BDO Global Announces 2021 Financial Results: Solid Growth Takes Worldwide Revenues over $11 Billion
BDO Global Announces 2021 Financial Results: Solid Growth Takes Worldwide Revenues over $11 BillionMedia Contact:
CHICAGO, December 13, 2021 − BDO, one of the world’s leading global networks of independent public accounting firms, has announced that worldwide revenue for all firms (including the firms’ Alliances) for the year ended Sept. 30, 2021, was $11.8 billion, representing year-over-year growth of 10.8%. During the same period, global headcount rose 6.8%, with more than 97,000 people operating from 1,728 offices in 167 countries and territories around the world.
Wayne Berson, CEO of BDO USA, LLP and chair of the global board of directors of BDO International, Ltd., said “In 2021, we drew upon our culture and shared sense of purpose to continue weathering the pandemic. Our global organization and our people seized on the confluence of market factors altering the business landscape, seeing them as opportunities to better our business and our services for our clients. We are well positioned for the future because we have focused on resilience and on creating a business in which success is built - and maintained - sustainably.”
- BDO’s growth was consistent across all regions, with the strongest revenue increases in EMEA (17.4%) and Asia Pacific (16.9%), while the Americas grew by 12.6%.
- As BDO’s largest region, the Americas contributed 53% to the global revenue, while the EMEA and Asia Pacific regions contributed 35% and 12% respectively.
- Audit and Assurance remains BDO’s largest service line, accounting for 42% of revenues. Tax and Advisory each contributed 21.5%, while Business Services & Outsourcing contributed 15%.
Contributing to the Growth
- Continuous investment driven by new needs — Clients have seen rapid and drastic change, with the biggest shift in the business world since the industrial revolution. The pandemic has driven people and businesses to think and work differently. BDO’s ongoing willingness to invest in cutting-edge technology has allowed the firm to stay close to clients’ new needs and immediately respond, providing them with tools to help them achieve successful digital transformation and become a modern organization of the future.
- Talent everywhere — BDO remains a people-powered business, seamlessly combining digital awareness with a true understanding of clients. The pandemic has demonstrated that working and collaborating remotely is both possible and beneficial, creating new opportunities for firms to work together for the benefit of BDO’s clients. Outsourcing, flexible resourcing and building knowledgeable teams that utilize people from all over the world further deliver increased diversity and added value.
Keith Farlinger, the CEO of BDO Global, concludes, “We are at an intersection of people and purpose. It is vital that we keep our culture and our people at the forefront of our business. Our workforce will continue to evolve and adapt to the ever-changing global business landscape, embracing new technology, new ways of working, new skill sets and new talent. High performance teams, built with BDO professionals from anywhere in the world, will be tapping into the richness of that diversity and flexibility to drive success within our organization. Our purpose will remain our strength, and our people will continue to remain our biggest asset.”
About BDO USABDO is the brand name for BDO USA, LLP, a U.S. professional services firm providing assurance, tax, and advisory 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 skilled and committed professionals. The firm serves clients through more than 70 offices and over 750 independent alliance firm locations nationwide. As an independent Member Firm of BDO International Limited, BDO serves multi-national clients through a global network of more than 97,000 people working out of over 1,700 offices across 167 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.