Mazars posts record global revenues ahead of Forvis mega-merger

06 March 2024 3 min. read
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Against the backdrop of an upcoming mega-merger with US firm Forvis, global accounting and consulting firm Mazars has recorded its third consecutive year of double-digit growth to €2.8 billion.

Already in the process of maneuvering its way into the top ten biggest global accounting and consulting networks, Paris-headquartered Mazars has now posted its third consecutive year of double-digit growth, helped along by its ever-expanding Australian branch. Globally, the firm last year cracked the US$3 billion mark on the back of a 13 percent jump, while its Australian business rose by 17.4 percent to contribute over $70 million in local currency.

“It’s been another successful year demonstrating the strength and relevance of our unique integrated partnership model,” stated global chairman Hervé Hélias. “The quality of our multidisciplinary offering sets us apart, enabling us to better serve our clients, attract the best talent, and serve the public interest. While it’s been a demanding environment, we have invested purposefully to support international growth and I’m pleased that this has remained strong.”

Mazars posts record global revenues ahead of Forvis mega-merger

Source: Mazars

Part of that international investment has been directed down under, with a number of recent senior promotions and company veteran Maximilien Amphoux brought in last year among others to bolster the firm’s local leadership. The approach appears to be paying dividends, with Mazars’ Australian branch not just outpacing the global firm’s already impressive growth, but most of the established networks in the Australian market, where it now sits in the top 25.

“This year, we witnessed substantial growth fuelled by a strategic blend of external recruitment, deserved promotions from within, and the efficient utilisation of our international mobility program to facilitate seamless transfers,” stated Mazars Sydney managing partner Matthew Ashley.

“In Australia, our dedication to nurturing talent and refining our expertise has been pivotal in delivering positive outcomes for our clients, enabling them to progress in market uncertainties.”

As to the future, Ashley further noted the firm’s recent move into larger premises within the Melbourne CBD, while stating that Mazars had enhanced its local offerings in tax, financial services, HR advisory, and sustainability and risk consulting – the latter two proving to be major growth drivers for the firm both in Australia and abroad. All up, the global firm reported a 43-57 percent split between its audit and non-audit revenue streams and double-digit growth across all major lines.

The positive results land ahead of a looming hook-up with US player Forvis, which has the potential to propel the joint entity into the global top-ten with combined revenues pushing toward the $5 billion mark. Hélias concluded; “As we step into a new year, we are excited by the opportunity to advance the scale of our offering through the new pioneering network, and we are committed more than ever to helping our clients confidently build and grow their businesses.”