BDO announces financial results 2019: global revenues reach US$9.6 billion

December 10, 2019

TORONTO/BRUSSELS, December 10, 2019 — BDO announced a total combined global fee income1 of US$9.6 billion for the year ended September 30, 2019, representing a year-on-year growth of 10.1% at constant exchange rates (+12.8% in EUR; +6.9% in USD).

“BDO Canada is proud to be part of a strong global organization,” said Pat Kramer, CEO of BDO Canada. “Our culture of innovation continues to drive value for clients and improves business efficiency and profitability. This is one of the reasons we’ve experienced strong growth this past year and we’ll build on this momentum in 2020.”

In 2019, all BDO firms actively embraced the global dream and purpose: people helping people achieve their dreams. For BDO Canada, this shapes how we work with our clients, support our colleagues, and interact with our communities.

One of the benefits of having a clearly stated purpose is reflected in the organization’s consistent expansion in headcount, which is up 10% this year to 88,120 people. Our teams are inspired by our dream and purpose and want to work for BDO.

Now represented in 167 countries and territories, the Americas remains the organization’s largest region at 52.7%, with EMEA at 34.9% and Asia Pacific at 12.4%. BDO’s impressive growth is evident across all regions, with the strongest revenue increase in the Americas (+15.7%). The EMEA region also performed well (+12.9%), while in the Asia Pacific region, a number of firms have evidenced spectacular growth, including Pakistan (+38%), India (30%), and Indonesia (+21%).

Audit & Assurance remains BDO’s largest service line, bringing in 42.4% of revenue. This figure is less than in 2018, as Advisory and Business Services and Outsourcing have increased their contribution, at 21.2% and 15.4% respectively. Tax services income remains similar to last year, at 21.1%.

Strategic approach delivers financial strength

BDO firms focus on three core pillars to support growth and help our clients succeed.

Choosing to be leaders in our markets

BDO firms aim to be leaders in their markets by diversifying and providing new digital solutions that keep pace with technological transformation. This allows BDO to bring its clients insight and opportunities.

This approach is empowered by strategic merger activity and relevant business-critical acquisitions. Individual firms’ strong organic growth has also helped to strengthen several important local market leadership positions across all regions.

Choosing to lead in innovation

BDO sees innovation driving value for clients and improving business efficiency and profitability. The BDO Innovation Hub spearheads this culture by promoting innovative projects and encouraging collaboration. It has accelerated the co-creation of new ideas and the development of products, services, and tools to benefit both clients and BDO firms.

Choosing to lead as advisers of the future

BDO’s people make the difference—they are embracing AI and technology to improve the service and value they can create for their clients. While there has been a strong focus on enhancing the digital quotient (DQ) mindset of all professionals, the importance of human interaction has not been neglected.

The BDO difference lies in remaining a people business, one that combines digital skills with relationships built on trust and a deep understanding of clients. BDO people share a common objective: the proactive creation and implementation of business solutions and creating value for our clients.

For information on specific initiatives and activities in each of these areas, read the BDO Global press release.

1 Including BDO’s exclusive alliances

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