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June 29, 2011

BDO claims it is third largest auditor in Norway

Following the merger with Inter Revisjon, BDO claims it is the third largest provider of audit and assurance services in Norway.

Despite its increase in size, BDO Norway managing partner Trond-Morten Lindberg told the International Accounting Bulletin the firm plans to continue to focus on middle market clients.

“We will continue to develop a range of services designed for the middle market and the upper level of the middle market. We will focus on differentiating BDO from the Big Four through our local and solution-oriented approach,” Lindberg said.

Lindberg said BDO approached Inter Revisjon to improve its tax offering and coverage in key cities.

“BDO and Inter Revisjon have established a similar corporate culture,” Lindberg said. “With that kept in mind, together with their position in strategic important cities as Bergen, Trondheim and Molde, it was easy to name Inter Revisjon as the most wanted merger partner in the Norwegian marketplace.

“Inter Revisjon brings in a service line of 285 auditors in addition to an advisory department of 15 people. Together we will be a significant player in the Norwegian audit, tax and advisory market.”

BDO is the fifth largest firm in Norway with annual revenues of €125m ($178m). KPMG, the smallest of the Big Four in Norway, reported revenues of $172m in 2009, however, the firm is believed to have grown in the past fiscal year and would be larger than BDO.

Lindberg said BDO’s immediate plans are to integrate the two firms and continue to capture market share and make the most of opportunities arising from new regulation.

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