BDO International has reported 4% growth
in member firm revenues to €4.1bn ($5.7bn) in the year
to 30 September 2011.
BDO International is the largest
accounting network outside of the Big Four.
It’s audit revenue increased
marginally and amounts to 61% of the network’s fee split. Tax
services contributed to 19% and advisory services was 20%
of total revenue.
Middle East firm is the best
performing region for BDO with a 31% increase in revenues. The
region’s growth was led by a new firm in the Lebanon, which joined
the network in late 2010, and a new Saudi Arabian firm.
BDO’s Asia-Pacific revenues increased by 21%,
which was driven by a merger in Japan in January 2011 as well
as solid growth in Australia and in China, where the firm
merged with Grant Thornton’s former Hong Kong firm.
In Europe, BDO improved grew by 1% while BDO’s
Latin America region had a decline, largely due to the loss
of its Brazilian member firm to KPMG earlier in the
year.
“Throughout 2011, we have welcomed a number of
additional countries to the network, from the Far East to Central
Europe, and also seen some significant mergers with other firms,
most notably in Norway, and I fully expect a continued
strengthening in both our network performance and our network
presence in the year to come,” BDO International chief executive
Martin van Roekel said.
