TAG Alliances Ranked in 2018 Top Three Accounting Alliances Globally by Accountancy Age Magazine
- Wednesday, December 12, 2018
For the seventh consecutive year, Accountancy Age Magazine has recognized TAG Alliances as one of the top three accounting associations in the world. The rankings, which are based on the collective revenues of the member firms, include 20 associations and alliances. TAG Alliances is prominently featured in Accountancy Age's article, which announces the 2018 rankings and examines the status of international associations and alliances.
In the article, TAG Alliances President & CEO, Richard Attisha addresses significant issues to the accounting profession such as the increasing regulatory pressure over conflicts of interest.
“Similar to how Enron in the early 2000s changed the landscape of financial regulations and corporate controls, the involvement of major accounting firms, in particular the Big Four, in high profile audit failures and scandals such as Carillion, HBOS, BHS and Tesco in the UK, Colonial Bank in the US, Steinhoff and the Gupta Affair in South Africa, among others, has placed pressures on legislative bodies and regulators to take action in order to protect company stakeholders and the public interest at large.”
Richard also remarks on technological disruption and how it could prove advantageous to mid-sized firms.
“Recently, we have seen an upsurge in third party, off the shelf, applications which will make these offerings much more readily available to mid-sized firms, which we believe will level the playing field and competitive advantage of the major firms on this front. We also believe that mid-sized firms will ultimately have a competitive advantage in relation to the Big Four in this area as they are already leaner in staff and will not have to navigate major adjustments to staff levels due to the implementation of audit automation, thus allowing them to offer more competitive costs.”
In addition to being one of the largest alliances in the world, TAG Alliances also distinguishes itself as one of the few multidisciplinary alliances for accountants. Composed of TIAG® (The International Accounting Group), an alliance of independent accounting firms; TAGLaw®, an alliance of independent law firms; and TAG-SP, a multidisciplinary alliance of strategic partners, TAG Alliances serves the full business needs of its members' clients.