BDO'S MEMBER FIRMS have passed $6bn (£3.7bn/€4.6bn) for 2012 revenues.
The firms posted a 14% increase (in euros) on the previous year, to 30 September 2012, with Asia-Pacific the fastest growing region during the year.
The region saw 48.5% revenue growth, driven in particular by its China and Japan offices. Merger activity in BDO Australia has also contributed to fee growth.
BDO in Europe grew 4.6%, with France and Norway performing strongly – through both organic growth and mergers. Smaller Eastern European firms also performed well.
The Middle East grew 31.8%, while North & Caribbean saw double-digit increase, in particular with the US' performance.
Almost every country ember in Africa saw growth, with 8.4% across the region as a whole.
The number of BDO staff and partners has increased 12.4% to 54,933, with 7.4% more offices (1,204).
Martin van Roekel, CEO of BDO, said: "The continuing positive results clearly shown right across BDO testify to the demanding client service standards that all our firms must meet. Our dedication to exceptional client service is founded on the highest ethical and technical standards and we never compromise our independent and objective approach.
"The alignments realised between us and other mid-tier networks this year and last effectively demonstrate our mutual desire to lead, from a position of strength, the inevitable and long-overdue consolidation in our segment of the accounting profession. I am confident that we can expect not only a continued strengthening of our network performance in the months to come, but also of our worldwide presence."
There are frequently comments in the market that BDO include many affiliate firms in their numbers which are not really part of their network, particularly in the US. They also have multiple competing firms in the same country. You could say these figures should be taken with a pinch of salt.
Posted by: Mike, 22 Nov 2012 | 14:36
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