BDO global revenues up 10%
5 Dec 2019
BDO’s global revenues rose by 10% last year to hit $9.6bn (£7.3bn), with the international network completing more than 20 mergers and acquisitions including one of its biggest-ever, combining with Moore Stephens LLP to become the fifth largest firm in the UK
5 Dec 2019
Globally, the Americas region provided over half of total revenues in the year ended 30 September 2019, with EMEA contributing a third.
Audit and assurance remained the largest contributor to global revenues at $4bn (42.4%), while tax revenues accounted for 21.1%, advisory 21.2% and business services & outsourcing 15.4%.
The Americas remains BDO’s largest region, with revenues over $5bn representing 52.7% of the global total, followed by EMEA at 32.9% and Asia Pacific at 12.4%. Revenues were up by 15.7% in the Americas, and increased by 12.9% in the EMEA region.
BDO says there was also strong growth reported in Pakistan (38%), India (30%) and Indonesia (21%), while Australia, Chile, Lithuania, Mexico, the Netherlands, Peru, Romania, Saudi Arabia and Singapore all reported double-digit growth.
Global headcount has increased 10% to 88,120 people across 1,809 offices in 167 countries worldwide, and BDO says it is the fastest-growing global accountancy and business advisory firm in the last 10 years.
The firm has invested an estimated $300m in technology and innovation worldwide to support collaborative working.
Keith Farlinger, global CEO at BDO, said: ‘It has been a landmark year for BDO globally, with continued organic growth and our selective ongoing merger and acquisition strategy paving the way for another solid year of growth.
‘I’d like to congratulate our 88,000 people for a truly great set of results in 2019. Their talent and commitment to quality, combined with the close relationships they build with their clients and colleagues across the world, have contributed to our global growth story.
‘This year all BDO firms have evidenced the power of technology and innovation, sharing knowledge and proactively advising clients with future-oriented solutions. In creating new ways to interact with our clients and with each other, we are shaping ourselves for the BDO of tomorrow.’