Mazars posts impressive 2019/2020 result, reaffirms commitment to shaping healthier audit industry
Mazars, an international audit, tax and advisory firm, has released a financial statement for the 2019/2020 financial year (1 September 2019 – 31 August 2020), with revenue increasing by 7.8 percent to €1.9 billion, compared to the previous financial year.
The increase in fee income comprises strong organic growth percent, complemented by positive external growth of 1.80 percent.
Commenting on the firm’s financial performance, Hervé Hélias, CEO and Chairman of Mazars Group said with the firm’s focus on keeping people safe and delivering top quality services to clients, Mazars has shown remarkable resilience in achieving 7.8% growth, most of it organic. Our people’s remarkable efforts to continue serving our clients and carry out their assignments enabled us to do more than just weather the storm in 2020.” he said
Keeping a long-term perspective: strategic plan for the next four-years.
Despite the crisis, Mazars continued to invest and plan for its future. Over 1,100 partners recently voted to approve the new strategic plan, ‘One24’, a title recognising the uniqueness of Mazars’ united partnership model.
The plan articulates the group’s roadmap for the next four years, capitalising on Mazars’ strengths and distinctive attributes: quality services, cross-border operational integration, international consistency, dedication and care for clients and teams.
The new plan seeks to continue the group’s transformation and to secure Mazars’ position as an international audit, tax and advisory leader, by continuously improving talent and client experience and innovating services and ways to work.
Over the coming four-year period the firm will continue to focus on its priorities: client-centricity, quality and risk management, international growth, operational integration, talent development, and contributing to building a fair and prosperous world.
Looking ahead Hélias says: “The pandemic and related economic crisis certainly bring a challenging period, but the firm is looking beyond that, investing in its business and people to deliver clients’ needs and what they expect. We have set a strategy that both secures our place in the market and continues to create the firm of the future, ensuring we attract and grow outstanding talent, deliver high-quality experiences to our clients of all types, and above all, build confidence and trust by acting responsibly.”
A renewed, diverse leadership team to implement a strategic plan.
To support the One24 programme, Mazars has reviewed and reinforced its governance structure, which comprises the Group Executive Board (GEB)1 and Group Governance Council (GGC)2.
The new governance team was elected during the firm’s virtual partner conference in December 2020.
Of the 23 elected members in the GEB and GGC, 10 are female: this means 44 percent of Mazars’ governance positions are held by women, representing strong gender diversity in the firm’s leadership.
Hervé Hélias was re-elected as chairman of the GEB and two new members were elected: Mark Kennedy, managing partner in Ireland since 2016 and Julie Laulusa, comanaging partner in China since 2010.
Laulusa and Kennedy join nine other re-elected GEB members: Hervé Hélias, Pascal Jauffret, Rudi Lang, Taibou Mbaye, Christoph Regierer, Veronique Ryckaert, Ton Tuinier, Phil Verity and Victor Wahba. Antonio Bover steps down after three terms (12 years) and Wenxian Shi transitions from member to a permanent invitee.
The GGC now comprises Asa Andersson Eneberg, Gertrud Bergmann, Maria Cabodevilla, Frank
Bournois, Kathryn Byrne, Juliette Decoux, Fabrice Demarigny, Denise Fletcher, Chris Fuggle, Tim Hudson (Chair), Michelle Olckers and Liwen Zhang.
“Having a long-term perspective is critical, as is having the right team to execute our strategy. As we look to implement our four-year plan, we have evolved our governance team to ensure it has the right leaders with a diversity of backgrounds and styles, to make our strategy happen” says Hélias.