WASHINGTON: The results show the best performing region was Asia Pacific, where revenues were up 14.3% to $607m. Revenues in North America were flat at $1.46bn, 0.3% below the previous year. Baker Tilly International said its member firms in North America reported strong growth averaging 7.8%, with overall growth being impacted by the departure of two member firms. Revenues in Latin America were up by 11.1% to $110m and in Europe by 11.4% to $967m.
The top ten network says it has revised the definition of both its revenues and the number of member firms reported in calculating this year’s statistics. The figures now include only full member firms that were members of the network at the end of the reporting period. Local revenues have been converted into US dollars using average exchange rates for the year, as opposed to constant exchange rates in prior years. With regard to the number of member firms, Baker Tilly International now recognises each member firm that operates in more than one country as one member, as opposed to separate members for each country in previous years.
For the first time in the history of the network there are more than 30,000 partners and staff. Baker Tilly International reported mergers and acquisitions in Canada, Australia, Kazakhstan, Singapore, the US and the UK. In addition to this M&A activity, new firms joined the network in Austria, Bolivia, Honduras, Ireland, Paraguay, Seychelles, Slovenia, Somalia and Tunisia. At 31 December 2016 Baker Tilly International was represented in 147 countries (2015: 142) by a total number of 126 member firms (2015: 128).
