Breaking News

Horwath Continues its Number 9 Ranking

The International Accounting Bulletin (IAB) network ranking was published recently, and Horwath International continues to be in the number nine position among global accounting networks in 2008. The IAB has listed Horwath International in its survey of international networks with total revenue of US$2,895 million and a growth rate of 19% over the prior year.

The IAB survey also provides the following statistics about the Horwath International network:

The 2008 revenue split was:

accounting and assurance: 54%
tax services: 21%
management consulting 11%
corporate finance: 2%
corporate recovery/insolvency: 1%
other: 11%
Total partners: 3,324
Total staff (including partners): 26,250
Number of offices: 558

Horwath Comes Up Tops Again in Asia Pacific

Horwath has been ranked number five among international networks in Asia Pacific in 2006 for the second year - and is the top mid-tier organization after the Big Four.

The July 25 issue of the International Accounting Bulletin ranked Horwath ahead of BDO, SC International and Grant Thornton. The IAB noted that Horwath topped the mid-tier with overall fee income of US $285.7 million.

The publication quoted regional executive Mok Yuen Lok as saying: "Generally, key Horwath firms continue to register good growth numbers, led by the strength of China, India and surging economies that continue to show high GDP growth rates in excess of seven percent." Yuen Lok cited increased merger and acquisition activity and greater use of technology as factors contributing to the success of member firms, and he referenced a climate of over-regulation as a key challenge.