Global leaders converge in Singapore to mark new era of growth and collaboration
Singapore serves as the regional hub for Forvis Mazars' APAC operations, leveraging the city-state's strengths as a global business and financial centre. This strategic decision provides Forvis Mazars with a strong foundation to serve clients across the diverse and dynamic APAC market.
Sustained double-digit growth in Singapore
Forvis Mazars in Singapore reported yet another year of robust financial results for the fiscal year ending 30 August 2024, marking the fourth consecutive year of double-digit growth. The firm achieved a fee income of S$43 million, representing a 17% increase year-on-year. This consistent growth trajectory underscores the firm's strong market position, expanding service offerings, and the success of its client-centric approach.
Expanded service offerings and expertise
Recognising the evolving needs of businesses in the region, Forvis Mazars in Singapore has proactively expanded its service offerings. Since 2023, the firm has added restructuring and insolvency services and financial services consulting to its portfolio, allowing it to provide more comprehensive solutions to clients facing complex challenges. Building on this momentum, the firm is poised to further expand its capabilities with the addition of forensic investigation and compliance services in the near future.
Forvis Mazars in Singapore stands out as one of only two firms, apart from the Big 4, authorised by the Monetary Authority of Singapore (MAS) to provide audit services to the financial services industry. This recognition underscores the firm's deep expertise and unwavering commitment to delivering high-quality services in this specialised and regulated sector.
"We are thrilled to report continued strong growth in Singapore, which is a testament to the dedication of our team and the trust our clients placed in us," commented Rick Chan, Managing Partner, Forvis Mazars in Singapore and Head of Audit and Assurance, Forvis Mazars in APAC. "This sustained success, coupled with the strength of the Forvis Mazars network and our enhanced position as the regional hub, positions us for even greater achievements in the years to come."
Investing in people and culture
This success also reflects Forvis Mazars' commitment to investing in its people and fostering a positive and supportive work environment. This commitment is exemplified by the firm's dedication to talent development and its continuously evolving human resources policies and practices to resonate with its multi-generational workforce. Forvis Mazars invests in holistic programmes that support employees' well-being, growth, and development. These programmes include initiatives that foster work-life integration, such as flexible work arrangements, mental health resources, and other initiatives promoting a healthy balance.
Beyond these programmes, Forvis Mazars cultivates a workplace culture that values open communication and collaboration—nurturing a culture of open communication and breaking down traditional hierarchies to build trust and encourage cross-level collaboration. This approach has led to increased employee engagement and more informed decision-making. The firm aims to create an inclusive and empowering environment where every individual feels valued and can thrive.
This dedication to employee well-being and development has been recognised for the eighth consecutive year by HR Asia, which named Forvis Mazars in Singapore as one of the Best Companies to Work for in Asia. This award highlights the firm's commitment to creating a workplace where employees feel valued, respected, and empowered to reach their full potential.
"We believe in building our people while building our clients," said Rick. "We are dedicated to providing them with the tools, resources, and opportunities they need to thrive personally and professionally. This commitment is essential to our continued success and our ability to deliver exceptional service to our clients."
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About Forvis Mazars
Forvis Mazars is a leading global professional services network. The network operates under a single brand worldwide, with just two members: Forvis Mazars, LLP in the United States and Forvis Mazars Group SC, an internationally integrated partnership operating in over 100 countries and territories. Both member firms share a commitment to providing unmatched client experience and delivering audit & assurance, tax, advisory, and consulting services around the world. Together, our strategic vision strives to move our clients, people, industry, and communities forward.
Forvis Mazars is the brand name for the Forvis Mazars Global network (Forvis Mazars Global Limited) and its two independent members: Forvis Mazars, LLP in the United States and Forvis Mazars Group SC. Forvis Mazars Global Limited is a UK private company limited by guarantee and does not provide any services to clients.
About Forvis Mazars in Singapore
Forvis Mazars Group SC is an independent member of Forvis Mazars Global, a leading professional services network. Operating as an internationally integrated partnership in over 100 countries and territories, Forvis Mazars Group specialises in audit, tax, and advisory services. The partnership draws on the expertise and cultural understanding of over 35,000 professionals across the globe to assist clients of all sizes at every stage in their development. Forvis Mazars in Singapore is part of the Forvis Mazars Group. Our clientele benefits from the combined expertise of 400+ Singapore-based professionals and our international team.
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