GGI held on to its ranking in the annual list of top accounting associations and alliances from Accountancy Magazine.
The 2017 Accountancy Magazine Survey of 40 International Accountancy Networks, Associations & Alliances firmly positions GGI Geneva Group International (GGI) number six in the world with combined annual firm revenues of US$ 5.374 BN. As the biggest global multidisciplinary alliance a total professional staff of 28,007 takes care of the accounting, legal, taxation and consulting matters of its growing international clientele. The report of Accountancy Age comments that member firms of participating groups generated more than $200bn in fees. That compares with last year’s survey total of $189bn, a modest 1% increase.
Change is inevitably coming to the accounting sector and those firms that fail to prepare early or adapt are at risk of being left behind. Warnings over advanced technologies, skill shortages and greater complexity in business can be heard across the global sphere, with a particular focus on what has been described as the ‘fourth industrial revolution’ as technology continues to develop at an alarming rate.
‘The impact of artificial intelligence (AI) on the profession will be immense. Programs will be able to handle accounting files, check contracts and come up with solutions for clients within seconds. Those firms ignoring AI or those banking only on AI will potentially struggle,’ explains Michael Reiss von Filski, global CEO at Geneva Group International.
You can read the full article from Accountancy Age here.