Mazars and Moores Rowland International have agreed in principle to launch a new global alliance of independent firms that will operate under the name Praxity.
Mazars is an independent, international organization that specializes in audit, accounting, tax and advisory services and has partnerships in 38 countries. Moores Rowland International is an association of independent accounting practices. Its member firms have more than 560 offices in 87 countries and more than 19,000 partners and staff.
Both Mazars firms and MRI members will be eligible to apply to Praxity, and those applications will be considered on the basis of “agreed upon criteria of excellence.” The organizations expect that global coverage will be achieved through the process, and the alliance will have turnover of more than $2.5 billion annually.
MRI members have approved a resolution to dissolve MRI before March 31, 2007, and enable members to apply to Praxity. A similar approval is expected from Mazars members in early December.
BKD LLP managing partner William Fingland Jr. and executive member of the Mazars board Jos van Huut will serve as the new alliance’s chairman and vice chairman, respectively.
Additional information about Praxity will be released in early 2007.
