Forensic evidence of continued growth at BDO

The corporate restructuring and forensic services divisions both grew at a rate of 10% in the six months to December. Total national turnover for the period increased £14.2m, from £145.6m to £159.8m.

Managing partner Jeremy Newman said he expected firms to toughen up in the face of economic uncertainty and the recent high-profile fraud case at Société Générale.

‘Increasingly, a significant proportion of restructuring work includes a forensic element, which was not the case five or 10 years ago,’ he said. ‘There is a lot more determination to do something about losses being caused by failures along the line.’

The firm’s tax business showed the highest growth, at more than 20%.

‘Uncertainty over capital gains tax and the new rules for non-doms prompted a lot of people to review their finances,’ said Newman.

BDO was helped along by the acquisition of specialist tax firm Chiltern in October last year.

Chiltern’s growth accounted for at least 5% of the total tax growth, which Newman said was encouraging, given the short period of time since BDO had taken over the firm.

‘I am hopeful we will see growth within the Chiltern business as well as our own tax business,’ he said.