BDO is an international network of public accounting, tax and advisory firms which perform professional services under the name BDO. It announced on 14th December 2016 a total combined fee income for the year ended 30th September of US$7.6 billion, which represents a year on year growth of 8%, at constant exchange rates.
The BDO network’s global representation has expanded from 154 to 158 countries and territories. Global headcount has increased by 5.33%, with 67,731 people now working out of 1,401 offices worldwide.
This tangible growth in revenues can be attributed to:
• The network’s successful mergers and acquisitions strategy, aided by the continuing consolidation of the accountancy profession
• New firms both expanding the network’s global footprint and bolstering performance in existing key territories
• Sustained organic growth across all regions
• The drive to adapt and transform the delivery of exceptional client service through the application of powerful new technologies
“Not only is our expansion strategy reaping greater rewards, we are also rapidly gaining a reputation as one of the most innovative networks in our profession”, comments Martin van Roekel, Global CEO of BDO. “The concurrent challenges of increasing costs, a shrinking talent pool and the need to invest and to manage regulatory demands mean that many firms and networks outside the largest six are having to consider mergers and/or acquisitions in order to survive.
“At BDO, we recognise that further mid-tier consolidation is inevitable – and we have planned for it. We have a long-term investment strategy in global infrastructure, technology and talent that not only ensures that we can provide exceptional service to our clients, but gives us the momentum and power to continue at the forefront of the ongoing consolidation in the mid-tier of our profession.”