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What are member firms and correspondent firms?

RSM International is the brand used by a network of independent accounting and consulting firms. Each member of the network is a legally separate and independent firm. The brand is owned by RSM International Association. The network is managed by RSM International Limited. Neither RSM International Limited nor RSM International Association provide accounting or consultancy services. The network using the brand RSM International is not itself a separate legal entity of any description in any jurisdiction. Each member firm and correspondent firm is independent and is responsible for its own liabilities. Only member firms of RSM International are considered full members of the Forum of Firms through their member status in RSM International.

 
What is a member firm?

A member firm agrees to meet a number of high standards set by the International Board of Directors of RSM International. These standards relate to the quality and range of their services, as well as to other issues such as their size, location and branding. Member firms agree to apply global policies on quality assurance, auditing, ethics & independence and inspections, in compliance with applicable international standards.

Member firms complete an annual internal inspection programme, which is subject to a globally coordinated internal quality assurance review at least every three years.

 
What is a correspondent firm?

Correspondent firms agree to provide services and advice to clients or member firms in locations where, at present, there is no member firm.

A correspondent firm is expected to meet all legal or regulatory standards for the services they provide in their country, to conduct its audit and accountancy practice in accordance with, at a minimum, the International Standards on Auditing and the International Standards on Quality Control, and to comply with the IFAC Code of Ethics for Professional Accountants.

Correspondent firms are not subject to globally coordinated internal quality assurance reviews and are not obliged to comply with the RSM policies mentioned above.
 
References on this website
All references on this website to the services of RSM firms specifically relates to the services of member firms only.

RSM is the brand used by a network of independent accounting and advisory firms each of which practices in its own right.  The network is not itself a separate legal entity of any description in any jurisdiction. The network is administered by RSM International Limited, a company registered in England and Wales (company number 4040598) whose registered office is at 11 Old Jewry, London EC2R 8DU. The brand and trademark RSM and other intellectual property rights used by members of the network are owned by RSM International Association, an association governed by article 60 et seq of the Civil Code of Switzerland whose seat is in Zug.