BDO USA grows revenues 4.2%
BDO USA LLP, the seventh-largest accounting firm in the country, announced that its revenues for the fiscal year ended June 30, 2018, had grown 4.2 percent, to $1.47 billion.
The firm has more than doubled its revenues over the past five years, becoming the only accounting firm to breach the billion-dollar mark this decade, thanks to a combination of frequent, high-value mergers and aggressive organic growth.
All of the firm’s service lines reported positive results, though its advisory practices were far in the lead, with an 8.7 percent uptick in revenues. Tax services grew by 3.7 percent, and assurance by 3 percent.
Advisory services are currently the smallest of the three practice areas, however, accounting for 17 percent of revenues, while tax represents 34 percent, and assurance 49 percent.
"In fiscal 2018, BDO USA continued to experience growth across each of its business lines as public and private entities, ranging from large multinationals to entrepreneurial start-ups, continue to be attracted to our commitment to client service," said CEO Wayne Berson, in a statement. "Moving forward, recent investments we’ve made in innovation across the firm – including added resources in technology solutions, digital transformation and data privacy in our advisory practice - position us well for continued growth in the coming years."
The firm is headquartered in Chicago, and has over 60 offices, more than 550 partners, and more than 6,400 employees.