Praxity recruits Saudi Arabian firm to network

by Rachael Singh

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25 Mar 2014

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Rick Anderson

PRAXITY has added a Saudi Arabian firm to its alliance of independent international accountancy practices.

Al Kharashi's & Co has joined the international network Praxity which was ranked second in the Accountancy Age Associations and Alliances 2013 table, by combined fee income.

Founded in 1981, Al Kharashi & Co has four partners and employs around 60 staff. It specialises in audit, tax, accounting and the provision of advisory services such as management consulting. It also specialises in Zakat, the charitable giving by Muslims, who consider it their personal responsibility to ease economic hardship for fellow Muslims to eliminate inequality for followers of Islam.

Alkarashi's clients are in the hotel, resorts, energy, electricity, education and insurance sectors. The firm also works closely with the Department of Zakat and Income Tax, the Ministry of Commerce and Industry and the Saudi Arabian Monetary Agency.

Praxity chairman, Rick Anderson (pictured), said: "Firms are selected for their size, strength, leadership and strategic geographic relevance. AlKharashi's & Co is a great addition to the alliance - our representation in over 97 countries confirms how we continue to fulfil our ethos of global collaboration, providing members with an unrivalled resource and knowledge pool."

In the 2013 Accountancy Age Top 35 International Networks and Associations table, Praxity came second with a combined fee income of $3.7bn (£2.2bn), an increase of 1% on the previous year.

In August last year the international network recruited UK-based Brand Finance and Palestine-based El Wafa to the group.

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