• Register
Return to: Home > News > Tax > Praxity 2012: Revenue increase despite 23% drop for audit & accountancy

Praxity 2012: Revenue increase despite 23% drop for audit & accountancy

Association of firms Praxity saw revenue grow 3% year-on-year in full year 2012, despite suffering a 23% decrease in audit and assurance revenue over the same period. This service line accounts for almost 50% of Praxity's total revenue.

Nevertheless, the association's total revenue growth from $3.687bn in 2011 to $3.723bn in 2012 was driven by a strong increase in secondary service lines such as advisory services, especially in litigation support and corporate finance.

"Although this is a modest increase, when you take into account the market conditions and exchange rate fluctuations, this is a strong and solid performance," commented Praxity chairman Rick Anderson.

Praxity's best performing regions were Latin America (11% growth) and North America (5% growth), while business for member firms in Europe decreased by 5%.

Praxity's participant firm total grew from 69 to 62, following M&A activity, and representation went up from 2,500 partners in 84 countries to 2,768 in 95 countries, with the latest additions coming from Greece, Jordan and Kuwait.

 

Related links:

Praxity

Top Content

    The UK: uncertain waves rule Britannia

    he UK’s accountancy profession is currently in a period of much uncertainty. The Competition and Markets Authority (CMA) has released its review into the listed audit market which could cause the biggest shake-up the profession has seen in years, the Kingman Review has described the Financial Reporting Council (FRC) as not being fit for purpose and called for it to be replaced. All the while the country remains in a deadlock on Brexit negotiations.

    read more

    Views from the Eurozone

    With Brexit looming, populist governments gaining footholds in a number of countries and movements such as the Yellow Jacket protests in France, 2018 was anything but a quite year for the eurozone. Here leaders report to the IAB on their markets.

    read more

    Eastern promise and how to find it

    With China rising as a global power, Jonathan Minter spoke with ShineWing’s Zhang Ke and Marco Carlei at the World Congress of Accountants 2018 in Sydney, to discuss the cultural challenges that occur when Chinese networks look beyond their border, and the dividends available for those who overcome them.

    read more

    Spain: looking to widen demand

    As Spanish accounting professionals prepare for new audit regulations, the Paul Golden asks what they need to do individually and at firm level to maintain and increase demand for their services.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.