As of right now, BDO USA has locked down the sixth spot in the largest U.S. public accounting firms by revenue, after officially announcing this morning that its fiscal year 2021 revenue eclipsed $2 billion, an all-time high.
Bravo Delta Oscar came in at $2,000,300,000 for the 12-month period ending April 30, representing a year-over-year increase of 10.9%. Last year’s revenue topped $1.8 billion.
So that means BDO leapfrogged Grant Thornton for sixth place, a position GT has seemingly held forever. Grant Thornton would need an approximate 4.3% increase in revenue over last year to regain sixth place from BDO. We should know sometime in September how well Grant Thornton fared in its FY 2021.
Here’s BDO humbly bragging about its success during these trying times:
In fiscal year 2021, BDO combined with nine organizations, opening offices in new markets, deepening its presence in existing markets and adding new strategic offerings to complement existing services. Building on the firm’s organic growth, its expansion strategy contributed to revenue increases across all business lines, with advisory and tax seeing an increase in revenue of 17.1% and 17% respectively, as they responded to pandemic-related demand for services. Assurance (3%) also demonstrated growth thanks to an agile embrace of remote technology which enabled uninterrupted service delivery.
The biggest of those nine mergers was BDO hooking up with Miami-based firm MBAF, which was ranked 38th in the INSIDE Public Accounting top 100 in 2020, this past January.
BDO still has got a ways to go to catch RSM US for fifth place. RSM’s revenue was about $2.88 billion for FY 2021, which also ended April 30.
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BDO should acquire PWC and they’ll be in the Big 4. Internal growth vs acquisive growth needs to be a distinction.