BDO reports total revenues of $14 billion/€13 billion in 2023 (fiscal year closing on September 30), marking a 10.2% annual increase from the previous year.
This year, the Firm has witnessed a 3.9% rise in employee numbers, bringing the total to 115,661 professionals distributed across 1,776 offices in 166 countries globally.
Regarding business sectors, audit and Assurance services remain pivotal for BDO, comprising 42% of the overall business. Tax and legal services contributed 23% to BDO's global billing in 2023, followed by Advisory services at 21%, and outsourcing (BSO) services forming 14% of the revenues.
On a regional scale, America has sustained steady growth. Notably, BDO in Canada saw a 13% increase, and in Latin America, most firms have experienced double-digit growth. In Asia-Pacific, despite overall strong performance, India has notably grown by 34%. In EMEA, particularly Europe, significant growth is evident, with Austria at 23% and Belgium at 21%. Germany and the United Kingdom have maintained stable and solid growth at 16%.
Carlos Sotillos, President of BDO Auditors, comments: “BDO’s progress is immensely positive, and we continue to expand in every region we operate in. Thanks to our team’s professionalism and dedication, we ensure top-quality, client-focused services enhanced by technological innovation, leading to increasingly efficient processes.”
Pat Kramer, Global CEO of BDO, states: “Despite global challenges like high interest rates, inflationary pressures, and geopolitical shifts, our Firm has consistently achieved positive growth across all regions and sectors throughout the year. This is due to the efforts of BDO offices worldwide in adapting to market dynamics and embracing new technologies to meet client needs and secure new global business. BDO’s success and robustness are underpinned by our ongoing investment in new technologies and our team, bolstered by a steadfast commitment to quality and integrity.”
Technology: A Catalyst for BDO’s Transformation
BDO continues to prioritize technology, investing in digital solutions and Artificial Intelligence. This approach enables better decision-making, tailors services to client needs, and streamlines processes, leading to cost savings.
The integration of technology has expanded our workforce and enhanced team training and skill development, making processes more efficient, automating tasks, and fostering effective collaboration.
Commitment to a Sustainable Future
BDO is devoted to a sustainable future, evidenced by its global sustainability program, which implements various initiatives for a lasting positive impact. Having pledged to achieve net-zero carbon emissions by 2050 through the Net Zero Financial Service Providers Alliance, BDO actively engages in emission calculations, setting net-zero goals, and annual reporting.