18th September 2015
MGI is Africa’s fourth-largest accounting association, according to latest analysis of fee and staff data by the International Accounting Bulletin (IAB).
With members in a diverse range of countries from South Africa to Ghana, income for MGI firms in Africa topped $9.6 million to the year ending June 2014.
Arthur Baguley, partner at MGI Bass Gordon GHF in Cape Town, commented: “MGI has a stable African fee and staff base. There are requirements to acquire new firms and hopefully this will be achieved in the New Year.”
The IAB report noted that while there are challenges facing accounting and audit firms in Africa, there are also plenty of opportunities are economic growth picks up.
“This has led to increasing spending power of the African population and a burgeoning middle class, which is supportive of corporate earnings,” adds Mr Baguley, who is also the International Committee Member representing MGI in Africa.
“Where there has been improved governance and political stability, this has set the tone for future wealth creation and business growth.”
Mr Baguley also believes that accounting firms can play a stronger role in bolstering business growth.
High standards in the accounting and auditing profession helps increase corporate governance, which in turn will lead to improved investor confidence, he explained.
To learn more about MGI’s African firms, head to the MGI Africa Members Directory.
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