Combination of U.S.- and U.K.-Based Associations Would Create World’s Third Largest Powerhouse of Independent Accounting and Consulting Firms
ATLANTA and FARNHAM/SURREY (4 MAY 2016) U.S.-based Allinial Global and U.K.-based IAPA International (IAPA) announced today that the management teams for both associations have signed a Letter of Intent to join forces. A combination would create an entity with 300 members in 79 countries with annual fee revenue of over $2.6 billion -- making it the third largest association of independent accounting and consulting firms in the world.
Allinial Global’s President and CEO Terry Snyder and IAPA’s CEO Stephen Hamlet will lead a team of representatives from both associations into further discussions and work through the necessary details. The proposed combination is subject to the execution of a definitive agreement with board and membership approval. If approved, the combination is expected to occur by the end of 2016.
“It is clear that both associations share a committed focus to delivering an agile and exceptional level of service to their respective members and their clients,” said Terry Snyder, Allinial Global President and CEO. “We share the same vision for continuing to provide members with flexible, strategic, and groundbreaking tools to better serve clients with international accounting needs. I am excited at the prospect of a combined global powerhouse that truly values innovation and independence.”
“I see this combination as a win-win for both our outstanding memberships and, in particular, for the clients of our members who rely on valuable and trusted resources around the world,” said Stephen Hamlet, IAPA CEO. “Our associations complement each other so well–from our strong global representation and diverse cultures, to our combined geographic footprint which will provide an extended global reach to resources from 300 firms worldwide. Opportunities to unite two highly respected and complementary organisations do not come along too often; and I look forward to working with my new and current colleagues from both associations to achieve this combination.”
About Allinial Global
Allinial Global is a member-based association dedicated to the success of independent accounting and consulting firms. Founded in 1969, this strategic affiliation of legally independent accounting firms has a mission to foster the independence, profitability, and continuous improvement of its members. Allinial Global is based in North America but offers international support by connecting its member firms to providers and global networks of accounting firms worldwide. For more information, please visit www.allinialglobal.com.
IAPA is a global association of independent accounting and business advisory firms that aims to support its members in providing their clients with a diverse range of professional and comprehensive business solutions, regardless of sector or location. The international reach of IAPA member firms offers instant access to first-hand knowledge of local regulations, culture and customs - removing potential cross-border uncertainties and increasing the opportunities for real business development. Established in 1979, IAPA comprises over 200 member firms with offices in some 70 countries. Based on the total fee income of its membership IAPA ranks in the Top 10 of associations of independent accountancy firms and has an annual revenue of over $1 billion. For more information, please visit www.iapa.net.
Stephen Hamlet, IAPA CEO Terry Snyder, Allinial Global President and CEO