As Marcum LLP's national practice has grown in recent history, so too have Marcum's international capabilities.
We now offer a full range of Assurance, Tax and Advisory services to clients operating businesses abroad as well as those headquartered abroad who seek financing in the U.S. markets. From international business structuring to audits to complex tax matters, our professionals bring the Marcum standard of best-in-class service and expertise to the international arena.
Marcum believes in maintaining strong relationships with, and taking an active role in, the direction and leadership in other organizations that share in our mission of helping clients identify their needs. We are proud to be a founding member of the Leading Edge Alliance (LEA), an international professional association of independently-owned accounting and consulting firms with an annual combined revenue in excess of $2 Billion USD in more than 90 countries with 430 offices and more than 14,000 total staff. In 2010, the LEA is ranked by the International Accounting Bulletin as the second largest international association of independent accounting firms in the world.
This global alliance enables member firms to access the resources of a multibillion dollar professional services organization while maintaining the consistency and quality service clients expect.
In addition, membership in the alliance enhances professional training and peer-to-peer networking opportunities as well as access to best practices in management, business processes and information technology.
The LEA expands Marcum's reach worldwide, leveraging the expertise and geographic presence of member firms. According to a recent survey by Accounting Today, the LEA has the largest number of Top 100 firms as members - a significant benefit to clients.
To further support our clients conducting business overseas, Marcum plays a leadership role in ECOVIS International, a global accounting and advisory network with members in 60 countries on six continents. As the exclusive U.S. member firm of this multinational professional services organization, Marcum can integrate local expertise and guidance to help our international clients address the complex tax and business issues they face in their operations in Europe, Asia-Pacific, Africa, Australia, and North and South America.
Headquartered in Zurich, Switzerland, with administrative offices in Berlin, Germany, ECOVIS International members provide tax, audit, accounting and legal services to international businesses dealing with cross border issues, family-owned enterprises, local branches of major corporations, government organizations and other entities.
In addition to expanding the Firm's global client services capability, Marcum's membership in ECOVIS gives clients of our overseas affiliates access to our deep expertise in the U.S. market. In our capacity as the organization's exclusive U.S. member firm, Marcum not only engages in specific client assignments, but also actively educates other ECOVIS affiliates about the intricacies and complexities of U.S. tax law and business operation.
Marcum understands the importance of staying up-to-date with national and international accounting practices. In a global economy, discerning accounting firms know the value in understanding financial reporting standards beyond their own countries. International Financial Reporting Standards (IFRS) are already recognized by many international bodies, including the European Union, Russia, Cooperation Council for the Arab States of the Gulf, Pakistan, India, Hong Kong, South Africa and Australia. Recently, the SEC removed the requirement for foreign private issuers reporting under IFRS to reconcile their financial statements to U.S. GAAP.
This impending development signifies an important shift in the acceptance of IFRS on a national and international level. As a leading accounting firm, Marcum is embracing the opportunity to offer clients access to top quality advice with respect to IFRS. We are experienced in auditing financial statements prepared in accordance with IFRS and consolidating foreign subsidiaries that have been prepared on IFRS for statutory audit purposes in the local jurisdiction.
In addition, Marcum recently joined forces with a well-established Asian firm, Marcum Bernstein & Pinchuk LLP. With five offices in China, Marcum is poised to support our international clients eager to operate their businesses in the United States or vice versa and to help educate them through the complex regulations regarding such ventures.