BDO said Monday that its network of member firms around the world achieved $7.02 billion in revenue for the fiscal year ended Sept. 30, 2014, an increase of 8.8 percent from last year.
The figure includes both BDO Member Firms and members of Member Firms’ Alliances. Revenues from assurance services accounted for 57 percent of combined fee income, with those for tax and advisory services representing 21 percent and 22 percent respectively.
The BDO network now has 110 member firms, with a little under 60,000 total staff members operating from 1,328 offices in 151 countries around the world.
BDO's growth has largely been driven by strong organic growth, five new member additions and 28 expansions that have led the consolidation of the mid-tier. Revenue growth was led by the United Kingdom (+27 percent), United States (+22 percent), Brazil (+17 percent) and China (+14 percent). The network added new member firms in Fiji, Reunion Island, Bangladesh, Papua New Guinea and Sierra Leone.
“2014 has been a year of impressive growth across the BDO network, increasing revenue both organically and through strategic acquisitions,” said BDO USA CEO Wayne Berson, chairman of the global board of BDO International Ltd., in a statement. “Acquisition activity was especially productive in the U.S., Canada, China, Norway and South Africa. We expect this to continue in 2015 as many member firms are poised for additional growth.”
