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April 2, 2013

BDO and PKF UK merger complete

BDO UK and PKF UK have completed their merger. The newly merged firm is to operate as BDO UK with 3,500 staff in 24 locations across the country

According to International Accounting Bulletin estimation the newly merged firm is to generate annual revenues of around £390m, making it the sixth largest network in the UK.

BDO UK managing partner Simon Michaels said that merging with a firm, "of the quality and size of PKF has created one of the strongest firms focused on the mid-market".

"We’ve got talented people, an ambition to grow from this position of strength and firm financial foundations. We’re proud to be at the forefront of the change in the market and, with the Competition Commission reporting back on its remedies to the FTSE 350 audit market, we will also be looking for opportunities to work with more FTSE listed businesses than ever before."

BDO UK and PKF UK announced their merger plans in November last year. PKF International is yet to announce a replacement firm. The loss of a UK member is a big hit to PKF International, which in 2012 also lost its East Coast Australia operations and several of its Chinese partners left to join BDO China.

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