BCCJ Member Spotlight: Jean Francois Salzmann, Forvis Mazars

June marked the creation of Forvis Mazars, a new top 10 global network consisting of two members: Forvis, the eighth largest public accounting firm in the United States, and Mazars, a leading international audit, tax and advisory firm. Designed to be agile, deliver consistency and have the global scale to meet client needs, the uniquely formed network offers a new model of a global professional services network, which operates under a single brand worldwide.

With 2024 therefore a landmark year, The British Chamber of Commerce in Japan spoke to Jean Francois Salzmann, managing partner of Forvis Mazars in Japan, to hear more about Forvis Mazars and its plans for the future.

What drove the creation of Forvis Mazars? 

Forvis Mazars is a strategic formation of Forvis Mazars Group SC, an internationally integrated partnership operating in over 100 countries and territories, and Forvis Mazars LLP in the United States. As a network, we provide an unmatched client experience, delivering audit & assurance, tax, advisory and consulting services around the world, enabling us to deliver on our strategic mission: to move our clients, people, industry and communities forward.

The network is a result of a long-standing relationship between the two firms, which have worked together for more than 20 years through Praxity, a global alliance of independent accountancy and consulting firms, and the Mazars North America Alliance. The decision to come together under the Forvis Mazars brand reflects our shared vision and commitment to always look ahead to provide better opportunities for our people and clients. The collaboration is not merely a partnership or a merger in the traditional sense, but rather the creation of one global brand, which is equally stronger and better together.

What is at the core of your DNA?

Distinct from other international professional service providers, our DNA is reflected in our global network and service offerings. Forvis Mazars has positioned itself as a firm that values forward-thinking and vision, as indicated by the name Forvis, a contraction of “forward” and “vision.” We have a strong focus on serving international clients and providing a diverse array of services, including audits, consulting and tax advice.

In addition, Forvis Mazars prides itself on its collaborative culture and ability to offer personalised services to clients. We emphasise the importance of understanding and respecting diverse perspectives, which is a core part of our DNA. This approach is evident in the way we operate and engage with clients, striving to provide the highest value and build long-term relationships.

In summary, we differentiate from the competition by our commitment to forward-thinking, personalised client service and strategic use of technology to enhance our services. This approach contributes to our unique position in the market.

What is your track record in Japan?

Forvis Mazars has been established in Japan for more than 30 years, originally with a focus on servicing foreign companies in Japan. Recently we extended this “inbound” strategy with an “outbound” strategy, focusing on Japanese companies primarily with international business or funding. Both strategies have been extremely successful and we have grown significantly, with a team of now almost 300 professionals and a revenue increase of over 120% compared to the 2020/2021 period. We have a strong track record in helping businesses internationalise, offering flexible and scalable outsourcing services and providing clients with top services in audit, outsourcing, advisory and tax.

Now, with a strong multicultural team on the ground in Japan and a global presence, Forvis Mazars is equipped to become the service provider of choice in Japan for any business with international ambitions. We provide support in areas such as accounting and reporting, payments and bank relationships, HR and payroll, corporate secretarial, and business licenses and immigration.

Forvis Mazars in Japan also offers a comprehensive range of audit services, including IFRS audits in accordance with Japanese and international standards. As of today, we are the only Japanese audit firm able to audit Japanese foreign issuers on the NASDAQ.

Why is the Japanese market important to Forvis Mazars?

The Japanese market is not only a hub for domestic business but also a critical gateway for international business activities, reflecting our particular niche in cross-border business. Japan is key to our overall global reach and strategy, as well as our ability to provide seamless services to clients worldwide. We have been successful in establishing a strong presence and reputation in Japan and the region. Japan is a key market in Forvis Mazars’ expanded global network.

What are your short- and long-term plans in Japan?  

We aim to leverage our strong track record in helping Japanese businesses internationalise by offering flexible and scalable outsourcing services, which is a low-risk way for companies to grow their business in new geographic areas. This approach allows companies to draw on specific skills and expertise as needed, while managing costs and providing flexibility in resourcing and skills.

In the long term, Forvis Mazars is committed to addressing the developments reshaping the audit industry, such as shifting market expectations, expanding regulatory requirements and the transformative impact of technology on audit processes. We are also dedicated to sustainability, having joined the global Science Based Targets initiative (SBTi) and implemented a global net zero plan across all countries where we operate. These actions demonstrate our commitment to building trust and quality in the audit market and ensuring that auditor independence remains the cornerstone of an evolving audit ecosystem.

As we continue to build on our strong foundations in Japan, offering a balanced multidisciplinary service offering, we will strive to become the provider of choice for all professional services related to cross-border companies and activities.