BDO USA total fee income has increased 22.9 % in the year ending June 30, 2016, up to $1.29bn.
All service lines contributed to BDO’s 2016 growth, each achieving strong results. The firm's assurance line saw a 17% increase, tax 27% and consulting/advisory saw 31% rise in the fiscal year.
Overall, assurance made up 50%, tax 33% and consulting/advisory 17% of BDO USA’s business.
BDO USA chief executive officer Wayne Berson said the growth was driven by organic growth, up 13%, and the company’s ongoing expansion strategy, up 9%.
This is the third consecutive year that BDO USA’s revenue surpassed growth of 20%. Over the past four years, the firm’s revenues have more than doubled – from $618m in FY12 to $1.29bn in FY16.
BDO USA could overtake Moore Stephens International in the FY16 USA rankings and positioned itself as the 9th largest network in the USA just behind Baker Tilly. Indeed according to International Accounting Bulletin latest USA survey, Moore Stephen International reported $1.1bn in revenue in FY15 while Baker Tilly reported $1.3bn.
Latest rankings: USA survey: rankings