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.
