BDO International Has Another Year of Double Digit Growth
“BDO has decidedly maintained its position as the uncontested number 5 in terms of world wide ranking of international accounting networks – despite a year that was not without its difficulties,” Frans Samyn, CEO of BDO International said in a prepared statement announcing year-end results for the BDO International network.
Total combined fee income for all BDO Member Firms worldwide, including the exclusive members of Member Firms’ Alliances, has again grown at double digit pace to total US$ 3,911.1 million – an increase of 17 percent on last year’s total of US$ 3,328.7 million. The results by region show that the Middle East excelled with growth of 24 percent, both Europe and North America grew by 12 percent, while Africa experienced 11 percent growth. The regional growth figures are based on revenues translated into euro and are therefore influenced by currency fluctuations.
The BDO International network now comprises 621 offices in 107 countries and a total of almost 30,000 staff members, representing a 7 percent increase over last year. Two new Member Firms, in Suriname and El Salvador, joined the network in 2006, however BDO’s sustained development worldwide in primarily attributable to consistently sound performance across every region, with 95 countries recording growth. Among countries reporting growth, 76 reported growth of more than 10 percent.
“While clearly belonging in the group of large networks – let’s call them the ‘4+2’ – BDO challenges the market model and provides a distinctively different option for clients,” Smayn concluded. “Our results, showing a percentage of increase that appears to be well in excess of the other network results announced to date, prove that we consistently demonstrate the global capabilities to serve large trans-national clients, wherever they are in the world.”