MSI Growth Reported in 2012 AccountancyAge Survey of International Accountancy Networks & Associations
AccountancyAge Survey of Top 35 global accountancy networks and associations shows MSI Global Alliance positioned well in competitive market
The 2012 AccountancyAge survey of the top 35 international accounting networks, associations and firms, reveals MSI Global Alliance is growing steadily and providing clients with a valuable alternative to the larger international firms.
Positioned in 8th place among the global accounting associations, MSI Global Alliance reported a combined annual fee income in 2011 of US$1.39 billion, representing growth of 7%.
Through an active membership development program and targeted marketing campaigns, MSI successfully extended its accounting member firm coverage to five new countries in 2011 including Brazil, Jordan, Malaysia, Taiwan, and Tanzania. And the growth has continued in 2012, with MSI having already extended its reach to Malta, Montenegro and Norway.
The AccountancyAge report paints a much brigher picture of the international accounting landscape despite the economic woes of recent years. The top 35 international accountancy groups saw their total combined fee income rise by 8% in 2011, compared to just 2% in 2010. The publication attributes this growth to 'the need for solid business advice even during tough trading times' and to a 'focus on emerging markets that continue to grow while the mature economies struggle'.
The report makes clear the top heavy nature of the market, with the Big Four continuing to dominate. To emphasise the gap, the report points out that the fee income of nine of the mid-tier accounting networks would need to be combined to create one network equivalent in size to each one of the Big Four firms.
Competition among the smaller accounting networks and associations clearly remains tight, with some movement between them, some mergers taking place, and each vying for the attention of high quality indpendent firms that will enable them to extend their coverage further.
MSI Global Alliance's strategic development plan is ensuring the growth of the brand, retention of member firms, and increasing exposure to clients who are rethinking their approach to professional services procurement as they seek out greater value and more personalised solutions.
If you represent an independent accounting firm in a city or country where MSI does not currently have a member firm, please contact us for more information.
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