re-entered the Toronto market by admitting firm DMCT. Rebranded as
Collins Barrow Toronto, the new addition has 13 partners, 54
professionals and provides services in audit, tax and transaction
advisory services. DMCT adds revenues of about C$13 million ($13
million) and audits 47 public companies, making it a leading
mid-tier firm in Toronto.
Collins Barrow chairman Lionel Goldman said the association has
been seeking a Toronto firm for six months since previous member
Mintz & Partners joined Deloitte earlier this year. “DMCT
emerged as the strongest candidate among the many we met and were
interested in representing us in Toronto,” he said.
DMCT senior partner Harry Blum noted the firm preferred to join
an association rather than a network in order to retain its
independence and autonomy.
Blum said: “What we were planning was taking our existing
national and international affiliation and converting it to a model
that mirrored Collins Barrow’s approach. When we met with Collins
Barrow we observed that, for the most part, they had already built
the platform and it aligned perfectly with our needs.”
According to the International Accounting Bulletin,
Collins Barrow is the eighth largest accounting organisation with
fee income of about C$105.5 million in the year ending December
2007. It also had 468 professional staff across 37 offices and is a
partner of Praxity, the eighth largest global accountancy
Collins Barrow now has representation in Canada’s six most
populous provinces. The network is in “serious discussions” with a
firm in Saskatchewa, the next largest province without
representation. In addition, Collins Barrow is in the process of
launching a recruiting initiative in Quebec City.