Keith Farlinger, Global CEO at BDO, comments:
“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.”
- BDO announces a total combined fee income of US$ 9.6 billion for the year ended 30 September 2019
- 10.1% year-on-year growth at constant exchange rates (+12.8% in Euro; +6.9% in US$)
- The results cement BDO’s position as the fastest-growing global accountancy and business advisory firm for the last 10 years
- Global headcount has increased 10% to 88,120 people across 1,809 offices in 167 countries worldwide.
- The Americas remains BDO’s largest region, with revenues over US$5bn representing 52.7% of the global total, followed by EMEA at 32.9% and Asia Pacific at 12.4%
- The Americas reported growth of 15.7% and the EMEA region 12.9%; spectacular growth reported in Pakistan (38%), India (30%) and Indonesia (21%)
- Double-digit growth also seen in Australia, Chile, Lithuania, Mexico, the Netherlands, Peru, Romania, Saudi Arabia and Singapore.
- Audit and assurance remains BDO’s largest contributor to global revenues at US$ US$4bn (42.4%)
- Tax revenues represent 21.1% of total revenues; Advisory 21.2% and Business Services & Outsourcing 15.4%
- Globally, BDO has completed more than 20 mergers and acquisitions in the year ended 30 September 2019
- Key mergers included BDO in Australia merging with boutique cloud accounting and business advisory firm Consolid8, and one of BDO’s biggest-ever mergers with Moore Stephens LLP in the UK
- The firm in the USA continues to be BDO’s merger leader, having acquired customs and international trade practice Global Trade Strategies Inc in Atlanta and crisis management and business continuity consulting and technology firm Lootok in New York.
- A plethora of smaller, equally important acquisitions have been seen worldwide, such as that with Grant Thornton in South Africa. While firms in Austria and Belgium have acquired ‘future-fit’ businesses in cybersecurity and digital solutions.
INVESTMENT IN INNOVATION
- An estimated US$300m has been invested in technology and innovation worldwide
- Working in collaboration with Microsoft, BDO has invested heavily in a globally scalable and secure platform, Apt Next Gen, which amplifies relationship between technology and data in the audit context
- Other highlights include the development of the BDO Innovation Hub, which has accelerated the co-creation of new ideas and tools across the globe, the Danish firm’s Business Inspection tool, New Zealand’s simulation game which was has been rolled our across 370 secondary schools, and Netherlands’ Security Sensor, a cyber-threat detection programme.
Note to editors
Accountancy and business advisory firm BDO LLP provides integrated advice and solutions to help businesses navigate a changing world.
Our clients are Britain’s economic engine – ambitious, entrepreneurially-spirited and high-growth businesses that fuel the economy.
We share our clients’ ambitions and their entrepreneurial mind-set. We have the right combination of global reach, integrity and expertise to help them succeed.
BDO LLP operates in 17 locations across the UK, employing nearly 5,000 people offering tax, audit and assurance, and a range of advisory services. BDO LLP is the UK member firm of the BDO international network.
BDO’s global network
The BDO global network provides business advisory services in 167 countries, with 88,000 people working out of 1,800 offices worldwide. It has revenues of $9.6bn.
Senior PR Manager, BDO LLP
07814 500 799
BDO press office:
020 7893 3000