Accounting firm networks

The new firm will be led by KPMG's U.K. CEO, Jon Holt, while Stefan Pfister, currently the boss of the Swiss arm, will become deputy CEO.

Ernest John Nedder, a partner and chief strategy officer at RSM US, will be the next CEO of the RSM International network, succeeding Jean Stephens on June 1.

The Praxity Alliance of independent accounting firms reported revenue of $9.7 billion in 2023, an 11% increase over 2022 at constant exchange rates.

The Top 100 Firm also announced the first three member firms of the network, which will focus on food and agriculture clients.

Current loans at EYGS LLP — the entity that provides services to the network's member firms — more than tripled from a year earlier to $983 million as of June 30, 2023.

The international network's revenue reached $5.2 billion for the fiscal year ended Dec. 31, 2023.

Plus, promotions at Kassouf, CohnReznick, KSM, and Johnson Lambert, and other personnel and firm news from across the country.

The international network has signed up five collaborating firms in Argentina, Chile, Colombia and Mexico.

LC Lawyers, the Hong Kong law firm member of the Big Four auditor's global network, will cease operations on Jan. 23.

Mohammed Kande has been the Big Four firm's global advisory leader since 2019 and involved in PwC's artificial intelligence efforts.

Janet Truncale most recently was the regional MP for EY's financial services organization in the Americas.

The two-member combination will be called Forvis Mazars when it's finalized next June.

Jean Stephens, who has led the group for 17 years, plans to step down in May 2024 and become a senior advisor to the network.

The Top 10 Firm has been building its international network since last year, with further expansion plans as it begins to roll out AI technology.

The international network founded by a group of former partners from Arthur Andersen has unveiled a global valuation practice.

The consultancy, created by former partners of the defunct Big Five firm, expects revenue to exceed $1.9 billion this year.

Ernst & Young saw one of the biggest revenue increases in its history despite the cancellation of its plan to spin off its consulting practice.

Revenue from consulting services grew at the fastest pace at 19.1%, followed by risk advisory, and audit and assurance.

These are the first sanctions ever against a firm over independence violations because it's a member of an alliance where another firm did work for the same client.