• BDO announces Financial results 2021

Solid growth takes global revenues over US$ 11 billion

14 December 2021

A solid 10.8% increase in global revenues to US$ 11.8 billion, up from US$ 10.3 billion in 2020, reflecting the strong demand from clients for BDO’s expertise in a fluid business landscape. 

BDO-Malta-BDO-announces-Financial-Results-2021

Conscious investments, enabling BDO’s clients to be well positioned for the economic resurgence in the year ahead, have driven BDO’s balanced growth across the board, with global revenues reaching US$ 11.8 billion, supported by a strong 6.8% increase in headcount. 

  • A solid 10.8%* increase in global revenues to US$ 11.8 billion, up from US$ 10.3 billion in 2020, reflecting the strong demand from clients for BDO’s expertise in a fluid business landscape. *at constant exchange rates 

  • BDO’s clear focus on audit quality, innovation, transformation, technology and sustainability has helped both BDO firms and their clients to easily adapt to a new future. 

  • People numbers have significantly increased, with a marked shift towards new profiles. BDO’s 97,292 professionals are combining future-oriented technology with authentic intelligence to create smarter working environments in 1,728 offices. 

  • BDO’s stated purpose, our WHY, has proven its worth. It is a core element of our culture, shaping who we work with and how we support our colleagues, our clients and our communities. It is reflected in everything we do. 

Continuous investment – Driven by new needs 

Our clients have seen rapid and drastic change, with the biggest shift in the business world since the industrial revolution. The pandemic has driven us to think and work differently. BDO’s ongoing willingness to invest in cutting-edge technology has allowed us to stay close to our clients’ new needs and immediately respond, providing them with tools to help them achieve successful digital transformation and become a modern organisation of the future. Our firms are now more connected than ever, sharing resources to support our clients and committed to growing business together. 

Keith Farlinger, Global CEO, said “I am extremely proud of how our organisation and our people, through relentless agility and team effort, have turned around our entire operating model to redefine the future of our work.  At the same time, our firms have continued to operate with purpose; helping their people, their clients and their communities.  Our WHY – People helping people achieve their dreams – has never been more pertinent.”

Focus on Audit Quality  

2021 has also been a period characterised by evolving regulatory standards and expectations. BDO remains committed to strengthening our culture of quality – enabling our firms to deliver high-quality services. As part of BDO’s ongoing mission to drive quality throughout the organisation, Regional Quality Directors were appointed for each of the Americas, Asia-Pacific and EMEA regions.  Their focus is on creating, strengthening and maintaining high levels of quality and consistency in compliance and practice. 

Talent everywhere

BDO remains a people-powered business, seamlessly combining digital awareness with a true understanding of clients. In 2021, BDO firms recorded the largest ever intake of new partners and staff (+6.8%), many of whom are skilled in sustainability and digital advisory or with a background in STEM (Science, Technology, Engineering and Mathematics). 

Tomorrow’s organisation will be entirely different to the organisation of today. It will be more flexible. The pandemic has demonstrated that working and collaborating remotely is both possible and beneficial, creating new opportunities for our firms to work together for the benefit of our clients. Outsourcing, flexible resourcing and building expert teams (utilising people from all over in the world) further delivers increased diversity and added value.      

The power of purpose 

As a purpose-driven organisation, we do better. Our WHY – People helping people achieve their dreams - shapes who we work with and how we support our colleagues, our clients and our communities. It is reflected in everything we do. 

Keith Farlinger concludes: “We are at an intersection of people and purpose.  It is vital that we keep our culture and our people at the forefront of our business. Our workforce will continue to evolve and adapt to the ever-changing global business landscape, embracing new technology, new ways of working, new skill sets and new talent.  High performance teams, built with BDO professionals from anywhere in the world, will be tapping into the richness of that diversity and flexibility to drive success within our organisation. Our purpose will remain our strength, and our people will continue to remain our biggest asset.” 

Download the press release to learn more.

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