We could have been dicks and not rounded $8.99 billion up to $9 billion, but we decided to be nice.
From BDO worldwide headquarters in Brussels on Dec. 11:
BDO, one of the world’s leading global networks of independent public accounting firms, has announced that worldwide revenue for all BDO Member Firms (including the exclusive members of Member Firms’ Alliances) for the year ended September 30, 2018, amounted to $8.99 billion. This represents year-over-year growth of 10.7%. BDO now has more than 80,000 total staff operating from 1,591 offices in 162 countries around the globe.
“2018 has been a year of growth and investment for the BDO network. Both public and private businesses are increasingly attracted to the critical thinking and excellent client service provided by our partners and professionals, as we advise them on the challenges of today and those on the horizon,” said Wayne Berson, CEO of BDO USA and Chairman of the Global Board of BDO International Ltd. “Moving forward, we will continue to invest in our people and in new technologies to ensure we continue to meet and exceed the expectations of our valued clients.”
Earlier this year, BDO was named the International Accounting Bulletin (IAB) Network of the Year for the second time in four years. BDO saw consistent growth across all regions in 2018, with the strongest revenue increase in EMEA (+17%), followed by the Americas (+7.8%) and Asia Pacific (+6.6%). The network has made substantial investments in information technology, not only in future-focused software and tools (artificial intelligence, blockchain, robotic process automation) but also in adding leading data analytics and technology advisory companies. BDO is also maximising alliances with industry-leading organisations, such as its global collaboration with Microsoft, to benefit the network and its clients.
We reported last August that Bravo Delta Oscar’s U.S. haul for the fiscal year that ended June 30, 2018, was $1.47 billion, up 4.2% from the previous fiscal year. BDO’s revenue in the U.K. increased 8.5% from £427.8 million in 2017 to £464.1 million in 2018.
But BDO U.K. is jacked about its pending merger with top 10 accounting firm Moore Stephens, which would bump BDO’s revenue to roughly £590 million, making it the fifth-largest firm in the U.K. (Sorry, Grant Thornton.) That merger could be finalized as early as next spring.
BDO Global CEO Keith Farlinger told City A.M. in London on Dec. 11 that the firm would rather dominate the middle market than join the ranks of the Big 4, saying, “We’re not looking to be as big as, or take a seat at the table with, the Big 4. We view our market as slightly different, and I think actually they view us as slightly different as well.”