RSM International, the seventh largest global network of independent audit, tax and advisory firms, has further strengthened its European presence with the addition of RSM Audit Sum Ltd, a company founded by ex-partners from within the Finnish top five public accounting firms.
Founded in 2011, RSM Audit Sum Ltd has three partners and 21 staff in four offices in Finland. 60 per cent of Audit Sum’s fee income is derived from insolvency and special audit work, 20 per cent from transaction support services, and 20 per cent from accounting and advisory. The firm expects its overall growth in revenues in 2013 to be 30 per cent, excluding possible business acquisitions in the current financial year.
The firm’s existing client groups include insolvency practitioners, bank directors (who deal with insolvency issues and credit applications of companies in financial distress) and venture capitalists, with current audit clients primarily in the retail, construction and transportation sectors.
Jean Stephens, CEO of RSM International, said: “I am excited about welcoming RSM Audit Sum to our network. Their partners have an excellent track record and impressive organic and acquisitive growth plans. We are sure they will make an excellent contribution to RSM International’s growth in Europe and further afield.”
Seppo Suontausta, Managing Partner, RSM Audit Sum Ltd, said: “We have built a very strong network of clients in Finland and solid revenue growth in our first two years of trading. Now is the perfect time for us to join one of the world’s leading networks. Our clients and prospects will benefit from the strength and reach of the RSM network and we look forward to supporting our new colleagues within RSM by showcasing the opportunities Finland can offer for new businesses looking to establish operations in the region.”
The RSM International network has seen significant expansion in the past twelve months with new member firms and correspondents in Angola, Argentina, Bangladesh, Brazil, Chad, Dominican Republic, Honduras, Isle of Man, Qatar, Japan, Nigeria, Sweden and Swaziland.