For the past two years, FIDI Global Alliance (the International Federation of International Movers) has been piloting a yearly financial assessment of its Affiliates, audited by the internationally recognized firm EY. This financial assessment is part of the FAIM Compliance Process, which each FIDI member needs to comply with.
FIDI has released the second year of its report from EY (Ernest & Young), assessing the creditworthiness of international movers from around the world. The EY Credit Barometer (EY CRB) is a unique tailor-made solution for FIDI taking into account both long term and short-term financial ratios, in order to assess the risk of a FIDI Affiliate not being credit worthy.
It uses financial statements of the previous year and returns one single value to indicate the credit worthiness of an Affiliate. That single value is calculated based on three different types of ratios: Solvency, Liquidity and Profitability.
– Solvency is the ability of a company to meet its long-term financial obligations.
– Liquidity is the ability of a company to meet its short-term financial obligations.
– Profitability is the ability of a company to generate earnings compared to its costs.
95% of FIDI members participated in the assessment with:
– 82% deemed as ‘low risk’.
– 73% deemed as ‘low solvency risk’,
– 41% deemed as ‘low liquidity risk’
– 17% deemed ‘low profitability risk’.
– 78 of the 434 international moving companies were deemed as ‘medium or high risk’.
We are delighted to confirm that John Mason International ranked ‘low risk’ across all three ratios. This independent financial assessment by EY offers reassurance to consumers that the John Mason International is both financially secure and healthy compared to 18% of International movers based within the UK & Europe who have been identified as being medium or high financial risk.
FIDI is the largest global alliance of professional moving companies. All FIDI members need to have FIDI FAIM certification which is the industry’s leading quality standard.
FIDI FAIM accreditation is only awarded to companies who have been independently audited and who have proven that they satisfy the most stringent, industry-specific standards of customer care. FIDI FAIM certification is a quality guarantee for your move, giving you peace of mind that you are dealing with a professional moving company