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RSM announces growth across every business line in 2017

30/ 01/ 2018
  RSM, the sixth largest network of independent tax, audit, and consulting firms, delivered growth across every business line in 2017. RSM also increases global revenue to over $5bn and saw global expansion, moving into eight new countries. Solid international expertise The expansion reflects RSM’s objective to help middle market businesses fulfil their global ambitions. The growth of each service line at RSM demonstrates its solid international expertise. Audit and accounting is RSM’s strongest service line, with total revenue of $2.5bn. Tax advisory delivered a particularly strong growth of 5.7%, fuelled mainly by clients wanting to navigate complex tax rules and regulations. RSM’s consulting service line grew by 3.8%, with the strongest performance in MENA with a rise of 30.0%. Other services amount to US$111m, and include the recent introduction of significant legal services across several RSM firms. Strong and expanding geography RSM also grew in some of its geographical regions, increased its workforce and promoted new partners in 2017. RSM Canada joined the network in December last year. Asia Pacific, Europe, and MENA all grew steadily and, in total, RSM expanded into eight countries: Bulgaria, Cambodia, Canada, Costa Rica, Guinea, Malawi, Mozambique, and Senegal. The mergers and acquisitions, which took place across Europe, increased the client service scale and expertise in these geographies. Commenting on 2017 and the year ahead, Jean Stephens, CEO, RSM International said: “RSM’s long-term commitment is to be the adviser of choice to middle market businesses around the world. We are responding to changing business conditions and adapting our services to help businesses meet the challenges they face, including GDPR, Brexit, NAFTA, VAT in the Gulf region, and transparency in Africa - to name just a few. The coming year brings with it the promise of even further disruption; from the re-drafting of international tax and data regulations to the introduction of emerging technologies, digital innovations, and the growth in the ‘gig economy’. Traditional business models are no longer going to suffice. The rapid advance of technology also brings risk. High-profile breaches during 2017 raised global awareness of the scale and consequences of cybersecurity threats. This led to our members seeing an increased global demand from within the middle market for risk and consulting expertise to help them prepare for and combat potential disruption to their businesses. On the other hand, in the pursuit of efficient and profitable business strategies, clients are turning to advanced technology solutions such as robotic automation and AI to gain that critical competitor advantage. Currently, these technologies are most advanced in use within the financial services sector, but we expect that they will also fundamentally change our profession and how we serve our clients in the near and longer term. In summary, a shifting political landscape, the risk and opportunity from new technologies, and an unpredictable economic climate set the scene for 2018. Coming off the back of a very strong year, we look forward to forging ahead and helping our clients embrace this new digital and data-driven world.”

RSM, the sixth largest network of independent tax, audit, and consulting firms, delivered growth across every business line in 2017.

RSM also increases global revenue to over $5bn and saw global expansion, moving into eight new countries.

Solid international expertise

The expansion reflects RSM’s objective to help middle market businesses fulfil their global ambitions.

The growth of each service line at RSM demonstrates its solid international expertise.

  • Audit and accounting is RSM’s strongest service line, with total revenue of $2.5bn.
  • Tax advisory delivered a particularly strong growth of 5.7%, fuelled mainly by clients wanting to navigate complex tax rules and regulations.
  • RSM’s consulting service line grew by 3.8%, with the strongest performance in MENA with a rise of 30.0%.
  • Other services amount to US$111m, and include the recent introduction of significant legal services across several RSM firms.

Strong and expanding geography

RSM also grew in some of its geographical regions, increased its workforce and promoted new partners in 2017.

RSM Canada joined the network in December last year. Asia Pacific, Europe, and MENA all grew steadily and, in total, RSM expanded into eight countries: Bulgaria, Cambodia, Canada, Costa Rica, Guinea, Malawi, Mozambique, and Senegal.

The mergers and acquisitions, which took place across Europe, increased the client service scale and expertise in these geographies.

Commenting on 2017 and the year ahead, Jean Stephens, CEO, RSM International said:

“RSM’s long-term commitment is to be the adviser of choice to middle market businesses around the world. We are responding to changing business conditions and adapting our services to help businesses meet the challenges they face, including GDPR, Brexit, NAFTA, VAT in the Gulf region, and transparency in Africa – to name just a few.

The coming year brings with it the promise of even further disruption; from the re-drafting of international tax and data regulations to the introduction of emerging technologies, digital innovations, and the growth in the ‘gig economy’. Traditional business models are no longer going to suffice.

The rapid advance of technology also brings risk. High-profile breaches during 2017 raised global awareness of the scale and consequences of cybersecurity threats. This led to our members seeing an increased global demand from within the middle market for risk and consulting expertise to help them prepare for and combat potential disruption to their businesses.

On the other hand, in the pursuit of efficient and profitable business strategies, clients are turning to advanced technology solutions such as robotic automation and AI to gain that critical competitor advantage. Currently, these technologies are most advanced in use within the financial services sector, but we expect that they will also fundamentally change our profession and how we serve our clients in the near and longer term.

In summary, a shifting political landscape, the risk and opportunity from new technologies, and an unpredictable economic climate set the scene for 2018. Coming off the back of a very strong year, we look forward to forging ahead and helping our clients embrace this new digital and data-driven world.”

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