Accounting firm associations Abacus Worldwide and JHI merge
Abacus Worldwide has expanded by merging in a fellow accounting association JHI, effective Sept. 1, 2020.
After JHI convened a special general meeting, JHI members approved a merger of the association membership into Abacus Worldwide by an overwhelming majority vote. The merged association will continue to be known as Abacus Worldwide and now includes 115 accounting and legal member firms in 225 offices across 50 countries. With the additional firms, Abacus Worldwide now ranks among the top 12 global accounting associations, with member global revenue of nearly $500 million.
The deal was first announced at the end of March (see story). The main goal is to provide greater benefit to accounting and law firm members and their clients by providing better geographic coverage, more possibilities for collaboration and more business development opportunities. The deal will enable Abacus to push forward on strategic initiatives to improve member programs, connections and engagement. Abacus has identified three main areas of focus: business referrals, knowledge exchange and practice management tools.
“It is a top priority for members to engage in knowledge sharing and business development activities and through this merger we will provide members with more opportunities to leverage their membership,” said JHI International chairman Brian Pashen in a statement Tuesday. “Abacus is a future-ready, member-focused association and JHI members are confident the association will be an excellent home for them. We look forward to a successful union.”
Abacus Worldwide is an international association of independently owned and managed accounting and law firms founded in 2012.
“Celebrating its eighth year in existence, Abacus Worldwide has rapidly developed into a top-tier accounting and legal association,” said Abacus Worldwide president and CEO Julio Gabay in a statement. “We are truly pleased to welcome the JHI members to Abacus Worldwide and look forward to continuing to develop a valuable association as one. We are better together.”
One of Abacus’s competitors, PrimeGlobal, evolved from a merger in 2011 of three associations: Polaris International, Fidunion International and IGAF.