BDO Maxes Out at $14 Billion in Global Revenue in 2023

BDO raked in $14 billion in revenue globally for the financial year ending Sept. 30, 2023, up 10.2% from $12.8 billion in 2022.

“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,” BDO Global CEO Pat Kramer said in a statement. “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 multidisciplinary firms have proven their readiness to adapt to shifting market dynamics and new technologies to meet evolving client needs. The success and the strength of our brand is underpinned by our ongoing investment in cutting-edge technologies and our people, reinforced by an unwavering commitment to quality and integrity.”

The firm’s Americas region had the highest revenue growth, up 57% over the previous financial year. BDO Canada’s revenue went up 13% while the U.S. had revenue growth of 9%. Last July, BDO USA said it had revenue of $2.82 billion for its 2023 fiscal year ending April 30.

In addition, BDO’s Europe, Middle East and Africa region saw revenues increase by 32% in 2023, and its firms in the Asia Pacific region had an 11% increase over 2022.

All of BDO’s core service lines—audit and assurance, advisory, tax, and business services and outsourcing—had year-over-year revenue growth, with tax leading the way at 10%, according to the firm:

• Advisory: 4% to $4 billion
• Audit and assurance: 7% to $4.1 billion
• Business services and outsourcing: 7% to $1.4 billion
• Tax: 10% to $2.2 billion

In 2023, BDO increased its global headcount by 3.9% to 115,661, adding specialists and subject-matter experts at all levels and across all service lines. BDO now has 1,776 offices in 166 countries and territories.