PracticeAccounting FirmsBDO growth just below 10%

BDO growth just below 10%

BDO International has announced a 9.6% increase in annual global fee income in what it called a 'difficult year for the profession.'

The firm, which has 589 offices in 98 countries worldwide, announced an increase in revenue from £1,397m in 2000 to £1,531m in the year to September 2001.

According to BDO, its income growth is above the 7.8% average for top ten accountancy firms, but still leaves the firm in sixth position among international accountancy firms.

The highest proportion of income came from audit/accounting assignments, which made up 58% of the earnings. Tax, was the second highest earner, accounting for 23% of the total.

Commenting on the results senior partner Chris Swinson said: ‘These are encouraging figures, particularly in view of the current financial climate.

‘While 2002 will not be an easy year for any accountancy firm, the specific sector that BDO serves will maintain the firm’s growth in the area of corporate finance, and other ancillary services such as litigation, corporate recovery and forensic accounting.’

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