of turnover in the German market. As of 2015, Roever Broenner Susat Mazars had twelve offices in German metropolitan areas, offering audit, accountancy, tax, legal and advisory services.[14][15]

Greece[edit]

Mazars in Greece became fully integrated to the Mazars Group as of 1 September 2012 and is now operating under the Mazars brand with two offices in Athens and Thessaloniki and over 120 professionals.[citation needed]

India[edit]

Mazars is present in India since early 2000 through its network firm Kalyaniwalla and Mistry and S. N Dhawan & Co. In 2019, Mazars poached a team of 25+ partners and 250+ team members from a competing accounting and consulting firm to set up their business advisory practice in India.

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.[citation needed]

Netherlands[edit]

As of 2000, Mazars integrated "Paardekooper & Hoffman" (of the Netherlands), which employed more than 1000 people. In the Dutch audit market, Mazars ranks as the sixth-largest firm and contributes more than 15% of the total global turnover.[citation needed]

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

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.[16]

Poland[edit]

Mazars has been operating in Poland since 1992, currently employs over 300 specialists in Warsaw and Krakow and serves more than 800 Polish and international companies of various sizes, offering them a full range of services in the fields of audit, accounting, HR & payroll outsourcing, tax, consulting and financial advisory.

[17]

Qatar[edit]

Following a prior cooperation initiated in 2008 with Ahmed Tawfik & Co. CPA, an accounting and auditing services firm in Qatar which traces its roots back to 1976, Mazars entered into an international partnership in September 2011,becoming Mazars Ahmed Tawfik & Co. CPA.[18]

Mazars Ahmed Tawfik & Co. CPA[18] specializes in audit, accounting, tax and advisory services and has 30 professionals in its office.[citation needed]

Russia and CIS[edit]

Mazars has been present in Russia since 1995 and is an international player in the Russian market of audit and consulting services. Mazars established its presence in Russia in 1995. Today, Mazars offices in Moscow, Saint-Petersburg and Togliatti employ over 350 professionals. Mazars also has offices in Bishkek (Kyrgyzstan) and Tashkent (Uzbekistan). The client portfolio of Mazars in Russia includes more than 600 companies. The company has significantly improved its positions in annual ratings published by RAEX[19] (Expert RA) in May 2019. Mazars Russia is also a member of various international organizations: Association of European Businesses in Russia,[20] CCI France Russie,[21] St. Petersburg International Business Association for North-West Russia,[22] Russo British Chamber of Commerce, German-Russian Chamber of Commerce (AHK).

Singapore[edit]

Mazars in Singapore has been present in Singapore since 1979 (as part of Moores Rowland International network of firms) and became Mazars LLP in 2009. In Singapore, Mazars specialises in audit and assurance, tax, business risk consulting, accounting outsourcing, payroll outsourcing, financial advisory services, valuation and initial public offering, corporate and financial advisory services and corporate secretarial. The office in Singapore is composed of 245 multicultural professionals with different backgrounds.[citation needed]

Thailand[edit]

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

Since then, Mazars Thailand[23] has grown to become the 6th-largest international professional services firm in Thailand, with over 200 consultants and eight partners.[citation needed]

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 (three offices), Ankara, İzmir, Denizli, Gaziantep and Bursa – with a more than 350-person workforce.

Uganda[edit]

Mazars integrated Ugandan audit and advisory firm BRJ Partners on 1 January 2018. Mazars announced the integration with BRJ partners in the annual partners meeting. BRJ was a correspondent for two years before it was finally integrated into Mazars.

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[24][25] in the UK; turnover is around €100m.[26]

In April 2007, Mazars merged with the London office of MRI Moores Rowland which created a firm with turnover in the UK exceeding £90million.[27] Mazars, prior to the MRI Moores Rowland merger, was listed as the 14th-largest accountancy firm in the UK with about £65 million fee income,[28] 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, with an estimated fee income of £90.3m.[citation needed] 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.[citation needed]

Mazars is an advocate of a more open audit market and notably of joint audit.[citation needed]

Mazars is the main sponsor of Yorkshire County Cricket Club.

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.[29]

Since April 2019, US President Donald Trump's attorneys have had an ongoing controversy with a House Oversight and Reform Committee's request for some of the President's financial records which may be in the possession of Mazars USA.[30] On 9 July 2020, the United States Supreme Court vacated and remanded, 7–2, a lower court ruling against the President. The opinion was written by Chief Justice Roberts. Justices Alito and Thomas dissented with the remand.[31]

On 18 June 2020, Mazars USA LLP confirmed that as Chief People Officer, Keri Fleming has joined the company. Keri succeeds the retiring Julie Venkat.[32]

On 25 February 2021, the House Oversight Committee in the 117th Congress, reissued the subpoena to Mazars USA for the same documents it had previously sought.[33]

Vietnam[edit]

Mazars has been established in Vietnam since 1994 and employs around 160.[34] Mazars Vietnam operates through its offices in Hanoi and Ho Chi Minh City. The managing partner of Mazars in Vietnam is Marc Deschamps,[35] based in Ho Chi Minh City.

Zimbabwe[edit]

In 2016, Mazars signed a correspondent agreement with KLMCA Zimbabwe, an audit, tax and advisory firm.[citation needed]

Brazil[edit]

As of 2002 Mazars integrated "Cabrera". Mazars in Brazil is specialized in the fields of Audit, Consulting, Financial Advisory Services, Tax Services and Business Process Outsourcing.[citation needed] Mazars Brazil has more than 800 professionals across 7 offices in the cities of São Paulo, Sorocaba, Barueri, Campinas, Ribeirão Preto, Rio de Janeiro and Curitiba, providing services to small, medium and large businesses.[citation needed]

References[edit]

  1. ^ "Mazars at a glance - Mazars - South Africa". www.mazars.co.za.
  2. ^ "Mazars at a glance - Mazars - United Kingdom". www.mazars.co.uk. Archived from the original on 24 August 2012.
  3. ^ "Creating Shared Value: Mazars Group publishes its 2014-2015 Annual Report". Retrieved 12 July 2016.
  4. ^ "Transformation: Mazars Group publishes its 2016-2017 Annual Report - Mazars Group". www.mazars.com.
  5. ^ Mazars. "Our roots".
  6. ^ "Mazars Australia". Mazars Australia. 1 January 2016.
  7. ^ "Corality acquisition". Corality Financial Group. 13 July 2016.
  8. ^ Mazars. "Mazars Expands in Australia: A story of continuous global growth - Mazars - Australia". www.mazars.com.au. Retrieved 17 October 2019.
  9. ^ "Mazars merger with Chinese firm ZhongShen ZhongHuan | Accountancy Age". www.accountancyage.com. Retrieved 5 August 2016.
  10. ^ "Domovská stránka". Mazars Česká republika. Retrieved 3 April 2015.
  11. ^ Horáček, Jakub (April 2015). "Ekonom" (14). Economia.
  12. ^ Mazars. "History". Retrieved 31 May 2018.
  13. ^ Mazars. "Mazars, a different player in auditing, accounting, tax and advisory services in Ireland". Retrieved 31 May 2018.
  14. ^ "Two become one". Retrieved 12 July 2016.
  15. ^ "Wirtschaftsprüferfusion von Röver Brönner Suasat und Mazars - manager magazin". Retrieved 12 July 2016.
  16. ^ "Mazars integrates BearingPoint Pakistan". Archived from the original on 11 March 2012. Retrieved 12 July 2016.
  17. ^ Mazars. "Mazars in Poland: Growing together - Mazars - Poland". www.mazars.pl. Retrieved 10 June 2021.
  18. ^ a b "Audit, Accounting, Tax, Financial Advisory Services - Doha, Qatar". MAZARS AHMED TAWFIK & CO. CPA.
  19. ^ "Список крупнейших российских аудиторских организаций (субъектов аудиторской деятельности) по итогам 2018 года".
  20. ^ "Mazars". Mazars.
  21. ^ "CCI France Russie". CCI France Russie.
  22. ^ "СПИБА > Членство > Список членов > MAZARS". 21 July 2015. Archived from the original on 21 July 2015.
  23. ^ Mazars. "Mazars - Thailand". www.mazars.co.th.
  24. ^ "Mazars, a different player in auditing, accounting, tax and advisory services in the United Kingdom". Retrieved 12 July 2016.
  25. ^ "Detail of UK offices". Archived from the original on 1 January 2007.
  26. ^ "Mazars expansion". Archived from the original on 15 December 2006.
  27. ^ Announcement of merger with MRI Moores Rowland Archived 28 September 2007 at the Wayback Machine/
  28. ^ "Top50 +50 firms face ICAEW audit fines - Accountancy Age". Retrieved 12 July 2016.
  29. ^ McKenna, Francine. "Bienvenue! French Audit Firm Mazars Arrives in U.S." Retrieved 5 August 2016.
  30. ^ Andrew Desiderio (15 April 2019). "Trump attorneys warn accounting firm not to hand over financial records; The president's attorneys urged Mazars USA to not comply with an imminent Democratic subpoena". Politico.com. Retrieved 19 July 2020.
  31. ^ Trump v. Mazars appeal, U.S. Supreme Court (decided 9 July 2020, No. 19-715), casetext.com; accessed 19 July 2020.
  32. ^ "Mazars USA Welcomes Keri Fleming as New Chief People Officer". PR Newswire. 18 June 2020. Retrieved 6 July 2020.
  33. ^ Wolfe, Jan (3 March 2021). "U.S. House panel reissues subpoena for Trump's tax records". Reuters. Retrieved 5 March 2021.
  34. ^ "Home". Retrieved 12 July 2016.
  35. ^ "Jean-Marc Deschamps". Retrieved 12 July 2016.