Praxity revenues up 11.8% in 2011
Surge in Asia Pacific accounting firm revenues helps Praxity alliance buck the economic slowdown in the West
PRAXITY, a global alliance of accounting firms, said that its members’ revenues increased by 11.8% increase in 2011.
The alliance – whose members include Mazars, IFM Trust in Jersey, the Channel Islands, and MNP, a top-10 Canadian firm – said that its collective revenue increased from $3.3bn (£2.11bn) in 2010 to US $3.7bn (£2.37bn) in 2011.
Member firms’ audit and accountancy revenue rose by 16.1% and tax services 9.6%. Corporate recovery revenue grew by 43.7% and management consulting by 12.2%.
By region, firms’ revenue soared by 82% in Asia Pacific, 13.6% in Africa & Middle East, 11.7% in Latin America, 10.9% in North America and 2.9% in Europe.