Mazars, the leading international audit, tax, and advisory firm with an office in Bermuda, is to link up with accounting powerhouse Forvis to create a new, top 10 global network that will operate under a single brand worldwide, Forvis Mazars.

The companies said the new network, which is to become effective June 1 next year, will position both firms for continued global growth by expanding their capabilities to serve clients, especially those with international needs.

With about €4.7 billion ($5 billion) in revenue, Forvis Mazars will be a new entrant in the top 10 global network rankings.

Uniquely formed of just two members, the network is designed to be agile, deliver consistency and have the global scale to meet clients’ needs.

Both network members will remain owned by their existing respective partnerships.

Effective June 1, 2024, Mazars USA will join Forvis Mazars in the United States.

“I am really delighted that Mazars and Forvis have taken this transformational step and am excited about the opportunities it presents for both firms in serving our clients and supporting our people,” said Hervé Hélias, chairman of the executive board, Mazars Group.

“We’re proud to bring a pioneering new network model to our industry and are excited to continue this journey together.

“At Mazars we are committed to helping our clients confidently build and grow their businesses, and forming this two-firm network with Forvis complements our existing international integrated partnership and significantly advances Mazars’ international strategy.

“We are proud to offer our clients the strength of our international integrated partnership in 100 countries and the benefits of Forvis’s large national partnership in the US that truly works as one firm across the US.

“It gives us the scale and expanded presence that we have been striving for in the US and marks us out as a top 10 global network with extensive scale and coverage”.

Tom Watson, CEO of Forvis, said: “A two-firm network, operating under a single global brand, quickly advances our firms’ shared strategies.

“It's an opportunity to better serve our clients, especially those with international needs, and support our people on a path of continued growth.

“Our organisations know each other well, with a strong history of collaboration and very similar cultures of putting our people and clients first.”

Mazars has offices in more than 100 countries and territories worldwide.