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‘Standout’ local result propels Mazars to double-digit growth

Business

The Australian operation was boosted by a surge in demand for sustainability services and consulting, the firm says.

By Philip King 12 minute read

Mazars Australia outpaced its global firm with revenue growth of more than 17 per cent in 2022–23, pushing the overall result up 13 per cent for a third straight year of double-digit growth.

Global revenue of €2.8 billion ($4.6 billion) included $71.7 million from the Australian operation, Mazars said, with its revenue split of 43 per cent audit and 57 per cent non-audit emphasising “the balance and strength of the firm’s multidisciplinary strategy”.

The firm said Australia’s “standout” +17.4 per cent performance – ahead of growth in Europe (+15.3 per cent) and just behind North America (+21.4 per cent) had been a key contributor to global expansion.

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Mazars Group chairman Hervé Hélias said this year’s result demonstrated the strength of the firm’s integrated partnership model and the “quality of our multidisciplinary offering”.

“Building resilience has been important off the back of an eventful year in which organisations continued to be tested,” he said. “While it’s been a demanding environment, we have invested purposefully to support international growth and I’m pleased that this has remained strong.”

Mazars managing partner in Sydney, Matthew Ashley, said the firm expanded across all service sectors including tax, financial advisory, HR and IR consulting, sustainability, and risk consulting.

“The consistent double-digit expansion of our service lines for the third consecutive year underscores our strategic focus and acknowledges the mounting challenges our clients face globally,” he said.

“Notably, our sustainability and consulting services have seen the most rapid growth globally, at 71 per cent and 21.3 per cent respectively.”

“The surge in demand for sustainability services, a trend well established in Europe and other parts of the world, is now reaching Australia, reflecting the growing priorities of our local clients.

“In response to this evolving landscape, we have strategically invested in specialised teams and innovative tools, such as carbon footprint assessments, which draw on academic expertise to help our clients stay ahead of the regulatory curve and reporting requirements.”

The firm’s results follow plans revealed last year to create a new top 10 global network in June with US accounting firm Forvis. Mazars also recently announced new offices in Finland, Panama and Togo, while in Melbourne last year it relocated to the CBD.

Mr Hélias said: “We understand the challenges our clients face now and looking ahead in the realms of international compliance, financial and non-financial reporting imperatives, and information systems security, and we are set to support businesses to achieve their ambitions.”

Mazars operates in over 100 countries and territories globally, employing 33,000 directly and 17,000 via the Mazars North America Alliance.

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Philip King

Philip King

AUTHOR

Philip King is editor of Accountants Daily and SMSF Adviser, the leading sources of news, insight, and educational content for professionals in the accounting and SMSF sectors.

Philip joined the titles in March 2022 and brings extensive experience from a variety of roles at The Australian national broadsheet daily, most recently as motoring editor. His background also takes in spells on diverse consumer and trade magazines.

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