Team­work­the key­togrowth­for in­ter­na­tional play­er­inS­cot­land

The Herald Business - - Commercial Report -

TH E i n t e r n a t i o n a l a c c o u n t a n c y f i r m M a z a r s h a s b e e n punch­ing above its weight in all three of its tar­get mar­kets over the past year in Scot­land and has set its sights on dou­bling size in three to five years. The firm’s growth plans will en­able the firm to po­si­tion it­self as a vi­able al­ter­na­tive to the Big Four for au­dit­ing plcs and other ma­jor pub­lic in­ter­est en­ti­ties.

Peter Jib­son, man­ag­ing part­ner for Scot­land said the firm has long pushed the idea of joint au­dits in this mar­ket and the f ir m’s in­volve­ment in this area has been recog­nised by the UK cor­po­rate re­port­ing reg­u­la­tor, the Fi­nan­cial Re­port­ing Coun­cil.

The recog­ni­tion was demon­strated by the ap­point­ment of Mazars’ David Her­bi­net, the head of the firm’s “Pub­lic In­ter­est Mar­ket” di­vi­sion to the Mar­ket Par­tic­i­pants Group be­ing set up by the Coun­cil.

The group, which will look at the is­sue of choice in the au­dit mar­ket, con­sists of 12 mem­bers, only four of which are from au­dit firms with two places go­ing to big four ac­coun­tancy firms.

“It is great to have Mazars in that com­pany and it shows that our ef­forts to pro­mote joint au­dits are gain­ing some trac­tion,” Jib­son says. In ex­cess of 90% of the FTSE top 350 com­pa­nies have their au­dits car­ried out by one or other of the big four firms and there has been con­cern for some time that larger com­pa­nies are faced with too nar­row a choice when it comes to se­lect­ing their au­di­tors.

Mazars ar­gues that joint au­dits car­ried out by two firms can also bring a stronger de­gree of in­de­pen­dence to the au­dit. Mazars has won sev­eral im­por­tant joint au­dit con­tracts re­cently. As an in­ter­na­tional firm, with its par­ent firm in France, where joint au­dits are com­mon, Mazars is very com- fort­able with this way of work­ing. The firm has also been grow­ing strongly, both in its private client busi­ness, where it man­ages af­fairs for a large num­ber of high net worth in­di­vid­u­als, and in the owner man­aged sec­tor, which rep­re­sents far and away the bulk of Scot­land’s busi­nesses.

“There is a real buzz about the firm. We have grown strongly over the last six years, from un­der 30 staff and a sin­gle of­fice in Glas­gow, to of­fices in Ed­in­burgh and Glas­gow and a staff of around 130,” Jib­son says. “Rapid growth that is based on the en­thu­si­as­tic par­tic­i­pa­tion of staff at all lev­els within the firm, has been a tremen­dous as­set to the firm in the bat­tle to at­tract Scot­land’s best and bright­est re­cruits. We in­vite peo­ple to join us who want to make a dif­fer­ence and there is no bet­ter time to join Mazars as we ex­pand and em­brace new chal­lenges.

“We are all com­pet­ing with each other for the best tal­ent out there and peo­ple re­act best and en­joy them­selves most at work when the com­pany they are in is thriv­ing. This is the kind of at­mos­phere we strive for and good growth in all three of our cho­sen mar­kets is the best pos­si­ble re­ward for all of us,” he says.

Mazars in the UK was cre­ated in 1998, when the French firm merged with Neville Rus­sell, a long es­tab­lished prac­tice. In­ter­na­tion­ally, Mazars’ reach ex­tends to 100 coun­tries and has, at its heart, a unique sin­gle in­te­grated in­ter­na­tional part­ner­ship cov­er­ing 38 of those coun­tries. It is cur­rently ranked 11th in the UK au­dit league ta­bles by fee in­come and has 18 of­fices in Eng­land and Scot­land.

Fur­ther in­for­ma­tion from: Mazars Glas­gow: Tel: 0141 226 4924; Ed­in­burgh: 0131 313 7900

The in­for­ma­tion and views ex­pressed in the above re­port do not nec­es­sar­ily rep­re­sent those of The Her­ald.

Peter Jib­son says there is a “real buzz”

about the firm

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