BDO International said Friday the worldwide revenue of its network of accounting firms increased 7.36 percent for the year ended Sept. 30, 2011, to $5.672 billion, mainly due to growth in Asia, the Middle East and Africa.
Revenues from assurance services accounted for 61 percent of combined fee income, with tax services making up 19 percent and advisory services 20 percent. The BDO network has a total of 48,767 staff members working in 1,118 offices in 135 countries around the world. The network is the fifth largest globally.
“These positive results are testament to our commitment to operate as a seamless, integrated network, in which our firms are experts in the country in which they operate, while our shared global methodologies and rigorous quality assurance ensure that our clients experience the same service excellence worldwide,” said BDO International CEO Martin van Roekel in a statement.
The Middle East region was the fastest-growing part of the world for BDO, with an increase in combined fee income of 31 percent. This was followed by growth of 21 percent in the Asia Pacific region and 16 percent in Sub-Saharan Africa. Europe, North America and South America reported flat growth or slight declines in revenue, however.
