Mazars

Mazars is a global audit, accounting and consulting group employing more than 40,400[1] professionals in 91 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.

Mazars
Société cooperative à responsabilité limitée
IndustryProfessional services
Founded1945 (1945)
Rouen, France
HeadquartersParis, France
Key people
Hervé Hélias (chairman and CEO)
ServicesAudit, Chartered accountant, Consulting, Taxation, Corporate finance, Financial advisory, Legal
Revenue€1.8 billion (2019)
Number of employees
40 400 (2019)
WebsiteMazars.com

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

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

Countries

Australia

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

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

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

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

Ireland

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 22 Partners and over 400 professionals.[13]

Germany: Roever Broenner Susat Mazars

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

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.

Malaysia

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.

Netherlands

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.

Pakistan

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

The Mazars office opened in Warsaw in 1992.

Qatar

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.[17]

Mazars Ahmed Tawfik & Co. CPA[17] specializes in audit, accounting, tax and advisory services and has 30 professionals in its office.

Russia and CIS

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[18] in Moscow, St. Petersburg and Bishkek (Kyrgyzstan) employ more than 250 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 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

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.

Thailand

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.

Turkey

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

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

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 millions 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. 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 an advocate of a more open audit market and notably of joint audit.

Mazars is the main sponsor of Yorkshire County Cricket Club.

United States

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 July 9, 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, with the former citing:

Congress' legislative powers do not authorize it to engage in a nationwide inquisition with whatever resources it chooses to appropriate for itself. The majority's solution—a nonexhaustive four-factor test of uncertain origin—is better than nothing. But the power that Congress seeks to exercise here has even less basis in the Constitution than the majority supposes. I would reverse in full because the power to subpoena private, nonofficial documents is not a necessary implication of Congress' legislative powers. If Congress wishes to obtain these documents, it should proceed through the impeachment power. Accordingly, I respectfully dissent.[31]

See also: Trump v. Mazars USA, LLP and Legal affairs of Donald Trump § Lawsuits over congressional subpoenas

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]

Vietnam

Mazars has been established in Vietnam since 1994 and employs around 160 professionals and general staff.[33] Mazars Vietnam operates through its offices in Hanoi and Ho Chi Minh City. The managing partner of Mazars in Vietnam is Marc Deschamps,[34] based in Ho Chi Minh City.

Zimbabwe

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

Brazil

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. 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.

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References
  1. https://www.mazars.co.za/Home/About-us/Mazars-at-a-glance
  2. Facts and figures - Mazars - United Kingdom Archived 24 August 2012 at the Wayback Machine
  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".
  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. "Audit, Accounting, Tax, Financial Advisory Services - Doha, Qatar". MAZARS AHMED TAWFIK & CO. CPA.
  18. "Mazars". Mazars.
  19. (https://raex-a.ru/rankingtable/auditors/2018/main)
  20. "Mazars". Mazars.
  21. http://www.ccifr.ru/index.php?pid=38&page=6
  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 1 January 2007 at the Wayback Machine
  26. Mazars expansion Archived 15 December 2006 at the Wayback Machine
  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 July 9, 2020, No. 19-715), casetext.com; accessed July 19, 2020.
  32. "Mazars USA Welcomes Keri Fleming as New Chief People Officer". PR Newswire. 18 June 2020. Retrieved 6 July 2020.
  33. "Home". Retrieved 12 July 2016.
  34. "Jean-Marc Deschamps". Retrieved 12 July 2016.
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