BDO Global Announces Robust 2023 Financial Results: Worldwide Revenues Top $14 Billion

CHICAGO, December 20, 2023 − BDO, one of the leading global networks of independent public accounting firms, announced robust growth across practices and regions to $14 billion (€13 billion) for the financial year ending September 30, 2023. This represents year-over-year global revenue growth of 10.2% USD (11.9% EUR). BDO USA helped propel this growth, reporting a year-over-year revenue increase of over 13% in July. 

“As a global organization, BDO continues to evolve and innovate,” said Wayne Berson, CEO of BDO USA and chair of the global board of directors of BDO International, Ltd. “This year’s strong financial performance is a testament to the hard work of our entire global team. We’ve achieved positive revenue growth through a dedicated focus on strategic areas of our business. This enables us to deliver exceptional client service, foster a culture of innovation and drive positive change towards a sustainable future for all.”

Highlights: 

• BDO’s largest region, the Americas, contributed 57% to global revenue, while the EMEA and Asia Pacific regions contributed 32% and 11% respectively.
• Global headcount expanded by 3.9%. BDO’s diverse global team of over 115,600 people operating from 166 countries and territories worldwide combine technical skill with local knowledge to deliver bespoke client solutions.
• Core service lines – Audit and Assurance, Advisory, Tax, and Business Services and Outsourcing – continue to grow in key markets, with trusted teams guiding clients through market uncertainty and adding value with client-focused solutions. Audit and Assurance remains BDO’s largest practice, accounting for 42% of revenue. Tax contributed 23%, Advisory 21% and Business Services and Outsourcing 14% of revenue.
• BDO remains deeply committed to exceptional client service. Quality is a strategic priority, and leadership has increased its efforts by continually developing independence, privacy and quality monitoring programs spanning the global organization.
• BDO is investing in digital solutions and AI, blending responsible digital intelligence with data analytics to generate insights, facilitate intelligence-driven decision-making, achieve efficiencies and generate cost savings. These investments also serve to attract and retain talent. This year, BDO expanded its strategic partnership with Microsoft. The collaboration will benefit Microsoft and BDO clients and continue the digital transformation of the global organization.

Pat Kramer, CEO of BDO Global, commented, “I’m proud of our robust financial performance in 2023, with broad-based revenue growth across all regions and service lines, building on an impressive 60 years of success. Despite global challenges like high interest rates, inflationary pressures and shifting geopolitics, we’ve continued to consistently upweight our efforts to foster client growth and win international business across our expanded global footprint. Our multi-disciplinary firms have proven their readiness to adapt to shifting market dynamics and new technologies to meet evolving client needs.” 

*Worldwide results were first reported by BDO Global. BDO’s global revenues incorporate revenue of firms’ Alliances, including BDO Alliance USA, one of the largest associations of independent accounting and professional service firms in the United States.