RSM, which has offices in Newcastle, has announced a six per cent increase in global fee income, moving the brand up one place to become the sixth largest global network of independent audit, tax and consulting firms.
Fee income for RSM’s international network rose to $4.64bn for the financial year ending 31 December 2015. Turnover rose by 10 per cent in the USA, 10 per cent in Europe (based on fee income in local currencies), 6 per cent in the Middle East and North Africa, 1 per cent in Asia Pacific, and 9 per cent in Latin America.
Audit and accountancy fees increased by 4 per cent to $2.27bn, tax grew by 7 per cent to more than $1.35bn, and consulting/advisory was up 6.9 per cent to $1.02bn.
The UK firm, formerly known as Baker Tilly, adopted the RSM brand and trading name on 26 October last year as part of a co-ordinated global rebranding exercise in 120 countries.
Steve Railton, office managing partner at RSM in the North East said: “Our rise in the global ranking underlines the strength and depth of our international network. More local firms are looking for support to operate in an increasingly complex and changing global environment. Being able to draw on expertise from across RSM’s global network is proving to be invaluable for our local clients.’
During 2015, RSM appointed eleven new member and correspondent firms in Bangladesh, Belarus, Bosnia and Herzegovina, Colombia, Italy, Mali, Niger, Philippines, Sri Lanka, Tajikistan and Zimbabwe. RSM now comprises more than 38,000 staff working across more than 760 offices in over 120 countries.