IAB World Survey Results: PrimeGlobal retains 4th position, with impressive 18% growth
PrimeGlobal NewsMarch 1, 2018
PrimeGlobal is delighted to be ranked as one of the top 5 associations globally, following the International Accounting Bulletin 2017 World Survey results published in February. The IAB Survey celebrates excellence in the accounting industry worldwide, and once again confirms PrimeGlobal as one of the top international associations, with member firms’ revenues of USD2.5B.
This year, PrimeGlobal has once again retained its ranking and achieved an impressive 18% growth in the member firm fee income. With this year’s growth following a year of 19% growth in 2016, the organization continues to prosper and grow in all of its’ 4 geographical regions. The 907 PrimeGlobal firm offices worldwide cover greater geography than any other accounting association, while the year-on-year growth in member firm fee income shows better growth than that of any other top 3 associations or networks worldwide. This includes having better growth rate than any of the Final 4, BDO or Grant Thornton.
Repeating last year’s success, IAB reports significant growth in the Association’s Europe, Middle East & Africa Region (EMEA), with a 17% member firm fee income growth and the 3rd regional position. IAB further reports EMEA region’s Eurozone achieved a remarkable 27% growth and a 2nd position, with country reports revealing very strong performance in France where PrimeGlobal took 1st position, coming 2nd in the Netherlands and Germany and 3rd in the UK.
PrimeGlobal’s EMEA Chairman, Aage Brink Thomsen, said: “Thanks to a huge effort from dedicated Board members and staff, following the implementation of a new and stronger management structure 3 years ago, we have been able to focus on growth in high quality member firms as a top priority. Our growth has been followed by an increasing interaction between member firms supporting the international activities of our clients." EMEA Chairman - Aage Brink Thomsen (Martinsen, Denmark)
In the North America region, the IAB reports 18% growth, following 24% revenue growth last year, as well as a steady 4th place. This year’s growth is attributable to new firms joining the Association, high member firm retention and significant organic revenue growth of existing member firms. With new services promoting this growth in the Consulting Practice area, as well as the impressive M&A activity, PrimeGlobal firms are expanding their footprint across the region.
“The ability to continue to attract new member firms, maintain high member firm retention and the growth of existing member firms is a reflection of the calibre of our staff, Board and members. As the North America Board looks forward, it is our goal that the region will continue to develop member services, expand the footprint across the region and engage members through collaboration and opportunities to interact.” North America Chairman - Cornelius V. Kilbane, Jr. (Raich Ende Malter, USA)
The Latin America region also performed remarkably well, with the 6th regional position, and growth in countries such as Panama where the Association achieved 470% growth and 1st regional position, and Brazil, where PrimeGlobal ranked as the second largest with fee income growth of 35%.
The IAB reports growth in the Asia Pacific region as well, with 7th regional position. The region is experiencing strong growth in Australia and Japan, taking 2nd position in both countries and 54% and 47% growth respectively.
“2017 was another year of success for PrimeGlobal, with significant growth and the addition of major member firms across all regions. In 2018, PrimeGlobal plans to expand its membership base further in key locations, remaining committed to delivering quality benefits and tools to its members.” World Chairman - Tim Davidson (Fortunity, Australia)