30th December 2019
The news that MGI Worldwide and CPAAI are merging on January 1st has sparked excitement amongst the accounting industry. Joining forces will make the network even stronger, offering member firms greater access to resources, expertise and services, along with even greater brand recognition.
Prominent coverage as news of the merger spreads!
The International Accounting Bulletin (IAB) is one of the numerous industry publications interested in the merger and chose to lead with it in their November edition. As the first main article following the editor’s letter, the IAB shared our excitement for the merger and published quotes from both MGI Worldwide CEO Clive Viegas Bennett and CPAAI president Michael Parness.
Clive explained his reason for being excited about the merger: “This merger greatly strengthens the already solid market positions of both organisations and the resources for our member firms, with access to more business opportunities, wider geographical scope, and significant knowledge and technology exchange”, and Michael added: “Our organisation and MGI Worldwide have a lot of shared values, a similar client base, and business DNA, so this merger makes sense in a world that is becoming ever more interconnected.”
Member firms featured elsewhere in the publication
November was a fantastic month for coverage of member news, with another large feature article discussing the steps being taken to reduce tax evasion in Italy, through the focus on electronic invoicing.
Lutz Spitaler, partner at MGI Worldwide member firm Spitaler Frei & Partner commented that “the business has moved from collecting invoices and booking them, to an approach where it is more important to have the client-supplier database properly customised” and Dario Galloni, Partner at MGI De Leone – Triunfo – Galloni & Associati added that “Accounting firms have had to invest heavily in training their employees so that they could then train the firms’ clients, and most have decided to offer their clients dedicated IT platforms to manage the e-invoicing process.” The article also included a commentary from MGI Studio Pragma partner Francesco Bartolucci who shared his sentiment that “accounting firms in Italy need to adapt quickly to digital transformation by investing in new technology and developing digital solutions to automate and streamline business processes.”
MGI Worldwide in Italy
Our member firms in Italy have clearly been successful with their approach, as the figures for the past 12 months highlighted. MGI Worldwide is ranked in 18th position in Italy in terms of fee income, showing an increase from 3.4 to 3.5 million Euros. The network also came 18th among Italy’s top accounting networks in relation to their staff data, with a total of 44 staff members.
MGI Worldwide elsewhere in the EU
In France MGI Worldwide is ranked in 15th position in terms of fee income over the past 12-months and 15th in relation to their staff data, with a total of 541 staff members. Germany is also performing well, holding 18th position in fee income and ranking in 16th position in terms of staff numbers. In the Netherlands, MGI Worldwide places 16th in terms of fee income and registering a 10% growth during the past 12 months. The network ranks 21st for its staff data.
We would like to offer our congratulations to our member firms in Italy and across the EU for their fantastic rankings in their respective countries.
MGI Worldwide, a top 20 ranked global accounting network with some 5,400 independent auditors, accountants and tax experts in over 290 locations around the world.