BDO International Limited has announced that world-wide revenue for all BDO member firms (including the members of Member Firms’ Alliances) for the year ended Sept. 30, amounted to $7.02 billion. This represents an increase of 8.8% from last year. Revenues from assurance services accounted for 57% of combined fee income, with those for tax and advisory services representing 21% and 22% respectively. The BDO network now has 110 member firms, with just under 60,000 total staff operating from 1,328 offices in 151 countries around the globe.
BDO’s growth has been driven by organic growth, five new member additions and 28 expansions that have led the consolidation of the mid-tier. Revenue growth was led by the U.K. (+27%), U.S. (+22%), Brazil (+17%) and China (+14%). The network added new member firms in Fiji, Reunion Island, Bangladesh, Papua New Guinea and Sierra Leone.
“2014 has been a year of impressive growth across the BDO network, increasing revenue both organically and through strategic acquisitions. Acquisition activity was especially productive in the U.S., Canada, China, Norway and South Africa,” says Wayne Berson, CEO of BDO USA and chairman of the global board of BDO International Ltd. “We expect this to continue in 2015 as many member firms are poised for additional growth.”