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October’s edition of the IAB features contributions from MGI Worldwide CPAAI members in Argentina and Mexico and once again, it’s good news from these countries!

9th November 2020

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A number of our global accountancy network members have, once again, been featured in the latest (October) edition of the International Accounting Bulletin (IAB).

Regulatory changes in Argentina

Partners Luis Uncal and Rafael Faillace from MGI Jebsen & Co., in Buenos Aires, contributed to an article which looks at the complexity of Argentina’s tax system and how this requires considerable compliance efforts both from accountants and their clients. Luis explaines that “although IAS 701 Revised has been effective since 15 December 2016, in the case of Argentina it becomes mandatory for financial statements corresponding to listed companies for the financial year ending 15 December 2020.” Rafael goes on to talk about the increased demand being faced by services relating to payroll, from companies that are restructuring their internal processes and departments, adding that “we are also seeing strong demand for BPO services in accounting and tax advice.”

The effect of coronavirus on the accounting sector in Mexico

José Ángel Triztán, partner at our Mexico firm, MGI Zavala Gutiérrez y Cia, comments on the impact that the pandemic has had on businesses in Mexico, explaining that “due to the almost non-existent growth of the Mexican economy before the pandemic, the accounting sector was already under pressure” and goes on to explain that “Some sectors have had to temporarily close their doors or had limitations placed on their reopening, which has had a strong economic impact.” José Ángel concludes by explaining how his firm offers support for clients to help them comply with the guidelines and protocols set by the Secretary of Health.

MGI Worldwide CPAAI continues to thrive in the Latin America region 

The IAB has published its rankings for the Latin America region and we are delighted to confirm that MGI Worldwide CPAAI is once again named in the top accounting associations across all countries where our member firms have an active presence. 

In Argentina, thanks to our two member firms MGI Jebsen & Co. and Casal, Vecchi, Rodriguez Spuch y Asoc. SRL, MGI Worldwide CPAAI ranks in 5th position in terms of total fee income/growth and 4th position in relation to staff data. Our 12 member firms in Mexico hold 6th position for the top international accountancy associations in the country in terms of both fee income and staff data, whilst in Peru, where we are represented by MGI Gutiérrez Ríos y Asociados S. Civil de R.L. and Ramirez, Saco y Asociados S. Civil de R.L we also hold 6th position for both fee income and staff data.

MGI Worldwide CPAAI would like to offer a big congratulations to all our member firms in Argentina, Mexico and Peru!

To read October’s edition of the IAB, as well as past issues, log in to the Member Area of the website and click on Key International Organisations at the bottom of the left-hand menu.

MGI Latin America is part of MGI Worldwide with CPAAI, a top 20 ranked global accounting network and association with almost 10,000 professionals, accountants and tax experts in some 460 locations in almost 100 countries around the world.

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