Mazars books 25% growth in Singapore to eclipse $30 million

06 March 2023 1 min. read

The Singapore member firm of Mazars looks back at one of its best years in history, recording 25% growth in its latest financial year to eclipse the S$30 million revenue barrier.

Hot on the heels of Mazars announcing its record global results, with fee income up 16% to €2.5 billion, Mazars Singapore has followed suit with results that are even brighter.

The local wing booked double digit growth across all its four services lines in its broken 2021/2022 financial year, with Audit (+27% growth) and Consulting (+43%) the star performers. Tax and Outsourcing grew by +18% and +23% respectively.

Mazars books 25% growth in Singapore to eclipse $30 million

“In spite of economic headwinds, we enjoyed a landmark year,” said Rick Chan, Managing Partner of Mazars in Singapore. “Our robust performance is underpinned by the hard work of Mazarians and our increasing focus on technology and quality.”

The financial services practice was among the to performing industry verticals, notably winning a major banking account from a Big Four firm (a so-called qualifying full bank) and seeing strong demand for its services from fintech companies.

Looking ahead, Chan said that the firm looks into 2023 with confidence: “We are confident in our ability to build on our momentum to step up our competitive growth and soar to new heights in 2023.”

Notably, technology, audit quality, sustainability, and diversity & inclusion will remain key areas of investment focus for the Singapore wing, aligned to the company’s global strategy.

Mazars operates in around 95 countries territories around the world. In 2022, the accounting and audit giant added a presence in six new markets: Bosnia and Herzegovina, Burkina Faso, Latvia, Lithuania, North Macedonia and Zimbabwe.