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Reanda International aggregate fee income up 7% to US$191 million in 2017

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Wednesday, 21 February 2018 02:15

Reanda International is pleased to announce that our total aggregate fee income for the year ending 31 December reached US$191 million, representing a year on year growth of 7%. According to the 2017 World Survey released by International Accounting Bulletin(IAB) in February 2018, Reanda International has moved up one place to number 24 in the league table.

This continuing success stems from our strategic expansion plan. With new member firms admitted across most regions, combined with an ongoing organic growth, have brought us tangible growth in fee income: Middle East +112%, Europe +21%, Asia Pacific +3%. Meanwhile, our network firms remain resilience against the volatile global economic market for which demonstrated by outstanding growth led by network firms in Nepal (+74%), Cyprus (+37%), Germany (+19%), Hong Kong (+10%) and China (+4%).

New firms joining Reanda International last year increased our global presence to 30 territories. Our global workforce increased by 24% bringing together a total of 208 partners and 3,500 staff working across 120 offices. We welcomed our new network firms from Pakistan, Turkey, Italy, Greece, Romania and Portugal bringing new people and expertise to the Reanda network.

Our service line fee shares remain similar to previous years across the network despite a remarkable increase in the revenue of tax and advisory services rising up by 14% and 10% respectively due to our strategy in sourcing additional revenues from non-audit professional services.

Reanda International’s goal going in 2018 is to continuously work on to become a truly global network by further establishing its footprint across all continents while strengthening the Reanda brand internationally and providing more invaluable resources for our members.