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Reanda International aggregate fee income grows 8% with partners and staff up 9%


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Wednesday, 22 February 2017 02:30


Reanda International is pleased to announce that the aggregate fee income of all network firms reached USD178.6 million for the year 2016, a year-on-year increase of 8%. According to the International Accounting Bulletin (IAB) World Survey 2016 published in February 2017, Reanda International Network is ranked number 25 in the world ranking of accounting networks. Please find attached the report in PDF format for your reference.

Despite very challenging global market dynamics, our network firms demonstrated outstanding performance with sustained growth across all regions, of which spearheaded by network firms in Germany (+52.4%), Korea (+48.7%) and Japan (+17%). In addition to the organic growth and successful mergers and acquisitions strategy, the tangible growth in fee income was attributed to the joining of new member firms in UK, Malta and Nepal.

In 2016, Reanda International’s international presence has expanded to 25 territories with global workforce increased by 9%, bringing together a total of 175 partners and 2,865 staff working across 104 offices.

While Reanda International continued to source additional revenues from non-audit professional services, in 2016 we saw a significant increase in the revenue of tax and advisory services rising up by 27.4% and 51.6% respectively. The fee income contributions from audit and accounting services were further diluted to 40.8% from last year’s 46%.
Reanda International’s goal going into 2017 is to continuously work on to become a truly global network by further establishing presence in Europe, Middle East and Africa while strengthening the Reanda brand internationally and providing more invaluable resources for our members.

 


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