Growing with purpose
A message from
CEO Hervé Hélias
Growing with purpose, leading with courage
"As auditors and advisors in tax, corporate finance, risk, compliance and business performance management, we have a pivotal role to play in setting the economic foundations of a new growth and trust contract."
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As we begin to emerge from the pandemic, the call for a more sustainable future has never been stronger. Businesses are – rightly – under pressure from everywhere to change how they grow: corporate social responsibility is not optional anymore, and it is time to walk the talk. Responsibility and sustainability have become important foundations of business performance and are vital to build confidence and trust in markets, corporations and public institutions.
Sustainability must be at the centre of our business models. Real progress will depend on our ability to put operational detail and data behind plans, and to execute these plans. Europe’s corporate sustainability reporting directive (CSRD), which is on the EU’s legislative and regulatory agenda, lays down the necessary framework for the full integration of environmental, social and governance (ESG) criteria into the overall long-term performance of companies. In other words, performance will depend on the ability to drive responsible and sustainable growth models.
As auditors and advisors in tax, corporate finance, risk, compliance and business performance management, we have a pivotal role to play in setting the economic foundations of a new growth and trust contract.
Growing with purpose: Mazars’ balanced and long-term strategy
Beyond financials: the new foundations of business performance
2021 was an excellent year for Mazars in terms of our business and financial performance. All our service lines and geographies progressed well, and we won significant new business across large and listed companies as well as privately owned businesses of all sizes, including major international corporations. Our double-digit growth confirms the strength and resilience of our unique integrated model. It is well balanced between regulated and non-regulated services, which reflects our long-term strategy to invest in a suite of core, high-quality audit, tax and advisory services that help our clients grow confidently and responsibly.
Mazars remains, more than ever, committed to deliver high-quality audits to companies around the world. In 2021, we continued to grow our audit practice: today we audit 2,400 PIEs worldwide, 1,200 headquartered in Europe, 960 listed on a regulated market, and more than 480 listed in Europe. Mazars is ranked 5th in the European audit market for large and listed European companies. Beyond audit, we grew significantly in financial advisory, which reflects a vibrant transaction market globally. Our growth in consulting reflects our focus on services that are consistent with our core mission to serve the public interest: we help our clients navigate a complex regulatory environment and mitigate the risks so that they can operate and grow with transparency and confidence.
Today, expectations on businesses go beyond financial performance to encompass sustainability criteria and the role of auditors increasingly goes beyond financial transparency. In this context, Mazars’ core mission has never been more compelling and we want to play our full part, as a leading auditor and advisor, to help our clients transform and grow responsibly. We have dedicated experts contributing to the European CSRD effort, have developed sustainability training courses for our staff and are working with clients to help them prepare for ESG reporting and integrate sustainability strategies into their business models. At the same time, we are working to transform our own business and operations and the way we work to ensure we meet the ESG standards. In all our countries, and at the Mazars Group level, we have appointed leaders and teams to drive our own corporate, social responsibility (CSR) strategy.
Walking the talk, investing in what matters
Mazars has always been guided by its founding principles: to act responsibly, in the public interest and for future generations. We take this commitment seriously, walking the talk, innovating and transforming ourselves, continuously learning and developing along the way. In 2020, the international partnership voted in the firm’s next four-year strategic plan and confirmed our priority investments in key areas that matter for our people, our clients and society:
CEO and Chairman, Mazars Group
• Growing a diverse pool of talented professionals. Our aim is to make Mazars a school of excellence, nurturing empowered, caring leaders that lead by example.
In 2022 and beyond we will continue to invest where it matters for our people, our clients and society, growing responsibly and moving forward with renewed purpose and confidence. I am very optimistic about the year ahead. There are opportunities everywhere. We are seeing an upturn in the industry as well as in the world economy, and, most importantly, we have talented and committed professionals across the world to do what’s right to achieve our mission and ambitions.
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Group Brand &
• Delivering high-quality financial audits that meet the highest professional standards.
• Enhancing our sustainability capabilities to provide ESG audits and advisory services.
• Expanding our financial advisory and consulting services to help clients with critical matters such as transactions, performance management, risk and compliance, data governance and security, or tax transparency, and providing tax and payroll outsourcing services to secure global compliance.
Serving our clients
• Significantly increasing our CSR investments, to support our communities, to foster an inclusive and flexible workplace for our talent and to protect the planet: we use a science-based targets approach to reduce our carbon emissions and become net zero by 2030.
• Contributing to defining the standards (such as CSRD) and conditions for a healthy audit industry able to deliver quality financial and ESG audits, at scale.
Time for action
The Mazars C-suite barometer, which surveys over 1,000 executives across 39 countries, enables us to gain valuable insights into our clients' markets and understand the opportunities and challenges they see ahead. Our latest study, conducted at the end of 2021, revealed a sense of confidence and resilience: C-suite are planning to invest and are making commitments, especially around ESG. But there appears to be a gap between intent and implementation.
Now is the time for action.
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C-suite barometer 2021
To tackle the transformations expected, make the most of investments planned and deliver on commitments, particularly related to ESG, businesses need to move beyond planning and intent into action. To do this they need the right programmes in place, and the right people with the right skills.
Discover more about the ESG topics businesses are focusing on, and the leadership skills they believe their organisation needs in the coming years, in our C-suite barometer.
Moving from strategy to action
The C-suite barometer
Most (63%) already report on sustainability and a further 25% plan to in the coming 12 months.
Three quarters plan to increase investment in sustainability initiatives over the next 12 months – a 27-point increase.
Half have already made public commitments to ESG issues including reducing waste (62%), reducing pollution (60%), human rights (58%), responsible supply chain (57%), diversity (51%).
Most (58%) say Covid-19 has sharpened their focus on ESG: in large companies ($1bn+ revenue) 70% say it has increased.
Businesses consider a transformation in their sustainability strategy in the coming three to five years likely - an 18-point increase vs 2020.
ESG (environmental, social and governance) is a clear priority for the C-suite: they expect to transform their sustainability strategy; most – particularly large businesses – say Covid-19 sharpened their focus on ESG. Around three quarters of businesses say they are either currently focusing or planning to focus on a range of ESG topics within the coming year.
ESG now firmly on the C-suite agenda
Remote working is here to stay: half expect increased remote or flexi-working to be a long-term change for their business.
Adapting to remote working’ was the most significant challenge caused by Covid-19: almost half named it in their top three disruptions.
Technology trends are firmly on executives’ radars: over half expect technology/innovation trends to have a major impact on their business in the next 3-5 years.
Leaders are prioritising IT: 82% plan to increase investment in maintaining and evolving IT systems.
Leaders expect trends in technology/innovation to have the biggest impact on their business in the coming years: they are confident they can respond and are planning to increase investment in IT systems.
The pandemic showed the world a new way of working, as businesses harnessed technology and adapted to remote working: this will be a major business legacy of the pandemic.
Harnessing the power of technology
Most companies are confident they have the resilience to weather a crisis.
An average of 87% of leaders are confident their business can tackle the trends affecting them - an increase of 8 percentage points over last year.
Businesses consider a transformation in their sustainability strategy in the coming three to five years likely.
Two thirds expect their business to go through a technology transformation in the next three to five years.
Leaders expect to transform their business, with technology and sustainability-related transformations being the most likely: nearly two thirds (62%) expect to transform their sustainability strategy in the coming years, second only to technology transformation (68%). Both have increased sharply – +18 percentage points vs 2020 – making them clear areas of focus moving forward.
Businesses are confident they can respond to the transformations ahead, are planning to invest and are confident they have the resilience to weather a crisis.
Transformations ahead: technology and sustainability top the list
Our compelling mission
As organisations set out to increase transparency, operate more sustainably and nurture stakeholder trust, Mazars' core mission has never been more compelling.
A different perspective
As the world calls for more transparency, authenticity and engagement from organisations, we are confident in our ability to drive responsible and sustainable growth for our firm, while supporting our clients on their own journeys.
Mazars has always been guided by founding principles to act responsibly, in the public interest and for future generations. We take this commitment seriously, walking the talk, innovating and transforming ourselves, continuously learning and developing along the way. Our four-year strategic plan (2020-24) confirms our investments in key areas that matter for our people, clients, industry and society.
Walking the talk, investing in what matters
Confidence and trust
Responsibility and sustainability are quickly becoming the new foundations of business performance and are vital to build confidence and trust in business and public institutions. Businesses are – rightly – under pressure from everywhere to change how they operate. In this context, Mazars’ core mission has never been more compelling: we help our clients grow confidently and responsibly. As auditors and business advisors, we have a pivotal role to play in setting the economic foundations of a new growth and trust contract.
We reaffirmed this purpose in our renewed brand positioning in 2020, through a strong mission statement: we want to help build the economic foundations of a fair and prosperous world, by caring for the success of its people and clients, the health of financial markets, and the integrity of our industry.
“Today, expectations on businesses go beyond financial performance to encompass sustainability criteria. Increasingly, the role of auditors goes beyond financial transparency. We want to play our full part, as a leading auditor and advisor, to help our clients do what’s right, transform and grow confidently and responsibly.”
Investing in what matters
What makes Mazars different? We operate around the world as a single, united and connected team of partners, with aligned interests, consistent delivery models, and a shared commitment to the highest standards of service delivery and ethics. We have the right scale and connectivity to serve clients effectively, wherever they are in the world, while remaining agile and personal in our approach.
More about Mazars
In 2022 and beyond we will continue to invest where it matters for our people, our clients and society, moving forward with renewed purpose and confidence.
One integrated partnership model: what it means for our clients
ESG audits & strategies
Quality of audit
Tax, legal and
Financial advisory and consulting
CSR and inclusion
IT and data security
Global delivery platforms
Consistent project methodologies and technical standards worldwide
Stable relationships through team continuity and single point of contact
Blend of sectorial, topical
and geographical expertise
Agility, working together
to tailor solutions to your needs
Global and local expertise
Consistent quality of service
and professional standards
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about our brand
Investing in what matters
“Mazars' sustainability strategy is faithful to our core values: act responsibly, cultivate high-quality teams, deliver bespoke solutions to clients and manage our firm in an integrated way for the benefit of future generations.”
Our CSR and sustainability strategy lies at the core of our business and we strive to create value for all our business partners while also caring for people, the planet, and society. Today, we have a robust strategy to drive positive change for our people, the environment and local communities through five key pillars:
Key trends reshaping the global business landscape bring both challenges and opportunities. Mazars invests across four pillars – talent, clients, sustainability and our industry – to stay ahead of these trends, transform our business, support the transformation journeys of our clients, and generate responsible, sustainable growth.
Our ambition is to both increase the number and representation of women across our workforce and in leadership teams, and to transform our organisation to make it more inclusive for all. We strive to provide our people with an environment that enables them to thrive and achieve their potential.
Most of our 92 countries track and share their gender-diversity indicators.
Over a third of Mazars’ global leadership team are women.
Women make up just under half of Mazars’ governance bodies overall.
Women make up just under half of our global talent pipeline.
ESG is high on the agenda, both for Mazars and our clients, and we are enhancing our sustainability capabilities to provide ESG audits and advisory services. Our dedicated sustainability services team has the expertise to help clients however far along their sustainability journey they are.
As companies grapple with an ever-evolving array of rules and regulations, our global compliance service is on hand to help businesses ensure good governance by meeting their specific obligations.
With digitisation and technology evolving at a fast pace, managing data and protecting systems is top on the agenda. Mazars' technology & digital consulting services help businesses navigate complexity, accelerate their digitalisation and manage risks.
Data governance & security
A broad range of services for a broad range of clients
With 44,000 people around the globe (28,000 in Mazars' integrated partnership and 16,000 via the Mazars North America Alliance), we have the scale to serve global clients while remaining agile and personal in our approach.
Large international and listed companies
We work with over 50,000 privately owned businesses worldwide. Whether they’re looking to ensure compliance with local laws and regulations, get funding and acquisition advice, grow internationally, digitise their business or manage tax implications of exit planning, we are here to help.
Privately owned businesses
The expectations and pressure on those delivering public services is intense. Our experts help public and social sector organisations build trust, effectiveness and transform sustainably through tailored advice and practical solutions that improve service delivery for the benefit of society at large.
Public and not-for-profit organisations
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As a leading international audit, tax and advisory firm, we help our clients grow confidently and responsibly. Operating as a united and integrated partnership, we work as one team to deliver exceptional and tailored services
in audit, accounting, tax, financial advisory, consulting and legal counsel. We serve clients in a variety of industries, with a deep understanding of sector-specific environments, issues, and trends.
We understand the goals and concerns of private owners and shareholders. Mazars advisors act as a sounding board, answering the sensitive questions our clients have, making the complex simple, providing the information needed to make decisions.
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Our CLIP accredited Mazars University offers 20+ world-class leadership & business development programmes, among which is our flagship ‘The Next MBA’. The Next MBA builds a community of top executives from leading companies around the world, who embark on a transformative learning experience together.
In 2021, we continued to take tangible steps to shift from a knowledge-intensive to an education-driven model: we are building a school of excellence by offering a range of training programmes to our teams - and to clients - on a variety of business-critical topics. They include technical courses and quality training in all our areas of expertise, as well as new areas such as ESG and soft skills including leadership, communications and inclusion.
Building a school of excellence
In 2021, Mazars trained 280 ReCoaches – representing ¼ of our partners - to guide and advise their peers through their self-assessment and individual development journeys over a four-year period.
Our ReCoach programme is designed to nurture a culture of continuous feedback and development across Mazars. Not only does this programme help Mazars sharpen the skillsets of its senior leadership while fostering new connections between partners across the globe; it also encourages ReCoaches to identify and endorse top talent for future executive leadership roles while fostering a peer-coaching mindset across our global partnership.
Nurturing a coaching culture from the top
Mazars is dedicated to ensuring we're an organisation where people have a sense of belonging and pride, where everyone can make meaningful contributions and be themselves. We firmly believe this is how we'll deliver greater value to our clients, attract and retain the best people, and build effective and healthy teams.
Driving diversity and inclusion
We continually invest in our quality management systems and processes to design and implement the new International Standards for Quality Management and to embed quality in everything we do.
Our Group Independence and Acceptance Committee is responsible for oversight of independence and acceptance for the business worldwide. We invest in IT solutions such as WeCheck, our global tool designed for conflict management to protect our independence across our international teams.
Our values guide us to do what is right. Our global code of conduct serves as a moral compass for our daily activities. In addition, we have developed a code of conduct for objectivity and independence (CCOI) which complies with the Code of International Ethics Standards Board for Accountants. These codes of conducts are integral parts of all member firms’ professional training programmes.
Codes of conduct
Our profession is built on quality, integrity and objectivity: these are also values that sit at the heart of Mazars, driving our relentless focus on technical excellence and quality management.
Mazars has a community of over 250 innovation ambassadors in 60 countries. Driven by a central innovation team and accelerated by eight innovation hubs – in France, Italy, Germany, Slovakia, Russia, Spain, Netherlands, Hungary – this network aims to identify the right solutions and streamline delivery across the business.
Our online client platform, Signals, further enhances collaboration with our clients and across service lines. Unique and specially developed by Mazars’ teams, it provides an efficient work environment where all documents are accessible and all tasks can be carried out online. Signals is well regarded by our clients as a user-friendly digital platform, and complies with the highest quality and security standards.
Covid-19 has accelerated the use of technology, enabling remote working everywhere we operate, while digitisation and technology continue to be critical areas of investment for Mazars. We embrace the latest technology to increase efficiencies and collaboration, enhance service delivery and quality for clients, and improve data security.
Digitising our firm and our services
In 2021, we continued in our efforts to make Mazars the smart choice for top talent. This year, we pioneered new ways of working with our people and made efforts to care for their psychological safety and development. We also continued to nurture innovation and a true sense of purpose through solidarity, sustainability and serving the public interest.
Our efforts helped earn Mazars recognition as a great place to work in many countries around the world:
Reinforcing our employer value proposition
Ranked sixth by the Top 100 Apprenticeship Employers.
Mazars in the UK
Ranked as one of the 100 best employers (source: Economic News).
Mazars in Spain
Four-time winner at HR Asia’s Best Companies to Work in Asia.
Mazars in Singapore
Earned the Happy Trainees label with almost 90% of trainees willing to recommend Mazars to their peers.
Mazars in France
Awarded the HR Recognition Award in the 'recruitment strategy' category by the Order of Certified Human Resources Consultants.
Mazars in Canada
This is centred around our code of conduct and the quality of services we deliver to our clients. We recognise our role in contributing to financial markets and aim to do so while staying true to our values. We strive to maintain the highest quality standards, ensuring our clients, investors, markets and regulators have confidence in us to do what is right.
Integrity and responsibility
We truly believe that today, our world is facing an existential crisis and everyone, be it individuals or entities, has a role to play in reducing our impact on the planet. That is why we are working to understand our global environmental footprint and will take the necessary actions to reduce our negative impacts.
Climate & environment
We understand the trends shaping our clients’ agendas and we make sure we invest in developing and enhancing our capabilities to provide the high-quality services they need to operate with confidence.
Innovating in critical services
Our experts contribute to defining the standards of corporate reporting for sustainability performance, and to building trust in a renewed framework, which will make companies accountable…
In the European Union, Mazars actively supports the ambitions of the forthcoming Corporate Sustainability Reporting Directive (CSRD) and participates in the Financial Reporting Advisory Group’s (EFRAG) sustainability standards setting process.
As market expectations shift, the audit profession faces a decisive moment. We are committed to improving financial reporting, corporate governance and overall confidence in capital markets at a global level.
The future of audit
Community engagement and impact encompasses our work to improve social and economic conditions in communities around the world. We believe in using our skills and expertise to address societal challenges and create sustainable positive impact.
We help organisations around the world on their journey to sustainability, working on key environmental, social and governance issues, helping build a stronger, more sustainable economy for tomorrow.
Our 2021 study on the future of audit, based on the views of over 500 business leaders in 12 countries, found:
• Objectivity, confidence and performance improvement are the primary goals of audit.
• Technology matters: it empowers auditors, it does not replace them.
• Businesses value auditors' skills behind the screen.
• The market is open to rotation.
• Auditors are encouraged to expand services beyond financial reporting.
• There is growing support for audit reform (and joint audit).
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Our firm has always been at the forefront of audit evolutions, actively working in the public interest and helping shape a high-quality audit market. We are taking part in the European Commission’s consultation process to strengthen corporate reporting. Among key improvement drivers, we are convinced that joint audit is the most relevant regime to address both quality and choice issues. Our Joint Audit Knowledge Centre provides insights on the latest developments in the debate around joint audit.
Built on values
Global audit platform
In 2021, we added new and improved functionality to our bespoke global audit platform, Atlas, to further enable the delivery of seamless, integrated audits. We use data analytics in various audit areas to better understand our clients’ businesses, assess risks and deliver efficiencies.
Our sector expertise
Quality & compliance
Technology & innovation
Our year in review
Mazars continued to grow in 2021, investing where it matters. We welcomed new partners and team members, enhanced our service offerings and capabilities, advanced our CSR and D&I strategies, celebrated recognition in the market, shared insights and research on various industry topics and much more.
Mazars welcomes 75+ new partners
We proudly welcome 78 new partners from 30 countries, dedicated to serving our clients around the world.
Mazars launches ESG health check
Mazars appoints new CFO
Our new ESG ‘health check’ is an effective tool to help clients on their ESG journey.
Ariane Rossi assumes Group Chief Financial Officer (CFO) role and joins the Group Management Team.
Mazars launches 2020 C-suite barometer
In the midst of a global pandemic, Mazars' 2020 C-suite barometer reveals a majority of business leaders still expected growth in 2021.
Mazars Partner Maud Gaudry shares her insight on the future of sustainability reporting.
Mazars contributes to collective progress on sustainability reporting
Mazars welcomes new senior advisor
Sylvie Matherat is appointed global senior advisor to Mazars' financial services practice.
Mazars launches Brexit Radar
Mazars launches Brexit Radar, a new tool helping businesses navigate ongoing changes introduced post-Brexit and ensure business continuity while identifying international opportunities ahead.
Mazars' ReCoach programme receives the Gold Award in the Leadership and Talent Management category at the annual U-Spring Learning & Development event.
Award for Mazars' ReCoach programme
The Mazars - OMFIF policy tracker
Mazars partners with OMFIF to launch a sustainable finance policy tracker. This tool helps financial institutions track and understand how different countries are mitigating climate risks.
Jo Connolly joins Mazars as the Group Chief Quality & Compliance Officer to continue raising our quality standards and drive consistency across our partnership.
New Chief Quality & Compliance Officer
A board's guide to sustainability
EcoDa and Mazars join forces to create a practical guide to help board members and leadership teams navigate their sustainability journeys and achieve sustainable success.
Mazars hosts flagship tax conference
Mazars hosts flagship virtual conference "Set for change: tax transparency, a way towards sustainability" to shed light on key tax issues and provide an opportunity for tax experts to connect.
The new Mazars brand celebrates one year
Mazars celebrates the first anniversary of its new brand and visual identity.
Mazars at One Young World summit
A Mazars delegation attends the One Young World summit in Munich.
Mazars expands in Taiwan
Mazars expands team and service offering in Taiwan, adding audit, tax, advisory and outsourcing services to existing capabilities.
In January 2022, Mazars announced double-digit growth, confirming the strength and resilience of its integrated business model.
“2021 was an excellent year in terms of our business and financial performance. Our double-digit growth confirms the strength of our unique integrated model and shows that we are extremely resilient and able to deliver sustained growth through quality services. All our service lines and geographies progressed well, and we won significant new business across large and listed companies as well as businesses of all sizes, including major international corporations.”
In 2022 and beyond, we will continue to invest where it matters to make ESG an essential part of Mazars’ long-term growth strategy
Revenues of $2.1bn confirm Mazars’ resilience and ability to grow responsibly and sustainably
Global fee income increases of 12.3% in 2020/21 financial year
Mazars Chief Brand, Marketing and Communications Officer Cécile Kossoff is appointed Global Diversity & Inclusion Leader, reporting directly to the CEO.
global D&I leader
Mazars recruits Soumyanetra Mondal to lead its Corporate Social Responsibility (CSR) initiatives and drive sustainability awareness and impact across the business.
global CSR leader
'In 2022 and beyond we will continue to invest where it matters for our people, our clients and society, growing responsibly and moving forward with renewed purpose and confidence."
Mazars' Sanae Lahlou selected among 2021 "Young Global Leaders" by the World Economic Forum (WEF).
Sanae Lahlou a WEF Young Global Leader
Mazars announces 2019/20 results
Alongside our annual results, we set out our next four-year strategy, renewed our leadership team and reaffirmed the importance of shaping the transformation of the audit profession.