Mazars announces 13 per cent income boost across north of England

The figures come as Mazars announces its financial results for the year ending August 2023, which also show the third consecutive year of double-digit growth for the firm across the UK, with a 16 per cent increase in revenue and 7 per cent increase in profit.

The firm’s Leeds office has also grown several of its services, including tech and digital (particularly cyber security), and advisory and consulting, working with both privately owned businesses as well as public sector clients.

During the year, Natalie Wright was appointed Leeds office managing partner, while Andrew Jones also joined as an audit partner in the financial services team, which has expanded in the last year.

Commenting on the firm’s growth and successes in Leeds, Ms Wright said: “It’s been an exceptional year for Mazars and we are thrilled to have played our part in the Leeds office.

“We’ve experienced significant growth across the business and are particularly proud of the opportunities we’ve given to those in the early stages of their career.”

In recognition of the team’s success, Mazars was named Mid Tier firm of the year at this year’s Yorkshire Accountancy Awards.

This follows Jack Sunter winning Rising Star of the Year and the team winning the Diversity and Inclusion award in 2023.

The team has also contributed to the Leeds community, establishing connections with local schools and universities, fundraising for a number of charities including Simon on the Streets as well as volunteering in the area for IntoUniversity and Young Enterprise.

Speaking on the firm’s national results, Mazars CEO, Phil Verity, said: “Despite a less buoyant economy in the past year and a competitive marketplace, our strategy to invest in talent has enabled our business to deliver double digit growth this year.”

Across the UK, Mazars has increased spending on its staff by 23 per cent, to £189.3m.

The firm grew its team by 18 per cent to 3,273, and increased bonuses by 16 per cent.

Recruitment has also taken place at all levels within the company, including the appointment of 13 new partners, eight of whom have been promoted from within the firm, while a record numbers of trainees, 421, have also been hired.

Mazars announced in November of 2023 that it would create a “unique global two-firm network” as of June this year.

The firm will team up with Forvis, the eighth largest public accounting firm in the United States, to create Forvis Mazar.

The firms said in a joint announcement that the network will operate under a single brand worldwide, with around €4.7bn in revenue.

Mr Verity added: “I am very proud to see the strength of our firm’s development as we enter a very exciting time ahead of the creation of our new global network with Forvis.

"We will be able to provide our clients with an expanded and highly competitive offering providing truly global reach.”

Hervé Hélias, chairman of the Executive Board at Mazars Group, said: “I am really delighted that Mazars and Forvis have taken this transformational step and am excited about the opportunities it presents for both firms in serving our clients and supporting our people.

“We’re proud to bring a pioneering new network model to our industry and are excited to continue this journey together."