Global deal boosts local growth for national accounting firm.

1 min read

Forvis, a national accounting firm, has formed a new network with French accounting giant Mazars Group. The deal, which becomes official in June, gives Forvis an international presence and significantly grows Mazars’ presence in the U.S. While Mazars does not have a local office or significant employee base in Houston, Forvis’ local leader, Brian West, believes the deal will help the firm continue its rapid growth in the city. Houston has been a leader in Forvis’ growth, with the office on track to grow revenue by 15% annually.

Key points from the article:

  • Forvis’ new network with Mazars will help accelerate growth at the company’s Houston office
  • The deal gives Forvis an international presence and significantly grows Mazars’ presence in the U.S.
  • The new network won’t directly affect Forvis’ Houston operations, but will support its continued rapid growth in the city
  • Forvis’ Houston office has been a leader in the firm’s growth, with revenue expected to grow by 15% annually

According to Brian West, the Houston managing partner for Forvis, the firm’s local headcount has grown by about 20% for two consecutive years to about 230 employees. The Houston office has been able to achieve this growth through the addition of quality teams over the last five years. Additionally, the firm has invested heavily in growing its headcount to support revenue growth, especially considering trends that indicate a declining accounting workforce. Forvis has added about 50 jobs locally for interns and part-time employees over the past two years to support recruitment efforts.

The network with Mazars is expected to take recruiting “to the next level” by adding an international presence and additional consulting groups for Forvis. This will provide potential future employees with more opportunities within the firm. Once the deal is finalized, Forvis believes there will be nothing that the firm’s employees want to do that they can’t do within the company.

Additionally, the deal with Mazars will help Forvis better serve its clients, particularly in an international business hub like Houston. The formalized relationship with Mazars means that Forvis’ clients will have direct access to employees with specialties in international tax and audit. Even for clients not directly involved in international tax or audit, the network will provide access to additional technology, people, and processes.

In terms of growth, Forvis’ Houston office is matching, if not outpacing, the firm’s national growth. The firm’s revenue grew to over $1.68 billion for the fiscal year ending May 31, 2023, with a YoY increase of more than 13%. The headcount of the company also grew by about 10% over the same period. The deal with Mazars is expected to support and accelerate this growth in the Houston office.

Previous Story

No radical changes to accounting partnership model, RSM remains firm.

Next Story

Join ICAI’s Course: Uncover Fraud & Master Forensic Accounting!

Latest from News