Baker Tilly: Stability and Confidence

The pandemic has affected all types of business sectors, from SMEs to large international corporations. The sphere of consulting has not been spared from the pandemic’s influence. Despite these hard times, businesses still need the support of experienced consultants. Companies strive to optimize their costs while receiving high quality services from specialists that have broad consulting experience. One of these companies is Baker Tilly.

Who are we?

Baker Tilly is a leading international network of companies providing audit, consulting, financial advisory, risk management, tax and other related services. Baker Tilly operates in 146 countries with clients from a variety of industries.

Baker Tilly International and its member firms are part of the “Forum of Firms”. The purpose of the “Forum of Firms” is to promote consistent and high-quality standards of financial reporting and auditing throughout the world.

Today the company holds a leading position in the market and is among the TOP 10 largest consulting companies in the world. The global revenue of the network for 2019 amounted to $3.9 billion, CAGR for the period 2016-2019 was 6%. The major part of the network's income falls on audit and consulting services, 34% and 27% respectively, while tax practice occupies 24% and the remaining 14% are accounting and outsourcing.

What makes Baker Tilly Distinctive?

In order to share best practices and develop better methods, Baker Tilly International creates industry working teams that study the best examples of the member firms' achievements in their respective industries and activities. In order to bring together all member firms, Baker Tilly International has developed its own internal platform “Billy” that allows all members of our large team to communicate, share experiences, help and work together.

From a business perspective, the pandemic has identified clear market leaders. However, COVID-19 brought us together and Baker Tilly International became stronger, gaining key positions and entering new markets through strategic mergers and acquisitions, recruiting new employees and offering new services in areas that are critical to clients.

Comments from the members

It should be noted that all members of Baker Tilly International network make an integral contribution to the benefit of their clients. A prime example is Latin America. Baker Tilly's Regional Director for Latin America, Donny Donosso, noted that Baker Tilly in Chile, as well as many of our members in the region, has become a major advisor to companies on how they can benefit from government stimulus and recovery incentives.

"And we're seeing some really smart things operationally - things that probably we should have been doing all along! And these things aren't going to stop once we are through this pandemic. They'll continue and they’ll make us stronger," said Fred Kostecki, Managing Partner and Regional Leader for North America.

An equally important factor for clients is the value for money of the services they receive. "The Baker Tilly network and Baker Tilly Global Tax Solutions is well placed in the current climate to offer that value mix and we are seeing some strong trends from clients who need co-ordinated assistance globally," said Chris Danes, Tax Partner at MHA MacIntyre Hudson, the UK member of the Baker Tilly network.

Baker Tilly in Russia

According to Alexander Malkov, Baker Tilly's Partner in Russia, "at this difficult time, our firm decision to continue investing in new and existing service lines has allowed us to create not only a number of new directions, for example, new types of legal services, but also to improve the quality of existing services in other service lines through the use of new technologies and specialized software. All our activities are fully aimed at developing the key competencies of our employees and the company as a whole in order to offer our clients effective solutions for maintaining and increasing the value of their business, taking into account the specificity of both Russian and international business activities, particularly during these times".

According to the international rating agency RAEX (Expert RA), Baker Tilly in Russia is among the TOP-10 audit organizations, as well as the largest groups and companies in the field of outsourcing of accounting functions.

Baker Tilly Russia is represented by service lines such as assurance, accounting services, consulting, tax and valuation services, corporate finance, forensic and legal services.

Baker Tilly Russia ranks leading positions in the following areas:

• Preparation of financial statements (RAS) – 3^rd place

• Valuation – 4^th place

• Financial consulting – 5^th place

• Bank audit – 7^th place

• Staffing and office management – 9^th place

Baker Tilly’s achievements in Central Asia

Baker Tilly in Central Asia is part of the Baker Tilly International network and represents a combination of independent companies in countries such as Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan and Turkmenistan. The independence of these firms provides an opportunity to use the best international experience in the implementation of both domestic and international projects.

Baker Tilly Central Asia was officially awarded Gold Status for ACCA Approved Employer, confirming the high standards of staff training and continuous professional development. Baker Tilly Central Asia has successfully passed the USAID accreditation procedures and is included in the list of companies recommended for providing assurance services in Central Asia.

Baker Tilly Central Asia is officially included in the register of accredited consultants of the Russian-Kyrgyz Development Fund.

Baker Tilly Bishkek is ACCA's first and only officially approved exam center using Automated Examination Programs (AIE). The company is also ranked 1st by the number of employees and 3rd by revenue.

Baker Tilly Kazakhstan is included in the list of pre-qualified potential suppliers of investment holding NWF Samruk-Kazyna JSC, accredited with the European Bank for Reconstruction and Development (EBRD) and the World Bank. It also provides consulting services on valuation of the portfolio of pledged assets of the second-tier banks and is a certified ERG supplier.

As part of its market research services, Baker Tilly Kazakhstan has been an official contributor to S&P Global Market Intelligence Inc. since 2020, as well as an official partner of Forbes Kazakhstan in developing a methodology for banks rating and E-commerce ranking.

According to Ramina Nazyrova, Partner of Baker Tilly Kazakhstan-"In the current difficult situation due to the pandemic, our company is ready to consider any non-standard issues and find solutions for them. We are ready for the new constantly changing rules of the market. Our team is growing and improving, creating conditions for our clients to reach new heights".