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BDO rakes in $14B, setting global revenue record by 2023.

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TLDR:

– BDO, the global accounting firm, reported $14 billion in revenue for the financial year ending Sept. 30, 2023.

– This is a 10.2% increase from the previous year.

– The Americas region had the highest revenue growth at 57%.

– All core service lines experienced revenue growth, with tax leading the way at 10%.

– BDO increased its global headcount by 3.9% to 115,661.

– The firm now has offices in 166 countries and territories.

– BDO’s success is attributed to its investment in technology and people.

BDO, the global accounting firm, reported a record-breaking $14 billion in revenue for the financial year ending Sept. 30, 2023. This represents a 10.2% increase from the previous year’s revenue of $12.8 billion.

In a statement, BDO Global CEO Pat Kramer expressed pride in the firm’s financial performance, stating that the revenue growth was broad-based across all regions and service lines. Kramer also highlighted the firm’s ability to adapt to shifting market dynamics and leverage new technologies to meet client needs.

The Americas region experienced the highest revenue growth, with a 57% increase over the previous financial year. BDO Canada’s revenue went up by 13%, while the U.S. had a growth rate of 9%. In Europe, the Middle East, and Africa, BDO saw a 32% increase in revenues, and the Asia Pacific region experienced an 11% increase.

All of BDO’s core service lines, including audit and assurance, advisory, tax, and business services and outsourcing, saw year-over-year revenue growth. Tax had the highest growth rate at 10%, followed by audit and assurance at 7%, business services and outsourcing at 7%, and advisory at 4%.

In terms of global headcount, BDO increased its employee numbers by 3.9% to 115,661. The firm added specialists and subject-matter experts at all levels and across all service lines. BDO now operates in 166 countries and territories with a total of 1,776 offices.

The success of BDO is attributed to its ongoing investment in cutting-edge technologies and its people. The firm’s ability to navigate global challenges such as high interest rates, inflationary pressures, and shifting geopolitics has allowed it to foster client growth and expand its international business.

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