After more than a decade of consistent growth since its
foundation on 1 April 2007, International Accounting Bulletin’s ‘Association of
the Year’ – Praxity – celebrated its eleventh anniversary at the weekend.
revenues of Praxity participant firms hit a record high of US$5.20 billion for
the year ended 31 December 2017, representing a year-on-year increase of 9.5%
in real terms, and 8.7% at constant exchange rates.
The combined income
of participants in the alliance has now grown for 11 consecutive years, reflecting the continued strength of the 65+
expertise-sharing firms in more than 100 countries. This further cements Praxity’s position as the
world’s largest alliance of independent accounting and consulting firms.
is a great way to kick off our second decade” said Hilton Saven, Praxity’s
Chairman, reflecting on what’s been accomplished and how the strength of the
Alliance and activities of participant firms continues to elevate its global
record-breaking performance is testament to more than 47,000 worldwide experts
and support staff at participant firms. The continued success of the Alliance
demonstrates their commitment to sharing expertise across international borders
and delivering world class service at a local level.”
is it about Praxity that makes it special – and what do you tell people who
don’t understand what a global alliance can do for them?
Put simply, Praxity firms’ clients enjoy unrivalled
professional support to help them navigate complex business and tax affairs across
multiple borders worldwide. Praxity members are free to hand-pick expert
advisers from over 600 offices in more than 100 countries, forming
multi-disciplinary teams to meet every client need.
key facts and figures that might help:
World’s largest alliance of
independent accounting and consulting firms*
World’s sixth largest accounting
organisation, including Big4*
635+ offices worldwide providing
100+ countries giving truly local
47,000+ people worldwide
US$5.20bn – global revenue is
The Accountant/International Accounting Bulletin
Association of the Year 2017, 2016, 2014 and Rising Star Association 2013
are delivered by Praxity’s independent member ‘participant’ firms
Praxity is unashamedly selective in the
firms it welcomes to the alliance, each of which retains their own branding,
independence and financial responsibility.
firms are handpicked for their size, strength, reputation, governance,
financial condition, leadership and strategic geographic relevance
All are successful, highly-rated by
peers and share the same service ethos and international collaborative spirit. Senior-level
expertise and local knowledge is critical. Every firm is assessed by the membership committee every three years to
ensure they are maintaining high levels of service and performance.
projects are always directed by local contacts that clients know and trust
Experience shows that clients feel more
valued staying with their local firm and enjoy a comfort in continuity.
Praxity, one firm can approach another when specific advice is required outside
its usual technical expertise or geographic knowledge or presence
This gives clients the benefit of efficient,
seamless access to specialist technical skills and objective guidance when
developing or initiating business in an established or emerging market, from
wherever in the world they are based. Praxity firms can steer compliant routes
through any jurisdiction, giving businesses, regulators and stakeholders the
assurances they need.
Praxity, the careful vetting has already been done
Clients can skip the troublesome
process of searching for and appointing accounting firms in each international
territory and firms have every confidence in their international Praxity
colleagues. In many regions, there is more than one firm, giving even greater
choice when pulling a team together.
firms themselves build capacity and capability through accessing established
specialist Praxity working groups, using its online cloud-based collaboration
platform – Huddle – thought-leading communication forums, regular regional and
global conferences and retaining and developing their best employees through
now recognise Praxity participant firms as a cost-effective, viable and
unrivalled alternative to one of the Big 4 or one of the branded networks but,
for Praxity’s Executive Director Græme Gordon, this is not the end of the
delighted with the result of our collective endeavours over the past 11 years.
But our real focus remains on making a world of difference for our firms’
clients. We will continue developing our platform for participant firms to
connect and share international expertise, seamlessly and efficiently – embracing our distinctive resources and
championing our firms’ independence to help us keep fit for those clients and
our collective future. Here’s to the next ten years!”
Accounting Bulletin World Table 2018