28th July 2016
MGI Worldwide retains its position in the Top 20 global accounting networks, securing 16th place in the World according to Accountancy Age's latest annual rankings.
With some 5,000 professionals and representation across 76 countries around the world, MGI Worldwide maintained a healthy position among the top 20 international accounting networks with a combined annual total income of $489 million.
MGI Worldwide's CEO, Clive Bennett, comments “We are delighted to have retained our position among the top 20 accountancy networks. With a history spanning nearly 70 years, we are very proud to be one of the longest standing networks of our kind. We are continually committed to strengthening connections among member firms and improving quality.”
Overall, Accountancy Age reported that the top 20 networks, which include the big four firms, aggregated $160.3 billion in fees, up 1.6 per cent from the previous year. Network mergers were a talking point in this year's Accountancy Age global rankings report. Clive Bennett was quoted as saying “Mergers are hardly a new phenomenon. For example, PWC formed in 1998, while Praxity, Nexia and Prime Global were created in 2006, 2007 and 2011, respectively. The key factor now is the increase in recent years in consolidation among member firms in the US, Europe and other markets. Newly combined firms have to choose between the two associations of which the separate firms were members."
This situation arose last year when Baker Tilly acquired Tenon. Ultimately, Baker Tilly chose to join RSM, Tenon's network, before changing its name to RSM in the UK.
To see Accountancy Age's full rankings of the top accounting networks and associations, please click here.
MGI Worldwide is a Top 20 ranked international accounting network of independent audit, tax, accounting and consulting firms with some 5,000 professionals in 260 locations across 76 countries worldwide.