BDO USA LLP said Wednesday that its annual revenue for the fiscal year ended June 30, 2012, increased 8 percent to $618 million from the previous year’s revenue of $572 million, led by consulting services.
Revenue from the BDO Consulting unit jumped 36 percent. Tax services revenue grew more modestly at 9.9 percent and assurance services at 5.7 percent. The assurance business line represents 60 percent of BDO USA’s business. The firm’s tax line represents 29 percent and BDO Consulting accounts for 7 percent of revenues. Other services account for the remaining 4 percent.
“In fiscal 2012, BDO experienced healthy growth in the firm’s core assurance and tax services,” BDO USA CEO Jack Weisbaum said in a statement. “Driven by its industry focus, the tax practice is increasingly being sought out for consulting projects at large public and private entities in specialized areas such as compensation and benefits, as well as state, local and international tax matters.
“Growth at BDO Consulting has been fueled by the firm’s growing reputation for handling highly complex matters, such as the recently completed evaluation of the Gulf Coast Claims Facility, in addition to its core strengths in providing litigation support, e-discovery, fraud investigations and business restructuring services,” Weisbaum added.
BDO ranked 8th on Accounting Today’s 2012 list of the Top 100 Firms.