BDO Grows International Network Revenue to $7.3 Billion
BDO said Thursday that worldwide revenue for all BDO network’s member firms (including members of BDO firm alliances) totaled $7.3 billion for the fiscal year ended Sept. 30, 2015, a 12.95 percent increase year over year, at constant exchange rates.
Revenues from assurance services amounted to 59 percent of combined fee income, with tax and advisory services representing 20.4 percent and 20.6 percent respectively.
BDO now has more than 64,000 total staff operating from 1,408 offices in 154 countries around the globe. All regions experienced tangible revenue growth, led by the Americas (up 22 percent) and the Asia Pacific region (up 10 percent). BDO USA's revenue in the U.S. alone recently topped $1 billion. The network added new member firms in Greece, Kazakhstan, Rwanda, New Caledonia, Honduras, Nicaragua and the West Bank.
BDO's growth has been driven by sustained organic growth and 19 strategic expansions taking place in Australia, Austria, Canada, France, Germany, Italy, South Africa and the United States. For the second consecutive year, BDO USA led all member firms in both revenue growth and expansions, with the firm adding significant resources from the former UHY in Texas, SS&G in Ohio and Illinois, Stone Carlie in St. Louis and Cross, Fernandez & Riley in Central Florida.
“2015 has been a year of expansion for the BDO network," said BDO USA CEO Wayne Berson, who also chairs the Global Board of BDO International Ltd. "As we continue to grow the network, both public and private businesses are increasingly attracted to the breadth and quality of our services, as well as the industry expertise we provide on a global scale. Our efficient infrastructure will enable us to build on this positive momentum and continue at the forefront of the ongoing consolidation taking place in the industry.”