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June 10, 2012

BDO Australia to merge with PKF’s East Coast practices

BDO Australia is to merge with PKF’s East Coast practice following the loss of its Melbourne and Sydney offices to Grant Thornton Australia in April.

The integration will take effect on 1 July and combines the BDO and PKF offices in Brisbane, while re-establishing BDO’s presence in Melbourne and Sydney.

The combined entity will have 160 partners, more than 1,315 staff and bring in annual revenue of about A$240m.

This would make BDO the seventh largest firm, just below Grant Thornton which has estimated revenue of A$245m and 1,339 staff.

BDO Australia national chairman Tony Schiffmann said the merger would bring together two firms with similar cultures and values.

“A key driver to this arrangement was the clear value the leadership from BDO and PKF ECP see in bringing together like minded people striving for the same thing,” Schiffmann said.

For PKF Australia, the loss of its East Coast offices could lead a revenue loss of about A$90m if the practices are not replaced. PKF Australia reported annual revenue of A$132m in last year’s IAB Australia survey.

PKF Australia will continue to operate in its offices in Adelaide, Perth, Gold Coast, Hobart and Canberra while the hunt is on for new practices in Brisbane, Sydney and Melbourne.

“PKF Australia and its members are working closely with PKF International and Stephen Darley as its Asia-based regional director to settle on replacement member firms for each of Sydney, Melbourne and Brisbane,” the mid-tier network said.

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