BDO announces a total combined fee income* of US$11.8 billion/€ 9.8 billion for the year ended 30 September 2021, representing a year-on-year growth of 10.8% at constant exchange rates (+14.8% in US$, +7% in €) *including BDO’s exclusive alliances.
Audit and assurance continues to be BDO’s largest service line, accounting for 42% of revenues. Tax and advisory each contribute 21.5% and business services and outsourcing 15%.
Continuous investment – Driven by new needs
BDO clients have seen rapid and drastic change, with the biggest shift in the business world since the industrial revolution. The pandemic has driven all to think and work differently. BDO’s ongoing willingness to invest in cutting-edge technology has allowed the firm to stay close to the clients’ new needs and immediately respond, providing them with tools to help them achieve successful digital transformation and become a modern organisation of the future.
Keith Farlinger, Global CEO, said “I am extremely proud of how our organisation and our people, through relentless agility and team effort, have turned around our entire operating model to redefine the future of our work. At the same time, our firms have continued to operate with purpose; helping their people, their clients and their communities. Our WHY – People helping people achieve their dreams – has never been more pertinent.”
The digital client experience
BDO continues to invest in innovation and technology. By entering into a strategic partnership with Microsoft, BDO will drive digital transformation and help to increase the collaboration and productivity of BDO’s professionals. BDO is converging to a single global digital platform, with an agile service framework providing timely access to high-quality and secure organisation-wide IT services, standards, tools and technology.
BDO places user experience at the centre of all our IT systems and infrastructure. BDO provides a structured approach to use the cloud as an innovative and sustainable platform, and prioritize data intelligence, AI and data security to manage and protect the firm’s data and indeed customers privacy.
BDO’s connected, insights-driven and compliant audit digital suite supports intelligent processes and maintains business continuity, whilst reducing costs and increasing efficiency.
Sustainability agenda
In previous years, most of our firms have taken earnest independent steps towards sustainability. However, mounting risks and concerns have led to the emergence of a global sustainability movement. BDO responded. Early in 2021, an all-firm sustainability strategy was launched – both internal and external. It aims to inspire, educate and lead an unstoppable movement for sustainable business practice in our markets and in our organisation.
BDO has invested in new talents with a dedicated sustainability skill set. Our sustainability service offering supports our clients through their transformation process, to be fit for a sustainable future and create long-term competitive advantage.
Net zero commitment
The demand for transparency and accountability in environmental, social and governance (ESG) matters calls for an effective response.
BDO, as part of the Net Zero Financial Service Providers Alliance, has committed to supporting the goal of global net zero greenhouse gas emissions by 2050 or sooner, in line with the ambition to limit the global temperature increase to 1.5°C above pre-industrial levels.
Talent anywhere
BDO remains a people-powered business, seamlessly combining digital awareness with a true understanding of clients. The firm is building a generation of proactive advisers of the future, by attracting employees with diverse backgrounds and expertise; utilizing the skills of this talent will therefore remain a priority. Tomorrow’s organisation will be entirely different to the organisation of today. It will be more flexible. The pandemic has demonstrated that working and collaborating remotely is both possible and beneficial, creating new opportunities for BDO firms to work together for the benefit of the clients. Outsourcing, flexible resourcing and building expert teams (utilizing people from all over in the world) further delivers increased diversity and added value.
