BDO and Grant Thornton to merge in South Africa
The merger will see Grant Thornton offices coming under the BDO brand
BDO South Africa will merge with the Cape Town and Port Elizabeth offices of Grant Thornton, effective 1 March 2018.
Under the merger Grant Thornton offices will come under the BDO brand, creating a merged staff of 415 employees, including 35 partners and directors. The merger will bring BDO’s total staff count to 1,000 people.
BDO South Africa CEO, Mark Stewart, said: “The demand for in-depth expertise is increasing, with technical and industry advice in high demand. Critical to this merger is our ability to scale up and to leverage the opportunities created by the changes in the auditing profession, including the introduction of mandatory audit firm rotation.”
“BDO South Africa will now be in a far stronger position to take advantage of opportunities in the market and to provide a significant alternative to the competition.”
He added: “Many of the people now joining us are former BDO partners and staff and as such bring with them their BDO history and values. We believe that this will strongly complement and strengthen our culture.”
The merger fits with BDO’s growth strategy, which has seen the firm complete over 30 mergers and acquisitions worldwide in the last financial year.
BDO recently announced the promotions of 1,110 people across their UK offices.
