Baker Tilly International has reported a 5%
increase in member firm revenues to $3.2bn in the year to 30 June
More than half of the firm’s revenues came
from audit and accounting services, which dropped 1% on the
previous year due to fee pressure and high competition levels.
The network has seen a 21% growth in advisory
services and 7% increase in tax.
In Asia Pacific, the network increased fee
income by 40% and Latin America grew 24%. North America
scraped through with a 1% increase and the EMEA region dropped 1%
as a result of the Eurozone crisis.
“There is no doubt that our results accurately
mirror the economic environment in which our clients are operating,
reflecting a two-tier recovery with different regions moving at
different speeds,” Baker Tilly International chief executive
Barnes said new challenges faced by clients
include difficulties in finding access to credit for privately-held
businesses and concerns related to succession planning.
“It is exactly areas like these where our
clients are increasingly turning to our member firms for advice and
guidance,” he said.
Baker Tilly International is the eighth
largest accounting network.
A full ranking of global networks and
associations will be revealed in the International Accounting
Bulletin World Survey this month.