BDO CEO, Jeremy Newman, announces revenues of $5.2 billion for 2010

BDO, the world’s fifth largest network of independent public accounting firms, has announced that world-wide revenue for all BDO Member Firms (including the exclusive members of Member Firms’ Alliances) for the year ended September 30, 2010, amounted to $5.284 billion (U.S.). This represents an increase of 5.11% from last year. Revenues from assurance services accounted for 61% of combined fee income, with those for tax and advisory services representing 19% and 20% respectively. Total staff at BDO Member Firms 1,082 offices in 119 countries increased slightly from 46,035 to 46,930.

The Asia Pacific was the fastest growing region for BDO with an increase in combined fee income of 32%. This was followed by significant growth in Sub-Saharan Africa (+28%) and Latin America (+18%). Europe, the U.S. and Middle Eastern regions reported flat results or slight declines in revenue.

“We are very pleased that, despite the challenging economic conditions, our network’s overall revenues have grown by some 5 percent during the past year. Clearly the substantial expansion of our Chinese firm has had a significant positive effect on this performance,” said Jeremy Newman, CEO of BDO International, Ltd. “Our steady growth is evidence of BDO’s success in our primary objective to support our clients as they expand domestically and internationally and of our ambition to remain their preferred advisers in every market, wherever they find themselves doing business.”

BDO is a world-wide network of public accounting firms, called BDO Member Firms. Each BDO Member Firm is an independent legal entity in its own country. BDO International Limited is a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. The network is coordinated by Brussels Worldwide Services BVBA, a limited liability company incorporated in Belgium with its statutory seat in Brussels.

BDO is the brand name for the BDO network and for each of the BDO Member Firms. The combined fee income of all the BDO Member Firms was $5.28 billion in 2010. The global network has 1,082 offices in 119 countries and more than 46,000 people provide advisory services throughout the world. For more information please visit: www.bdo.com.