On 11 January 2022, RSM, the leading global audit, tax, and consulting network, announced its official financial results for 2021.
RSM global revenue increased by 15.8%, reaching $7.26 billion compared to the last year’s figure of $6.3 billion. Double-digit growth was observed in all regions throughout the core service lines, highlighting a 38% increase in consulting services, 18.7% in accounting services, 8.4% in tax services and 7.6% in audit services, respectively.
In addition to that, in 2021, RSM added more than 40 new offices worldwide and increased its workforce to over 51,000.
According to Mr George Themistocleous, CEO of the RSM in Cyprus, the statement “These results are the reflection of our global commitment to delivering top-notch services to our selective clientele.” “Even though 2021 was a challenging year for businesses worldwide due to the pandemic post effects, we successfully managed as a network to assist our clients in responding, evolving and adapting to the new reality, and to achieve their business goals in the local and international markets.”
Moreover, it is worth noting that the consultancy services sector of RSM globally had a growth of 128% year-on-year due to the high demand of businesses in receiving outsourcing services from the RSM financial professionals. This demand increase was due to the constant need of companies to develop more efficient and effective solutions that would help them navigate the post-pandemic era successfully, increase their agility and resilience, and simultaneously create the path of a promising future.
Equally important was the fact that there was an overall global increase in demand for cross-border tax advisory services where member firms collaborated closely to address the complexity of the international tax regulations and the associated reputational risks.
Jean Stephens, Global CEO of RSM International, commented on RSM growth results by stating,
“RSM Professionals from around the world have worked exceptionally hard to empower our client base of highly dynamic, entrepreneurial, and ambitious businesses to thrive during this challenging time. This has required new perspectives, innovative approaches and a forward-looking gaze to ensure company owners, boards and leaders are primed for growth in the new business age. Our outstanding financial results reflect this pace of change and our unwavering commitment to supporting the growth ambitions of today’s leading businesses.”
