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The organisation achieved landmark revenue of €2.45 billion in an “eventful year”.
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Mazars Australia double-digit growth feeds record global figure
17 February 2023
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Mazars Australia has contributed to a strong year for the global conglomerate which notched up total growth of 16.4 per cent and €2.45 billion in fee income.
Managing partner at Mazars Australia Matthew Ashley said the local firm had achieved consistent growth over all its service lines, contributing to the record achievement.
“We did have some solid, consistent growth and we ended up with just shy of $61 million worth of revenues in 2022, which was a growth of about 11.5 per cent,” said Mr Ashley.
“What we did experience was consistent growth across all of our major service lines, and we also were investing heavily into a number of our other service lines as well, in particular financial advisory and we’ll really see the results from those in the 2023 year.”
Mr Ashley said the firm was targeting 18 per cent growth across the whole practice over the upcoming year, with continued development of all its service lines.
“Our audit practices are going to be up about 21 per cent and what we’re seeing there is that there’s a lot of hard work in terms of building our reputation and leveraging off our global audit methodology,” he said.
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“One of the key things about Mazars is our client-centric approach and we’re seeing the results in terms of all the hard work we’ve put into building out that audit practice.”
“All this growth is organic. We’ve made a couple of external hires, some transferring in from overseas offices, and we’re continuing to build out our capabilities. We’ve made a number of internal promotions as well.”
CEO and chairman of the global Mazars Group Hervé Hélias said 2022 “was an eventful year that tested the agility of companies everywhere”.
“These disruptions coming on top of longer-term trends including digitisation and sustainability can be challenging, but they also offer vast opportunities to grow, develop and explore new ways to create value.”
“In this unsettled context, Mazars’ role, more than ever, is to be a trusted partner to clients.”
To continue the success, the firm said it was investing more in technology and sustainability, with both expected to have a significant impact.
“We are investing in technologies that bring real-time added value to our clients’ decision-making and experience, and equally more advanced data analytics tools to enhance the work of our auditors,” said Mr Hélias.
“We are also focusing our efforts on further upgrading a wide spectrum of technology-powered advisory services, including tax, legal, financial advisory, consulting and sustainability services.”
Mr Ashley said the Australian firm would benefit from the organisation’s global investment in technology.
“Mazars is working extremely hard on the global IT transformation project that’s going to enable our teams to be more efficient, to operate more effectively and one of the advantages of Mazars is that we are a global integrated partnership so collaboration is critical,” he said.
“By moving across into global IT tools, both external products, as well as internally generated ones is going to mean that our teams can collaborate more effectively on cross country engagements and also help to drive operating expenditure that we can use for strategic investments.”
“We want our teams to be working on more value added projects, rather than just purely on compliance, so by automating and making things more efficient that’s going to enable them to do more work that they want to be doing.”
The firm said its sustainability investment would mean the organisation would be able to assist clients with ESG obstacles.
“We have the duty to help our clients transform by targeting ESG resources where they’re most needed and helping them overcome challenges to non-financial reporting,” said Mr Hélias.
“This is why Mazars is investing massively in upskilling teams, particularly by creating hybrid auditors, bilingual in financial and non-financial information, and ensuring their career progression.”
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