Mazars, the independent international organization specializing in audit, accountancy, tax, legal and consulting services, has announced an integration with Chinese audit firm ZhongShen ZhongHuan.
This deal will bring together more than 1,800 professionals, including 83 partners, from 15 offices across Mainland China. Recognized as a leader in financial services (notably in the bank and insurance industries), Mazars will combine its expertise with ZhongShen ZhongHuan’s market over the next two years, so as to be ready for the next mandatory audit rotation for banks, Mazars announced.
This transaction will ensure that Mazars continues to strengthen its position in high-growth economies on all continents, and follows similar integrations in Germany, Australia, Mozambique and Cyprus during 2015. New York-based WeiserMazars (FY14 net revenue of $158 million) is an independent member of the Mazars Group.
Philippe Castagnac, CEO of Mazars and chairman of the executive board, states that “after the integration of an important German structure in 2015, this operation in China is not only a significant boost to Mazars’ presence and capacities, but also an undertaking for additional development within one of the world’s leading economies.”
ZhongShen ZhongHuan will be able to offer improved services for Chinese clients that are pursuing internationalization.
Zhang Liwen, chief chartered accountant of ZhongShen ZhongHuan, has been appointed to the Mazars Group executive board. Shi Wenxian, chief partner of ZhongShen ZhongHuan, has been appointed to the Mazars Group Governance Council.