| Type | Network of independent firms |
|---|---|
| Industry | Accounting Professional Services Tax Consulting |
| Founded | 1963 (in 1973 European members took on current name) |
| Headquarters | International Executive Office in Brussels |
| Products | Professional Services |
| Revenue | $5.284 billion USD (2010) [1] |
| Employees | 46,930 |
| Website | www.bdointernational.com |
BDO International is a worldwide professional services network of public accountancy firms, serving national and international clients. Each BDO Member Firm is an independent legal entity in its own country. The network, originally formed in 1963 as Binder Seidman International Group, is coordinated by BDO Global Coordination B.V., with an office in Brussels, Belgium. The name BDO, first devised in 1973, is an acronym of Binder Dijker Otte & Co.[1]
As at 30 September 2010, BDO Member Firms in 119 countries employed 38,922 professionals in 1,082 offices throughout the world.
Global fee income of all BDO Member Firms for the year ending 30 September 2010 totalled € 3,893 million (US$ 5,284 million), making BDO International the fifth largest accounting firm network globally.
Contents |
The largest member firms are:
All BDO member firms changed their names to BDO in 2009. The rebrand across 110 countries took just over five months.[2] The intention was to create global consistency, so that the BDO network could be presented as a single entity.
BDO Canada is one of Canada’s largest accounting services firms. Founded by James M. Dunwoody (affectionately known as "The Colonel" by BDO's employees) it opened its first location in the 1920s in Winnipeg, Manitoba. By the 1990s, Dunwoody and BDO Ward Mallette, a firm based out of Toronto had merged. The union also consolidated the firm’s affiliation with BDO International a global network of national accounting firms.
In 2007, BDO had 95 offices across Canada, with 1,200 professionals and over 300 partners. BDO’s services run from assurance, accounting and taxation services to financial advisory and corporate recovery. The company has merged a number of times, including the latest merger announced in October 2009 with the accounting firm of Hudson LLP.[3]
From the 1st of January, 2010, 'Dunwoody' was dropped from the company name to coincide with a global rebrand which saw all of the BDO member firms change their names to BDO. The rebrand, which included design, messaging, all of the separate global websites, marketing collateral and trickle-down implementation across the 110 countries took just over five months[4]. The intention was to create a global consistency, so that the BDO network could be presented as a single entity.
BDO Simpson Xavier is a partnership of chartered accountants in the Republic of Ireland formed by Anthuan Xavier and Dave Simpson in 1982. It is the Irish member firm of BDO International, the fifth largest worldwide network of professional service firms in the world. With offices throughout Ireland, the firm offers auditing, consultancy and tax services to a wide variety of organisations in the private and public sectors. Established by entrepreneurs for entrepreneurs, they are Ireland's leading advisers to entrepreneurial and growing owner-managed businesses and the people behind them.
BDO Simpson Xavier is the 5th largest accountancy firm in Ireland, with revenues of €62 million for the year ending 28 February 2006, and average revenue per partner of €1.5 million [1].
BDO Simpson Xavier head office in Dublin now has in excess of over 300 employees in a new building just off Stephen's Green. This building was until recently shared Finaref and Michael Page.
The names 'Simpson Xavier' were dropped in November 2009, with the firm adopting the worldwide branding of BDO. The rebrand, which included design, messaging, all of the separate global websites, marketing collateral and trickle-down implementation across the 110 countries took just over five months[5]. The intention was to create a global consistency, so that the BDO network could be presented as a single entity.
BDO Simpson Xavier is viewed as the biggest challenger to the "Big 4" accountancy practices. It has done this by being vociferous in the lack of competition for accounting services in the large corporate market and by developing its own award winning "successfully different" culture.
This has been publicly recognised by the following awards:
BDO Simpson Xavier has 3 offices in the Republic of Ireland:
BDO LLP is a partnership of chartered accountants in the United Kingdom. It is the UK member firm of BDO International, the fifth largest worldwide network of professional service firms in the world. With offices throughout the UK, the firm offers auditing, consultancy and tax services to a wide variety of organisations in the private and public sectors.
BDO is the 6th largest accountancy firm in the UK, with revenues of £312.2 million for the year ending 30 June 2010.[6]
The firm was founded in 1903 as Stoy and Co by Fred Stoy. In 1919, Jack Hayward joined the firm and it became Stoy Hayward and Co. A series of mergers with Finnie and Co in 1992 and the BDO Binder Hamlyn offices that did not join Arthur Andersen or Deloitte & Touche in 1994 created BDO Stoy Hayward, which became the UK member of BDO International.
The firm became a limited liability partnership in 2004.
The names 'Stoy Hayward' were dropped in October 2009, adopting the worldwide branding of BDO.[7] The rebrand, which included design, messaging, all of the separate global websites, marketing collateral and trickle-down implementation across the 110 countries took just over five months[8]. The intention was to create a global consistency, so that the BDO network could be presented as a single entity.
BDO is viewed as a major challenger to the 'Big Four' accountancy practices. It has done this by being vociferous in the lack of competition for accounting services in the large corporate market [9] and by developing its own award winning 'successfully different' culture.
This has been publicly recognised by the following awards:
BDO Stoy Hayward was criticised in their role as administrators for the collapsed Christmas hamper savings company Farepak.[12] BDO Stoy Hayward used an 0870 non-geographic phone service (termed by some "premium rate") to provide information for victims of Farepak's collapse. The criticism was at least partially based on the mistaken belief that BDO Stoy Hayward were taking a share of the call revenue to pay for the administration; this incorrect belief was later corrected by The Observer.
In September 2008, Andrew Caldwell, valuations partner at BDO Stoy Hayward, was appointed independent valuer for the stricken mortgage bank, Northern Rock plc[13]. The UK government nationalised Northern Rock in February 2008, and the legislation effecting the nationalisation required an independent valuer to ascertain the value of the business at the point of nationalisation. The role is a controversial one, as the legislation specifies in some detail the basis of valuation, and shareholder action groups claim that the valuation basis has been designed to minimise the compensation due.
BDO has 14 offices in the UK: