Nexia Pacioli in the top ten largest Russian audit companies
On 20 April 2017 the rating agency RAEX (PA expert) announced the results of the 2016 ranking of the leading auditing and consulting companies. "Nexia Pacioli" entered the top ten of the largest Russian audit and consulting organizations, taking the seventh line in the ranking table.
Nexia CIS is the leader in the Appraisal category, the second in the category of Financial Consulting, IT consulting and the second as well in the category of services in the field of IFRS and on fourth position in legal consulting.
Svetlana Romanova, managing partner of the Nexia Pacioli says:"To be number seven that’s a very good result. We have been waiting for this for a long time. Our success belongs to Nexia Pacioli entire team. Thank you, colleagues and let’s continue to strive at the top."
The total revenue of the largest audit organizations increased by 6% in 2016 and amounted to 22.17 billion rubles. At the same time, revenue from for the year increased by 17%, while audit revenues were in stagnation - the annual increase was 0.5%.
"Such results in the audit segment come from the current economic situation in Russia which is causing clients desire for saving, especially on mandatory audit. This leads in the end to auditors competition increasing, in which the cost of services is one of the main argument, "said Vartan Khanferyan, an analyst of the rating agency RAEX (Expert RA)