Companies news
Mazars releases its 2019/20 Annual Report
Mazars, announces revenues of €1.9 billion in its 2019/2020 financial year representing a 7.8% increase compared to the previous financial year.
Mazars is looking ahead to next four-year strategy with a renewed, diverse governance, thus reaffirming the importance of shaping the transformation of the audit profession.
Commenting on the firm’s financial performance, Hervé Hélias, CEO and Chairman of Mazars Group says:
“For people, businesses and society, 2020 has been a year like no other. Amid a global pandemic, with our focus on keeping our people safe and continuing to deliver top quality services to our clients, Mazars has shown remarkable resilience 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.”
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. 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 we are looking beyond that, investing in our organisation and in our people to deliver what our clients need and what they expect from us. 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 in a responsible way.”
To support the One24 programme, Mazars has reviewed and reinforced its governance structure, which comprises the Group Executive Board (GEB) and Group Governance Council (GGC). 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% 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, Co-Managing Partner in China since 2010.
“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.
In 2020 Mazars welcomed 78 new international partners from 30 countries. The new partners represent varied areas of services - audit (54%), tax (17%) and outsourcing (12%) – as well as regional diversity. Committed to bringing a different perspective and shaping a healthier audit industry, Mazars launched its new brand identity in October 2020. The rebrand celebrates how Mazars has transformed without compromising its culture, values or unique business model and how it brings choice and a different perspective to the audit, tax and advisory market.
Source: Mazars
