RSM International
Encyclopedia
RSM International is a professional services network
. It is the 6th largest accounting network
of independently owned and managed accounting, auditing and tax firms with over 700 offices in 80 countries.
Member firms of RSM International are all independent and operate in their home countries under their own firm names. Member firms that meet a number of membership requirements are licenced to adopt RSM as a prefix as part of their firm name.
RSM International is the brand used by a network of independent accounting and consulting firms. RSM International Limited (which manages the network) is incorporated as a private limited company under the laws of England and is based in London. Like other professional services networks
, RSM International Limited does not offer any professional services to clients in its own right.
Historically, the prefix ‘RSM’ was derived from the initials of 3 of the original member firms of the organisation: Robson Rhodes (UK), Salustro Reydel (France) and RSM McGladrey/McGladrey & Pullen
(USA). This historical foundation, however, no longer bears any relevance to the organisation today and RSM has now become a name in its own right. Of the three founding members, only RSM McGladrey remains a member of the international organisation. Robson Rhodes is now part of Grant Thornton
UK LLP and Salustro Reydel is part of KPMG
.
With effect from 1 January 2006, RSM International appointed Jean Stephens as its CEO for a five-year term. This made her the first woman chief executive of a top 10 global accounting network. Jean Stephens replaced M.Sabry Heakal, who had held the post for 10 years from 1 November 1995.
and resigned from RSM International.
RSM France was created as the new French member firm with offices in Paris
.
, the former UK firm, and RSM McGladrey announced they were to merge. However, delays in completing the deal due to financial problems at H&R Block
, the company which owns RSM McGladrey, led RSM Robson Rhodes to terminate the deal.
On April 29, 2007, the partners of RSM Robson Rhodes announced they were to merge with Grant Thornton
UK LLP, the UK firm of Grant Thornton International and 5th largest accountancy firm in the UK. The merged entity adopted the Grant Thornton brand and Robson Rhodes resigned from RSM International. The deal was completed on July 1, 2007.
Bentley Jennison later joined the RSM International network as its British member to replace Robson Rhodes, becoming RSM Bentley Jennison.
During 2008, RSM International admitted new member firms in several countries. These included RSM China CPAs, the 5th largest firm in China and RSM Germany, a network of 11 firms based in the key cities throughout Germany
. Also admitted were Shiff Hazenfratz & Co in Israel
; RSM Italy S.p.A and Synergia Consulting Group in Italy
and RSM Sawamura & Co in Japan
.
In 2009, RSM International admitted several new member firms including FGS, the 7th largest financial advisory firm in Ireland
. It also admitted new firms in Poland
, Hungary
and Romania
, continuing its drive to ensure full client representation across the Central and Eastern Europe
region.
In December 2009, RSM International’s member firm in the United Kingdom
- RSM Bentley Jennison – merged with Tenon Group Plc to become RSM Tenon
, the seventh largest accounting firm in the UK. RSM Tenon is a public company
listed on the London Stock Exchange
, the first accountancy firm to be listed there
Professional services networks
Professional services networks are networks of independent firms who come together to cost-effectively provide services to clients through an organized framework. They are principally found in law and accounting. They may also be found in investment banking, insurance, real estate and architectural...
. It is the 6th largest accounting network
Accounting networks and associations
Accounting networks and associations are professional services networks whose principal purpose is to provide members resources to assist the clients around the world. The networks and associations operate independently of the independent members. The largest accounting networks are known as the...
of independently owned and managed accounting, auditing and tax firms with over 700 offices in 80 countries.
Member firms of RSM International are all independent and operate in their home countries under their own firm names. Member firms that meet a number of membership requirements are licenced to adopt RSM as a prefix as part of their firm name.
RSM International is the brand used by a network of independent accounting and consulting firms. RSM International Limited (which manages the network) is incorporated as a private limited company under the laws of England and is based in London. Like other professional services networks
Professional services networks
Professional services networks are networks of independent firms who come together to cost-effectively provide services to clients through an organized framework. They are principally found in law and accounting. They may also be found in investment banking, insurance, real estate and architectural...
, RSM International Limited does not offer any professional services to clients in its own right.
History
The RSM International brand has been in continuous existence since 1964, when it began as a small network that was originally called DRM. In 1993 the organisation restructured and changed its name to RSM International.Historically, the prefix ‘RSM’ was derived from the initials of 3 of the original member firms of the organisation: Robson Rhodes (UK), Salustro Reydel (France) and RSM McGladrey/McGladrey & Pullen
RSM McGladrey
McGladrey is the 5th largest accounting firm in the United States by revenue and a member of the global accounting network RSM International.The firm has more than 8,000 employees across 85 offices nationwide providing assurance, tax, and consulting services...
(USA). This historical foundation, however, no longer bears any relevance to the organisation today and RSM has now become a name in its own right. Of the three founding members, only RSM McGladrey remains a member of the international organisation. Robson Rhodes is now part of Grant Thornton
Grant Thornton
Grant Thornton LLP encompasses the U.S. operations of Grant Thornton International, the largest accounting organizations outside of the Big Four . The member firms of Grant Thornton International comprise a global network of 27,000 employees and 2,207 partners in more than 110 countries...
UK LLP and Salustro Reydel is part of KPMG
KPMG
KPMG is one of the largest professional services networks in the world and one of the Big Four auditors, along with Deloitte, Ernst & Young and PwC. Its global headquarters is located in Amstelveen, Netherlands....
.
With effect from 1 January 2006, RSM International appointed Jean Stephens as its CEO for a five-year term. This made her the first woman chief executive of a top 10 global accounting network. Jean Stephens replaced M.Sabry Heakal, who had held the post for 10 years from 1 November 1995.
RSM Salustro Reydel
In 2004, RSM Salustro Reydel, the former French firm merged with KPMGKPMG
KPMG is one of the largest professional services networks in the world and one of the Big Four auditors, along with Deloitte, Ernst & Young and PwC. Its global headquarters is located in Amstelveen, Netherlands....
and resigned from RSM International.
RSM France was created as the new French member firm with offices in Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
.
RSM Robson Rhodes/RSM McGladrey merger
In 2006, RSM Robson RhodesRSM Robson Rhodes
RSM Robson Rhodes LLP was a partnership of chartered accountants in the United Kingdom and the Republic of Ireland. It was the UK member firm of RSM International, the 6th largest network of professional accountancy firms in the world...
, the former UK firm, and RSM McGladrey announced they were to merge. However, delays in completing the deal due to financial problems at H&R Block
H&R Block
H&R Block is a tax preparation company in the United States, claiming more than 22 million customers worldwide, with offices in Canada, Australia and the United Kingdom. The Kansas City-based company also offers banking, personal finance and business consulting services.Founded in 1955 by brothers...
, the company which owns RSM McGladrey, led RSM Robson Rhodes to terminate the deal.
On April 29, 2007, the partners of RSM Robson Rhodes announced they were to merge with Grant Thornton
Grant Thornton
Grant Thornton LLP encompasses the U.S. operations of Grant Thornton International, the largest accounting organizations outside of the Big Four . The member firms of Grant Thornton International comprise a global network of 27,000 employees and 2,207 partners in more than 110 countries...
UK LLP, the UK firm of Grant Thornton International and 5th largest accountancy firm in the UK. The merged entity adopted the Grant Thornton brand and Robson Rhodes resigned from RSM International. The deal was completed on July 1, 2007.
Bentley Jennison later joined the RSM International network as its British member to replace Robson Rhodes, becoming RSM Bentley Jennison.
International expansion
During 2002, RSM International admitted Albazie & Co. as its member firm in Kuwait, which is rated as second / third largest firm in Kuwait. Albazie & Co. was representing the erstwhile largest global firm Andersen until its fallout.During 2008, RSM International admitted new member firms in several countries. These included RSM China CPAs, the 5th largest firm in China and RSM Germany, a network of 11 firms based in the key cities throughout Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
. Also admitted were Shiff Hazenfratz & Co in Israel
Israel
The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...
; RSM Italy S.p.A and Synergia Consulting Group in Italy
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
and RSM Sawamura & Co in Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
.
In 2009, RSM International admitted several new member firms including FGS, the 7th largest financial advisory firm in Ireland
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
. It also admitted new firms in Poland
Poland
Poland , officially the Republic of Poland , is a country in Central Europe bordered by Germany to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad Oblast, a Russian exclave, to the north...
, Hungary
Hungary
Hungary , officially the Republic of Hungary , is a landlocked country in Central Europe. It is situated in the Carpathian Basin and is bordered by Slovakia to the north, Ukraine and Romania to the east, Serbia and Croatia to the south, Slovenia to the southwest and Austria to the west. The...
and Romania
Romania
Romania is a country located at the crossroads of Central and Southeastern Europe, on the Lower Danube, within and outside the Carpathian arch, bordering on the Black Sea...
, continuing its drive to ensure full client representation across the Central and Eastern Europe
Central and Eastern Europe
Central and Eastern Europe is a term describing former communist states in Europe, after the collapse of the Iron Curtain in 1989/90. In scholarly literature the abbreviations CEE or CEEC are often used for this concept...
region.
In December 2009, RSM International’s member firm in the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
- RSM Bentley Jennison – merged with Tenon Group Plc to become RSM Tenon
RSM Tenon
RSM Tenon is a professional service firm based in the United Kingdom, listed on the FTSE SmallCap Index. The company was formed from the merger of the Tenon Group with RSM Bentley Jennison in December 2009. The company offers risk management, tax, recovery, financial management and business...
, the seventh largest accounting firm in the UK. RSM Tenon is a public company
Public company
This is not the same as a Government-owned corporation.A public company or publicly traded company is a limited liability company that offers its securities for sale to the general public, typically through a stock exchange, or through market makers operating in over the counter markets...
listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
, the first accountancy firm to be listed there
External links
- RSM International (official web site)