BDO announced a total combined fee income1 of US$ 9.6 billion / € 8.5 billion, for the year ended 30 September 2019, representing a year on year growth of 10.1% at constant exchange rates (+12.8% in euro; +6.9% in US$)
At year-end 2018, global CEO Keith Farlinger stated that his dream for BDO – focused on the concept It’s time for BDO to lead – is one of a people organisation that delivers innovation and value every day. As Keith himself puts it, “My ambition for BDO is to be a global organisation of leaders. We are one organisation, united under a common cause”.
In 2019 all BDO firms are actively embracing the global dream and bringing it to life in their day-to-day business. The organisation’s fundamental reason for being is outlined in its WHY, or purpose: People helping people achieve their dreams. This shapes how BDO people work with their clients, support their colleagues and interact with their communities.
One of the benefits of having a clearly stated WHY is reflected in the organisation’s consistent expansion in headcount, which is up 10% this year to 88,120 people: inspired by the WHY, people want to work for BDO. Working out of 1,809 offices worldwide, they are available to support clients as they grow and wherever they conduct their business.
Now represented in 167 countries and territories, the Americas remains the organisation’s largest region at 52.7%, with EMEA at 34.9% and Asia Pacific at 12.4%. BDO’s impressive growth is evident across all regions, with the strongest revenue increase in the Americas (+15.7%).
The EMEA region also performed well (+12.9%), while in the Asia Pacific region, a number of firms have evidenced spectacular growth, including Pakistan (+38%), India (30%) and Indonesia (+21%).
Audit & assurance remains BDO’s largest service line, bringing in 42.4% of revenues. This figure is less than in 2018, as advisory and business services & outsourcing have increased their contribution, @ 21.2% and 15.4% respectively. Tax services income remains similar to last year, @ 21.1%.