Transparency Report 2015/2016

Specializing in audit, advisory, accountancy, tax and legal services, Mazars is a leading integrated and independent organization whose international dimensions are expanding every year. As of August 31, 2016, Mazars is present in 77 integrated countries around the world. From January 1st, 2016 Mazars has integrated the Chinese firm Zong Shen Zong Huan. Their Pro-forma contribution to group revenue is 43M€ leading to total revenue of €1,365M and staff number of 17,000. Group revenue has increased by 5.5% at a constant exchange rate.

During the reporting period, the Malta firm has achieved an 18.7% growth in fee income to €2.290m reflecting the continued growth of the firm due to consistently providing quality service to our clients.

As a global partnership, we proudly work alongside the dominant players, acting as group auditors to some of the largest companies in the world. Fostering transparency and building public trust is thus at the very heart of our business. And we don't just pay lip service to these ideas: we voluntarily demonstrate the same level of transparency required of our publicly listed clients in the audited, consolidated group accounts that we have published since 2004 - the only international firm to do so.

In Malta, audit still represents the highest proportion of fee income and the largest number of staff of any of our service lines, even though we are seeing substantial growth in both tax and business advisory. We have always placed huge importance on maintaining the highest possible standards of audit quality in the firm, and in the last year have continued to make significant investments to support this commitment.

The audit profession and the regulatory and competitive landscape in which it operates is experiencing a once-in-a-generation period of change. The forces of audit reform, at a European and local level, and the increasing scrutiny rightfully being placed on auditors from wider society means we can't just stand still.

As a firm, we have a strong history of active participation in the debates underpinning these changes and remain dedicated to contributing constructively to the development of the modern profession and the society it serves.