International network sees modest growth, as advisory services perform strongly
STRONG PERFORMANCE in consultancy has pushed Baker Tilly International into growth.
Revenues for the international network were $3.4bn (£2.1bn) – all currencies converted to US dollars – for the year ending 30 June 2012, a 3% year-on-year increase.
Core service lines, accountancy; tax; and audit were either static or saw percentage decreases. Accountancy fell 13% to $460m, tax fell 3% to $840m and audit held at $1.23bn. However, consultancy grew 26% to $850m.
Regionally, there was modest growth, but the Europe, Middle East & Africa region was static at $1.21bn.
“Whilst the economic recovery remains unpredictable, our members have responded to the changing needs of our clients,” said Geoff Barnes, CEO and president of Baker Tilly International.
“Across all regions we have seen growth of 26% on consultancy services provided by member firms. This increase is reflected in our clients seeking a more holistic approach to the services we provide them.”
Baker Tilly International has 161 independent member firms in 137 countries, with 27,000 people in 738 offices. It is the 8th largest network, according to Accountancy Age’s Top 35 Networks 2013.