Accounting Firms

BDO global revenues reach $9.6bn

Accountancy firm BDO has reported global revenue of $9.6bn (£7.3bn), an increase of 10% when compared with the previous year.

For the year ending 30 September 2019, BDO revealed that audit and assurance remains BDO’s largest contributor to global revenues at $4bn (£3bn), with tax revenues representing 21.1% of total revenues; advisory 21.2% and business services and outsourcing at 15.4%.

It added that the Americas remains BDO’s largest region, representing more than half of total global revenues, followed by EMEA (32.9%).

During the period BDO also managed to complete more than 20 mergers and acquisitions and made $300m (£228m) of investment in innovation and technology.

The firm also revealed that its global headcount increased by 10% to 88,120 people across 1,809 offices in 167 countries, which it said “cements its position as the fastest-growing global accountancy and business advisory firm in the last 10 years”.

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.”

He added: “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.”

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