EuraAudit International has broken its strategic alliance with UC&CS, which has restructured to form an independent global association, it has been revealed.
The decision “to terminate the long lasting strategic alliance with EuraAudit International was mutual,” as the associations each visualise a different future, UC&CS Global president of the world council Mauricio Mobarak told International Accounting Bulletin.
UC&CS currently has two firms: UC&CS America which is structured as a network and mainly operates in Latin America, and UC&CS Global which is an association by structure.
UC&CS Global has already signed strategic alliance agreements with a global association of groups of consultants AOTS Japan/WNF, a US Latino association of tax preparers LATAX, Spanish law firm Bonet and with a US audit and accounting group CPAsNET.
The joint revenue of the UC&CS Global is now estimated at $95million according to Mobarak.
The current revenue of UC&CS America is $15million, according to Mobarak.
The UC&CS America network has kept most of its firms with 27 out of the 40 signing a new contract with UC&CS America and 12 currently in the review stage.
US&CS is a new global player in the market, and according to Mobarak the firm is actively looking for new alliances and member firms around the world with emphasis on Asia and BRIC countries.