Global fee income shows an impressive rise of 14%, from Euro 1,996 million (US$ 1,763m) in 1999 to Euro 2,276 million (US$ 2,010m) in 2000. Furthermore, in the last year BDO International has added 7 new countries and 20 offices to the global network, taking the total number of countries in which the organisation is represented to 95, with 552 offices. Staff numbers have increased commensurately, and as we enter the new year BDO has 2,104 partners and 18,835 professional and administrative staff providing auditing, accounting, tax, financial and management advisory services around the world. Audit/accounting and tax assignments continue to contribute the highest proportion of fee income, at 53% and 26% of the total respectively.
Together, the Americas and Europe supply some 86% of the global income, but performance in Africa and the Middle East has also exceeded expectations, and the Asia Pacific region continues to flourish in the aftermath of the financial crisis there.
Each region has shown at least double digit % growth, with the USA in particular contributing nearly 40% more to world wide fee income than last year. Other countries with substantial fee income increases include the Netherlands, where the merger with Walgemoed earlier in the year has had a significant effect, and Luxembourg, again largely due to their merger with Compagnie Fiduciaire. In Australia, Ireland and the UK the upsurge in income is attributable in the main to organic growth, although strategic alliances with other firms, and an increase in e-business have also played a part.
Cecil Fleming, CEO of BDO International, reiterates that BDO International is content to remain outside the ‘Big 5’, comparison with whom is seldom valid. ‘Our organisation is the largest in our chosen market area, and our client base reflects this. We know our strengths, and continue to be approached by firms from both larger and smaller organisations. Our aim has always been to be the leading adviser to growing businesses, and that has stood – and continues to stand – us in good stead’.
