BDO in USA announces 2019 results: Seven consecutive years of growth with revenues more than doubling
19 September 2019
BDO in the USA announced on 17 September revenues of US$1.64 billion – representing a year-over-year increase of 11.8% – for the fiscal year ended 30 June 30 2019. This is the seventh consecutive year of growth for the firm under Wayne Berson’s leadership. BDO partners re-elected Berson for a third term as chief executive officer, a position he will hold through 30 June 2024.
“Wayne and his leadership team have brought our firm incredible success over the past seven years,” said Bill Eisig, chairman of the board of directors of BDO USA. “His commitment to the values that define BDO and a growth strategy that includes championing innovation, providing exceptional client service and building a world-class workforce has transformed our firm. With his term extension, Wayne will continue to lead BDO forward and ensure we are delivering on our clients’ complex needs and challenges.”
Since becoming CEO in 2012, Berson and his leadership team have guided BDO from annual revenues of $618 million to $1.64 billion by expanding service offerings, implementing a robust growth strategy and opening offices in an additional 24 cities. BDO’s record growth in FY19 was achieved across all business lines, most notably from advisory, which saw revenue growth of nearly 40%, while tax (+8.4%) and assurance (+4.3%) also achieved strong growth.
“We’ve built a strong reputation for consistently delivering innovative, high-caliber solutions for our clients with exceptionally talented people,” said Wayne Berson, CEO of BDO USA. “We’re committed to investing in our infrastructure, services and people to foster continued success and drive growth across all our business lines, which will keep BDO well positioned to serve our clients in a rapidly-changing world.”
Over the past year, BDO USA significantly expanded its core accounting, tax and advisory services through organic growth, and also welcomed eight specialized tax and advisory firms serving a wide range of industries. The firm’s assurance, tax and advisory business lines represent 46%, 33% and 21% of revenues, respectively.
Berson joined BDO in 2001 and has served as CEO since 2012. He is currently the chair of the global board of directors of BDO International, Ltd. and will serve as vice chair of the governing board of the Center for Audit Quality (CAQ), effective Oct. 1. Prior to serving as CEO, Berson was the Atlantic Assurance regional managing partner and chairman of the BDO board of directors.
About BDO USA
BDO is the brand name for BDO USA, LLP, a U.S. professional services firm providing assurance, tax, and advisory services to a wide range of publicly traded and privately held companies. For more than 100 years, BDO has provided quality service through the active involvement of experienced and committed professionals. The firm serves clients through more than 60 offices and over 500 independent alliance firm locations nationwide. As an independent Member Firm of BDO International Limited, BDO serves multi-national clients through a global network of more than 80,000 people working out of 1,600 offices across 162 countries.
BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO Member Firms. For more information please visit: www.bdo.com.