DRegardless of the Corona disaster, the auditing and consulting firm BDO has for the primary time achieved revenue above the 300 million euro mark. Gross sales grew by 6.6 p.c to EUR 304 million within the 2020/2021 monetary 12 months. Because the fifth largest market participant in Germany, behind the 4 largest auditing teams PWC, KPMG, EY and Deloitte, BDO is pursuing an bold development course and has sharpened its profile by profitable the contract to audit the Dax firm SAP.
BDO boss Holger Otte confirmed in a press convention on Tuesday that he additionally wished to win one other mandate from the main index Dax. Otte described BDO as an auditing and consulting agency with a robust deal with auditing and highlighted the significance of the worldwide BDO community to which his firm belongs. In response to Otte, nearly half of BDO’s shoppers are associated to different international locations, and with out a international community like BDO’s, worldwide shoppers couldn’t be served adequately.
Software program as a aggressive issue
Regardless of the Ukraine warfare and excessive inflation, Otte sees good circumstances for BDO to proceed rising within the new monetary 12 months. The most recent mandate good points within the type of the Dax worth SAP, the meals group Theo Müller or the German subsidiary of Wall Avenue Financial institution JP Morgan should not included within the presently reported figures as a result of they solely have an effect on gross sales and income later. A aggressive benefit of BDO is that the community has built-in digital audit software program, which is in any other case solely widespread within the trade with the 4 major auditors. The software permits BDO’s auditors to speak with their colleagues in overseas member corporations and to entry the audit paperwork of all worldwide subsidiaries of a bunch to be audited. In response to Otte, this tools was an necessary prerequisite for profitable the contract to check SAP.
BDO has additionally expanded companies for household companies, a lot of which have very complicated and worldwide constructions, in accordance with CEO Andrea Bruckner. BDO’s gross sales have grown in all enterprise areas, together with the auditing phase. In response to Bruckner, the rise in testing gross sales by 5 p.c to 129 million euros primarily impacts massive household companies and listed corporations. The necessity for auditing and recommendation on all points of company administration primarily based on sustainable standards additionally contributed to development.
Gross sales from the tax and authorized recommendation division even elevated by greater than 9 p.c to 128 million euros. BDO board member Parwaz Rafiqpoor famous a considerably larger demand for tax recommendation from massive household companies and listed corporations. The expansion in consulting companies associated to M&A transactions was much less sturdy. Right here, given the restraint within the economic system within the second Corona 12 months, gross sales rose by solely 3.6 p.c to 46 million euros. The worldwide BDO community was additionally in a position to improve its whole gross sales previously monetary 12 months – by 10.8 p.c to 11.8 billion {dollars}.
