BDO, the world’s fifth largest network of independent public accounting firms, has announced that world-wide revenue for all BDO Member Firms (including the exclusive members of Member Firms’ Alliances) for the year ended September 30, 2014, amounted to $7.02 billion (U.S.). This represents an increase of 8.8 percent from last year. Revenues from assurance services accounted for 57 percent of combined fee income, with those for tax and advisory services representing 21 percent and 22 percent respectively. The BDO network now has 110 member firms, with just under 60,000 total staff operating from 1,328 offices in 151 countries around the globe.
BDO's growth has been driven by strong organic growth, five new member additions and 28 expansions that have led the consolidation of the mid-tier. Revenue growth was led by the U.K. (+27%), U.S. (+22%), Brazil (+17%) and China (+14%). The network added new member firms in Fiji, Reunion Island, Bangladesh, Papua New Guinea and Sierra Leone.
“2014 has been a year of impressive growth across the BDO network, increasing revenue both organically and through strategic acquisitions. Acquisition activity was especially productive in the U.S., Canada, China, Norway and South Africa," said Wayne Berson, CEO of BDO USA and Chairman of the Global Board of BDO International Ltd. “We expect this to continue in 2015 as many member firms are poised for additional growth.”
About BDO USA
BDO is the brand name for BDO USA, LLP, a U.S. professional services firm providing assurance, tax, financial advisory and consulting services to a wide range of publicly traded and privately held companies. For more than 100 years, BDO has provided quality service through the active involvement of experienced and committed professionals. The firm serves clients through 58 offices and more than 400 independent alliance firm locations nationwide. As an independent Member Firm of BDO International Limited, BDO serves multi-national clients through a global network of 1,328 offices in 151 countries.
BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO Member Firms. For more information please visit: www.bdo.com