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October 18, 2012

BDO Turkey merges with Asset LTD and EVC

BDO Turkey has merged with accountancy firms Asset Limited and EVC.

In a bid to augment its presence in Turkey, the accountancy network’s latest mergers increase its Turkish capacity to 13 partners with over 120 personnel based in Istanbul and Ankara.

BDO Turkey said it anticipates a €2m increase in revenue during 2013, which is around TRY4.7m. The increase is expected to widen the current small difference in revenue between the firm and Grant Thornton Turkey.

According to the latest International Accounting Bulletin Turkey survey BDO Turkey is the fifth largest mi-tier player in the market with revenues of TRY15.7m, while Grant Thornton reported TRY15.2m for year ended 31 December 2011.

BDO Turkey managing partner, Haluk Kaptanoglu, commented that the network was "delighted" with the mergers.

He said the incorporation of Asset LTD and EVC into BDO Turkey will "further strengthen" the 31 year old firm’s client service offering, as well as "their position in the Turkish market."BDO Europe’s chief executive Anders Heede said Turkey is an " increasingly important market" for BDO as the network serves its international clients.

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