The largest accounting firm headquartered in B.C. is merging with Calgary-based MNP LLP — a move that will create an operation rivaling the foreign-backed accounting firms in the province.
The merger between MNP and KNV Chartered Accountants, which is based in Surrey and has offices in Vancouver and Kelowna, goes into effect February 1.
Accounting firms KPMG, PwC, Deloitte and EY all have more accountants based in B.C. than KNV but the “big four” — as they’re known — are all headquartered outside of the province.
KNV will fall under the umbrella of MNP and the combined operation will employ about 500 accountants with a total staff of 750 people, according to data calculated by Business In Vancouver. This would create the third-largest accounting firm in the province based on the number of accountants employed.
In terms of a presence in B.C., this will put MNP ahead of Deloitte’s 474 accountants and EY’s 249.
KPMG and PwC, meanwhile, will still have more accountants in B.C. — 888 and 605, respectively.
Staff at KNV’s and MNP’s current locations will eventually move into shared offices in their respective cities although it’s not known at this time when that will happen, according to a press release from MNP.
MNP first entered B.C. in 2002 and has offices in 15 locations throughout the province.
"British Columbia is a strategically important market for our firm,” MNP CEO Daryl Ritchie said in a statement.
“We have established a large foot print in B.C. and we will continue to enhance our offerings for all the economic sectors of the province. We are excited to have the people of KNV join us.”
KNV partner Dave Mitchell said in a statement said the merger came after realizing the company needed to grow to fit its clients’ needs.
“They (MNP) have a large national presence and access to many experts and specialists, as well as access to a global network of accounting firms and affiliations through Praxity—an international alliance of independent accounting firms.”
Ritchie and Mitchell did not respond to interview requests from Business In Vancouver by press time.
