Mazars, the international audit, tax and advisory firm, has announced a fee income of €2.1 billion in its 2020/2021 financial year (September 1, 2020 to August 31, 2021), representing a 12.3 per cent increase (excluding forex impact of -1.6 per cent) compared to the previous financial year. The increase in fee income comprises strong organic growth (9.4 per cent), complemented by external growth of 2.7 per cent.
Commenting on the firm’s financial results, Hervé Hélias, CEO and chairman of the Mazars Group, said: “2021 was an excellent year in terms of business and financial performance. All our service lines and geographies progressed well, and we won significant new business across large and listed companies, as well as businesses of all sizes, including major international corporations. Our double-digit growth confirms the strength and resilience of our unique integrated model. It is well balanced between regulated and non-regulated services, which reflects our long-term strategy to invest in a core suite of high-quality audit, tax and advisory services that help our clients grow confidently and responsibly.”
Mazars is committed to delivering high-quality audits to companies around the world. In 2021, the firm continued to grow its audit practice (+8.5 per cent): today Mazars audit 2,400 PIEs worldwide, 1,200 headquartered in Europe, 960 listed on a regulated market and more than 480 listed in Europe.
Mazars is ranked fifth in the European audit market for large and listed European companies.
The firm also grew significantly in financial advisory (+15.7 per cent), which reflects a vibrant transaction market globally. Its growth in consulting (+7.9 per cent) reflects Mazars’ focus on services that are consistent with its core mission to serve the public interest: Mazars helps its clients to navigate a complex regulatory environment and mitigate the risks, and to operate and grow with transparency and confidence.
Meanwhile, Mazars in Malta also registered a very positive performance during this reporting period. In fact, the company, which employs 69 professionals under the leadership of four partners, recorded a 22 per cent increase in fee income, up to €4.69 million. Commenting on these results, managing partner Anthony Attard highlighted the perseverance, resilience, commitment and professionalism shown by the firm’s employees during the COVID pandemic.
“Despite facing another challenging year, our people remained focused on delivering a high-quality service to and creating significant value for our clients. Encouraged by this year’s results, we remain committed towards maintaining the highest possible quality standards, thus serving the best interests of all our stakeholders,” he said.
Hélias said: “Responsibility and sustainability have become important foundations of business performance and are vital to build confidence and trust in markets, corporations and public institutions. In 2022 and beyond, we will continue to invest where it matters for our people, clients and society, growing responsibly and moving forward with renewed purpose and confidence.”
Mazars is an internationally integrated partnership, specialising in audit, accountancy, advisory, tax and legal services. Operating in over 90 countries and territories around the world, it draws on the expertise of more than 44,000 professionals – 28,000+ in Mazars’ integrated partnership and 16,000+ via the Mazars North America Alliance – to assist clients of all sizes at every stage in their development
For more information about Mazars in Malta, visit www.mazars.com.mt.