Mazars said Tuesday that it recorded growth of 16.4% in fiscal year 2021-2022 in its international network of audit, tax and advisory firms, reaching €2.45 billion ($2.6 billion) in total fee income.
The audit side grew 15.5%, while the consulting practice grew 9.6%. Financial advisory services saw a 29.7% increase, while legal services experienced 18.6% growth. The outsourcing business grew 14.3%, while the tax practice grew 15.9%.
The Americas region grew 22.4%, Europe 14.6%, Asia-Pacific 17.1%, and the Africa and Middle East region 21.7%. The U.S. business, Mazars USA, grew by 12% in fiscal 2022. The Mazars network expanded to six new countries: Bosnia and Herzegovina, Burkina Faso, Latvia, Lithuania, North Macedonia, and Zimbabwe.
"2022 was an eventful year that tested the agility of companies everywhere," said Mazars Group CEO and chairman Hervé Hélias in a statement. "These disruptions, coming on top of longer-term trends including digitization and sustainability, can be challenging, but they also offer vast opportunities to grow, develop and explore new ways to create value."
Growth in the U.S. spanned a number of sectors and service lines, including several tax specialties; risk and cybersecurity; transaction services; and audit services. Mazars also launched ESG as a new service offering to help clients develop and implement sustainability strategies and business models. The acquisition last December of
"Our revenue growth in 2022 demonstrates how we effectively delivered against our strategic plans by providing high-quality solutions across our service lines and sectors in key U.S. markets," said Mazars US chairman and CEO Victor Wahba, in a statement. "We made significant investments improving our technology and growing our teams to support the dynamic, ever-evolving needs of our clients. We will continue to invest in the professional development of our people, digitization, and technology to ensure continued and sustainable future growth."
