The partnership will take place through a joint holding company. The new entity will have common governance and new branding.
“In the current environment of major technological disruption, companies need appropriate responses to increasingly complex and overlapping issues. Our partnership with the regional leader Orfis will strengthen our ability as an independent key player to support our clients across a wider range of issues,” commented Advolis President, Patrick Iweins.
The auditing and financial advisory fields are undergoing major structural changes: new opportunities for financial information processing (big data, digitalisation, artificial intelligence, etc.), issues around compliance, new legal and regulatory requirements (independence and quality of services).
“The accounting and consulting professions are still too segmented. Business leaders today require professionals capable of supporting them not only on their traditional needs but also on financial operations and throughout their various development phases”, explained Orfis President Jean-Louis Flèche.
He continued: “Joining with Advolis, a well-known player in auditing and consulting, will enable us to combine within a flexible structure the skills we are both known for, sharing common values, and with the ability to maintain very close client relationships. It will allow us to better meet their expectations, while also maintaining a high value-added level of service.”
The new entity will bring together 140 professionals in the audit, financial advisory and accountancy fields, with more than €18 million of turnover in 2017. It will benefit from an increased geographical footprint and a strengthened brand visibility at both national and international levels.
Extended service range with added value
The firm will combine strong and complementary expertise and expand the advisory side of the business. Clients will benefit from an already developed expertise in areas such as Big Data and compliance, to name a few.
“Thanks to our complementary locations and our pooling of expertise, our ambition is to enhance our position as a leading player, offering our clients a value-added service through long-term relationships”, concluded Jean-Louis Flèche and Patrick Iweins.
Advolis is an independent financial audit and advisory firm. It is well-established among a broad spectrum of clients, private businesses and state owned entities, mid-caps and large companies, as well as institutions and investment funds. Its offering is focused on financial, transactional and business risks management, and based on a complete range of services for investors, shareholders and managers. It relies in particular on auditing, transaction services, consolidation, valuation, corporate finance, monitoring trustee services and IT governance. Headquartered in Paris, the firm also has an international presence (Brussels, Hamburg). Advolis achieved strong growth in 2017 with turnover of €7 million.
Headquartered in Lyon, ORFIS is one of the leading independent audit, advisory and accounting firms in the Auvergne Rhône Alpes region. With multidisciplinary teams looking after its clients, its offering is focused on accounting and specialises particularly in tax and social auditing, valuation, mergers, consolidation, accounting expertise and even IT. It assists SMEs, start-ups, and major international groups at all stages of their development in France and internationally as part of an international network. Founded in 1992, the firm is located in six sites in the Rhône-Alpes and had a turnover of € 11 million in 2017.
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