The third largest association of independent accounting and consulting firms in the world looks set to happen later this year, after the announcement of a merger being in the pipelines.
Subject to approval, IAPA International (IAPA), based in the UK, will be tying up with Allinial Global, based in the USA.
They have signed a Letter of Intent to merge together and create a joint body, which will have 300 members across 79 countries. The annual fee income will be $2.6bn (£1.8bn), reportedly.
Commenting on the development, Terry Snyder, Allinial Global President and CEO, said: “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. We share the same vision for continuing to provide members with flexible, strategic and groundbreaking tools, to better serve clients with international accounting needs.”
The CEO of IAPA, Stephen Hamlet, said: “I see this combination as a win-win for both of our outstanding memberships, and, in particular, for the clients of our members who rely on valuable and trusted resources around the world.”
Allinial is the older of the two organisations, having been formed in 1969, with 97 members across 13 countries, and a combined annual net income of $1.6bn.
IAPA was established in 1979, with 200 members across 69 countries and a combined fee income of $1.1bn a year.