Chicago, IL – BDO, the world’s fifth largest network of independent public accounting firms, is pleased to announce a merger between the BDO Member Firm in Australia and the East Coast Practice of PKF. The transaction, which takes effect on July 1, 2012, adds PKF's Melbourne and New South Wales offices and combines the BDO and PKF offices in Brisbane. The merger will expand BDO Australia’s capacity to approximately 160 partners, more than 1,300 staff, and an estimated revenues of $240 million.
This announcement comes less than 3 months after BDO International Limited's revocation of its licensing arrangements with its former practices in Sydney and Melbourne, and re-establishes the network’s presence in these markets.
"The completion of this agreement within such a short timeframe is both remarkable and a testament to the strength of the BDO brand. I am delighted that we have established a strong, vibrant and long-term presence in Sydney and Melbourne, said Martin van Roekel, CEO of BDO International Limited. "The the two firms enjoy many synergies and a cultural alignment focused on client service. I am delighted to welcome them to BDO and look forward to seeing commensurate growth in BDO Australia as a whole.
BDO is a world-wide network of public accounting firms, called BDO Member Firms. Each BDO Member Firm is an independent legal entity in its own country. BDO International Limited is a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. The network is coordinated by Brussels Worldwide Services BVBA, a limited liability company incorporated in Belgium with its statutory seat in Brussels.
BDO is the brand name for the BDO network and for each of the BDO Member Firms. The combined fee income of all the BDO Member Firms was $5.67 billion in 2011. The global network has 1,118 offices in 135 countries and more than 48,000 people providing advisory services throughout the world. For more information please visit: www.bdo.com.