Praxity has set up a series of working and special interest
groups in order to improve collaboration between members. Firm
representatives recently took part in technical and
special-interest working group meetings at Praxity’s second annual
meeting in Paris.

Working groups formed on technical issues, including the IFRS/US
GAAP convergence project and international tax. Delegates also
established special interest groups on sectors such as automotive,
real estate and manufacturing.

The aim of these groups is to improve communication channels
globally, including the sharing of best practices.

Praxity management board and governing council vice-chair Jos
van Huut stressed that the working groups were focused on business
and client development, and not on bringing firms together in an
operational sense. Praxity has a very strict policy of member firm

“The alliance is there to see how we can develop our services
and so on in the global environment. We are not seeking close
co-operation to develop common work methods, manuals or
methodologies. That is done by each member firm itself,” he

“Each of our firms has their own business units that focus on
particular services, or a sector, or a combination of the two. The
alliance, going forward, will bring those people together and we
have set up how we can do that. We have set up best practices or
code of conducts on how these working groups can organise
themselves in an efficient way.”

Most Praxity members, with the notable exception of Mazars,
operate as large domestic players. van Huut says it is his vision
that some of the larger Praxity members should expand their brands

Praxity is poised to report combined global revenue growth of
between 10 to 12 percent for the financial year ending in 2008, van
Huut added. The alliance was the largest association of independent
firms in last year’s International Accounting Bulletin
world survey with fee income of $2.8 billion. Praxity has added new
members in Germany and Sweden recently.

Arvind Hickman