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RSM has announced a 6 per cent increase in global fee income, taking total revenue for the international network to US$4.64 billion.
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RSM's fee income spikes
05 February 2016
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The firm announced fee income was up 10 per cent in the USA, 10 per cent in Europe (based on fee income in local currencies), 6 per cent in Middle East and North Africa, 1 per cent in Asia Pacific, and 9 per cent in Latin America.
Audit and accountancy fees increased by 4 per cent to US$2.27 billion, tax grew by 7 per cent to more than US$1.35 billion, and consulting/advisory was up 6.9 per cent to US$1.02 billion.
In announcing the result, the firm claimed it has now moved up one place in the global ranking (in terms of global fee income) and is now the 6th largest global network of independent audit, tax and consulting firms in the world.
Jean Stephens, chief executive office of RSM, said she is pleased by the result.
“We have had a very positive year and these figures indicate that RSM is going from strength to strength," she said.
In October last year, RSM member firms globally adopted the brand and trading name ‘RSM’ and according to the firm, the unified brand enables RSM to better communicate its strengths and global service capabilities.
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“Our unified brand is allowing us to focus on the needs of our clients even more, giving them the confidence to take their business forward.
“The worldwide rebrand was a huge success, and the network is energised by our shared purpose and vision for the future. I am looking forward to the exciting opportunities ahead and in continuing to expand globally under a single unified brand," she said.
During 2015, RSM appointed 11 new member and correspondent firms in Bangladesh, Belarus, Bosnia and Herzegovina, Colombia, Italy, Mali, Niger, Philippines, Sri Lanka, Tajikistan and Zimbabwe. RSM now comprises more than 38,000 staff working across 760 offices in 120 countries.
Looking forward, Ms Stephens said the prospects are bright for RSM with the network expected to continue its strong growth.
“The professional services industry will continue to be driven by changes in the business landscape. Middle market companies are likely to experience a rise in demand for services and products as advanced economies expand further.
“RSM members around the world will service and grow with clients who wish to expand their offering or size in order to compete in a more unified global economy. The need for greater cross-border collaboration is consequently vital for growth and survival in the current climate.”
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