Dezan Shira Asia Alliance members Alberto Vettoretti, Anthony Ng, Christopher Heng, Mattaya Deejingjing, Mark Copsey, Nippita Pakdeetanakul, Nathaphorn Keetrakul & Chris Devonshire-Ellis at their Asia annual conference in Singapore on Tuesday.
The Leading Edge Alliance, whose members include Dezan Shira & Associates, achieved an annual worldwide turnover in excess of US$3 billion during 2014. Dezan Shira is one of the firms representing the Alliance across Asia.
In total, Leading Edge Alliance includes some 220 firms, with 617 offices in over 100 countries, giving clients access to over 2,200 partners and 23,500 professionals around the world. It is the world’s second largest accounting association outside the Big Four. Dezan Shira, meanwhile, maintains 17 offices across Asia, with liaison offices in Germany, Italy, and the United States. The Dezan Shira Asian Alliance extends service capability to 26 offices around the globe.
The 2014 figures were announced at the Leading Edge Alliance Asia conference, which has just taken place in Singapore. Leading Edge Alliance firms are typically the largest or second largest practice in their respective cities. Average member firm turnover is US$46million per annum, ranging from US$10 million from the smaller practices to over US$350 million for the larger American member firms, which include Marcum LLP of New York, Clark Nuber in Washington and PKF in Texas.
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While growth in Europe has remained flat amongst professional service firms, the U.S. has seen improved billing from member practices. Asia has been the best performing region during each of the past five years. Chris Devonshire-Ellis, Founding Partner of Dezan Shira & Associates, explains: “The high growth rates for Asia are reflected in our Alliance billings which have been boisterous. That is a reflection on the hard work and significant expertise put in by member firms and their staff throughout the Asian region. Increasing numbers of foreign investors are entering the Asian market, and we are excited to be at the forefront of this Asian boom. International investors are increasingly choosing Leading Edge Alliance member practices in Asia to assist them.”
In Asia, the Leading Edge Alliance is represented by significant practices in Australia, Afghanistan, Bangladesh, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Pakistan, Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand and Vietnam.
“These firms are well known to each other and are in regular contact concerning mutual client needs and pan-Asian client requirements”, says Devonshire-Ellis. “We are able to provide truly global solutions through this network and share in each others’ knowledge and success. Cross-border advisory, tax structuring and compliance is commonplace.”
Businesses that require assistance in Asia may contact Dezan Shira & Associates. For an introduction to the relevant offices, please email asia@dezshira.com.
“We are also looking for member firms in Cambodia, Laos, the Maldives, Myanmar, Mongolia, Nepal and Papua New Guinea” says Devonshire-Ellis. “Interested parties may contact us and I will be happy to discuss the Leading Edge Alliance network and introduce our Asian family of firms to them”.
For practices based in Europe, the Alliance’s next meeting is in Warsaw in April. The annual Global conference will take place in Miami in October.
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Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates. Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. For further information, please email asia@dezshira.com or visit www.dezshira.com. Stay up to date with the latest business and investment trends in Asia by subscribing to our complimentary update service featuring news, commentary and regulatory insight.
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