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BDO has rolled out its global financial results, describing it as a successful year despite ongoing challenges.
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‘We rally together’: BDO delivers financial results
06 January 2022
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For the year ended 30 September 2021, BDO recorded a total combined fee income for all firms, including exclusive alliances, amounting to US$11.8 billion. The figure represents year-on-year growth of 10.8 per cent.
Commenting off the back of the results, which were released by BDO Global in mid-December, BDO in Australia chief executive partner Tony Schiffmann said: “Our global financial performance is characterised not just by a strong financial result, but by resilience and the value that comes from our many relationships.
“It wasn’t an easy year for many reasons, but I am extremely proud of the way our teams rallied together to meet, and in many cases exceed, our clients’ expectations. Importantly, our focus on supporting each other also didn’t waver. I believe this is what positioned BDO so well for growth despite an environment characterised by continual change and uncertainty.”
Speaking on the firm’s Australian presence in particular, Mr Schiffmann said BDO continues to see strong demand, which is reflective of both how the firm services its clients, as well as its focus on attracting and retaining “high calibre talent”.
“Most pleasingly, our internal pipeline of partners and future leaders is incredibly strong,” he noted.
“We don’t step away from nurturing our talent when things get tough and we remain committed to developing the people who will guide our firm in the years ahead. We are building a generation of proactive advisers of the future and utilising the skills of this talent remain a priority.”
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Looking ahead
For Mr Schiffmann, the new year presents an opportune time for the firm to continue its forward-thinking approach, particularly when responding to global challenges.
“Over the past two years, we have seen a dramatic shift in the business world, with the pandemic forcing us to think and work differently. We haven’t shied away from this new way of working – in fact, we have embraced it,” Mr Schiffmann said.
“Our willingness to invest in cutting-edge technology like APT Next Generation and the BDO Global Portal, has connected us in ways we have never experienced before, allowing us to retain our focus on delivering exceptional service and advice our clients can trust.
“While the pandemic may have accelerated our need to adapt to new working practices, it has also demonstrated that working and collaborating remotely is both possible and beneficial. We are more connected than ever before, working together to support our clients, our colleagues and our communities.”
This connectivity will remain key for BDO moving forward, Mr Schiffmann said.
“2021 has undeniably been another challenging year, with the impact of COVID-19 continuing to test our resilience and perseverance. I am very optimistic about the future. I know, no matter what challenges may lay ahead for us in 2022, we will continue to rally together and support each other, not just in the delivery of exceptional client service, but as peers, teams and friends,” he explained.
“Our purpose will remain our strength, and our people will continue to be our biggest asset.”
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