BDO International
Encyclopedia
BDO International is a worldwide professional services network
of public accountancy
firms, serving national and international clients. Each BDO Member Firm is an independent legal entity in its own country. The network, originally formed in 1963 as Binder Seidman International Group, is coordinated by BDO Global Coordination B.V., with an office in Brussels, Belgium. The name BDO, first devised in 1973, is an acronym of Binder Dijker Otte & Co.
As at 30 September 2010, BDO Member Firms in 119 countries employed 38,922 professionals in 1,082 offices throughout the world.
Global fee income of all BDO Member Firms for the year ending 30 September 2010 totalled € 3,893 million (US$ 5,284 million), making BDO International the fifth largest accounting firm network globally.
- Formerly BDO Kendalls - BDO Atrio - BDO Trevisan - - :fr:BDO France - BDO AG - BDO CampsObers - Formerly known as BDO Spicers - Formerly known as BDO Noraudit & Co. - BDO Canada LLP - BDO LLP - BDO Seidman, LLP
- BDO Russia - BDO Simpson Xavier - BDO Limited - BDO Haribhakti & Co. - BDO ScanRevision - BDO Visura - BDO Nordic - BDO Audiberia - BDO Denet - Ziv Haft - BDO Alba Romeo & Co. - BDO Ebrahim & Co. - BDO S.A. - BDO Invest Riga, BDO Zelmenis&Liberte - BDO Bustamante & Bustamante
All BDO member firms changed their names to BDO in 2009. The rebrand across 110 countries took just over five months. The intention was to create global consistency, so that the BDO network could be presented as a single entity.
’s largest accounting services firms. Founded by James M. Dunwoody (affectionately known as "The Colonel" by BDO's employees) it opened its first location in the 1920s in Winnipeg
, Manitoba
. By the 1990s, Dunwoody and BDO Ward Mallette, a firm based out of Toronto had merged. The union also consolidated the firm’s affiliation with BDO International a global network of national accounting firms.
In 2007, BDO had 95 offices across Canada, with 1,200 professionals and over 300 partners. BDO’s services run from assurance
, accounting and taxation services to financial advisory and corporate recovery
. The company has merged a number of times, including the latest merger announced in October 2009 with the accounting firm of Hudson LLP.
From the 1st of January, 2010, 'Dunwoody' was dropped from the company name to coincide with a global rebrand which saw all of the BDO member firms change their names to BDO. The rebrand, which included design, messaging, all of the separate global websites, marketing collateral and trickle-down implementation across the 110 countries took just over five months. The intention was to create a global consistency, so that the BDO network could be presented as a single entity.
BDO Simpson Xavier is the 5th largest accountancy firm in Ireland, with revenues of €62 million for the year ending 28 February 2006, and average revenue per partner of €1.5 million [1].
The names 'Simpson Xavier' were dropped in November 2009, with the firm adopting the worldwide branding of BDO. The rebrand, which included design, messaging, all of the separate global websites, marketing collateral and trickle-down implementation across the 110 countries took just over five months. The intention was to create a global consistency, so that the BDO network could be presented as a single entity.
This has been publicly recognised by the following awards:
of chartered accountant
s in the United Kingdom
. It is the UK member firm of BDO International, the fifth largest worldwide network of professional service firms in the world. With offices throughout the UK, the firm offers auditing, consultancy and tax services to a wide variety of organisations in the private and public sectors.
BDO is the 6th largest accountancy firm in the UK, with revenues of £312.2 million for the year ending 30 June 2010.
or Deloitte & Touche in 1994 created BDO Stoy Hayward, which became the UK member of BDO International.
The firm became a limited liability partnership
in 2004.
The names 'Stoy Hayward' were dropped in October 2009, adopting the worldwide branding of BDO.
The rebrand, which included design, messaging, all of the separate global websites, marketing collateral and trickle-down implementation across the 110 countries took just over five months. The intention was to create a global consistency, so that the BDO network could be presented as a single entity.
This has been publicly recognised by the following awards:
.
plc. The UK government nationalised Northern Rock in February 2008, and the legislation effecting the nationalisation required an independent valuer to ascertain the value of the business at the point of nationalisation. The role is a controversial one, as the legislation specifies in some detail the basis of valuation, and shareholder action groups claim that the valuation basis has been designed to minimise the compensation due.
Professional services networks
Professional services networks are networks of independent firms who come together to cost-effectively provide services to clients through an organized framework. They are principally found in law and accounting. They may also be found in investment banking, insurance, real estate and architectural...
of public accountancy
Accountancy
Accountancy is the process of communicating financial information about a business entity to users such as shareholders and managers. The communication is generally in the form of financial statements that show in money terms the economic resources under the control of management; the art lies in...
firms, serving national and international clients. Each BDO Member Firm is an independent legal entity in its own country. The network, originally formed in 1963 as Binder Seidman International Group, is coordinated by BDO Global Coordination B.V., with an office in Brussels, Belgium. The name BDO, first devised in 1973, is an acronym of Binder Dijker Otte & Co.
As at 30 September 2010, BDO Member Firms in 119 countries employed 38,922 professionals in 1,082 offices throughout the world.
Global fee income of all BDO Member Firms for the year ending 30 September 2010 totalled € 3,893 million (US$ 5,284 million), making BDO International the fifth largest accounting firm network globally.
Member firms
The largest member firms are:- Formerly BDO Kendalls - BDO Atrio - BDO Trevisan - - :fr:BDO France - BDO AG - BDO CampsObers - Formerly known as BDO Spicers - Formerly known as BDO Noraudit & Co. - BDO Canada LLP - BDO LLP - BDO Seidman, LLP
BDO Seidman, LLP
BDO USA, LLP is the United States Member Firm of BDO International, the largest global accounting and consulting network outside of the Big Four.-History:...
- BDO Russia - BDO Simpson Xavier - BDO Limited - BDO Haribhakti & Co. - BDO ScanRevision - BDO Visura - BDO Nordic - BDO Audiberia - BDO Denet - Ziv Haft - BDO Alba Romeo & Co. - BDO Ebrahim & Co. - BDO S.A. - BDO Invest Riga, BDO Zelmenis&Liberte - BDO Bustamante & Bustamante
All BDO member firms changed their names to BDO in 2009. The rebrand across 110 countries took just over five months. The intention was to create global consistency, so that the BDO network could be presented as a single entity.
Canada
BDO Canada is one of CanadaCanada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
’s largest accounting services firms. Founded by James M. Dunwoody (affectionately known as "The Colonel" by BDO's employees) it opened its first location in the 1920s in Winnipeg
Winnipeg
Winnipeg is the capital and largest city of Manitoba, Canada, and is the primary municipality of the Winnipeg Capital Region, with more than half of Manitoba's population. It is located near the longitudinal centre of North America, at the confluence of the Red and Assiniboine Rivers .The name...
, Manitoba
Manitoba
Manitoba is a Canadian prairie province with an area of . The province has over 110,000 lakes and has a largely continental climate because of its flat topography. Agriculture, mostly concentrated in the fertile southern and western parts of the province, is vital to the province's economy; other...
. By the 1990s, Dunwoody and BDO Ward Mallette, a firm based out of Toronto had merged. The union also consolidated the firm’s affiliation with BDO International a global network of national accounting firms.
In 2007, BDO had 95 offices across Canada, with 1,200 professionals and over 300 partners. BDO’s services run from assurance
Assurance
Assurance may refer to:* Assurance services, offered by accountancy firms to improve the quality of information* Assurance , a Protestant Christian doctrine...
, accounting and taxation services to financial advisory and corporate recovery
Corporate recovery
Corporate recovery is the term given to the rescues undertaken by professional accountants, who are professionally trained, to assist the management of companies in nursing a company in financial and other difficulty back to health....
. The company has merged a number of times, including the latest merger announced in October 2009 with the accounting firm of Hudson LLP.
From the 1st of January, 2010, 'Dunwoody' was dropped from the company name to coincide with a global rebrand which saw all of the BDO member firms change their names to BDO. The rebrand, which included design, messaging, all of the separate global websites, marketing collateral and trickle-down implementation across the 110 countries took just over five months. The intention was to create a global consistency, so that the BDO network could be presented as a single entity.
Ireland
BDO Simpson Xavier is a partnership of chartered accountants in the Republic of Ireland formed by Anthuan Xavier and Dave Simpson in 1982. It is the Irish member firm of BDO International, the fifth largest worldwide network of professional service firms in the world. With offices throughout Ireland, the firm offers auditing, consultancy and tax services to a wide variety of organisations in the private and public sectors. Established by entrepreneurs for entrepreneurs, they are Ireland's leading advisers to entrepreneurial and growing owner-managed businesses and the people behind them.BDO Simpson Xavier is the 5th largest accountancy firm in Ireland, with revenues of €62 million for the year ending 28 February 2006, and average revenue per partner of €1.5 million [1].
History
BDO Simpson Xavier head office in Dublin now has in excess of over 300 employees in a new building just off Stephen's Green. This building was until recently shared Finaref and Michael Page.The names 'Simpson Xavier' were dropped in November 2009, with the firm adopting the worldwide branding of BDO. The rebrand, which included design, messaging, all of the separate global websites, marketing collateral and trickle-down implementation across the 110 countries took just over five months. The intention was to create a global consistency, so that the BDO network could be presented as a single entity.
Awards
BDO Simpson Xavier is viewed as the biggest challenger to the "Big 4" accountancy practices. It has done this by being vociferous in the lack of competition for accounting services in the large corporate market and by developing its own award winning "successfully different" culture.This has been publicly recognised by the following awards:
- 2006 Best Companies to Work for in Ireland and a special award for Camaraderie
- 2007 Best Companies to Work for in Ireland
- 2008 Top 50 companies to work for in Ireland
Locations
BDO Simpson Xavier has 3 offices in the Republic of Ireland:- Dublin (Head Office)
- Limerick
- Galway
United Kingdom
BDO LLP is a partnershipPartnership
A partnership is an arrangement where parties agree to cooperate to advance their mutual interests.Since humans are social beings, partnerships between individuals, businesses, interest-based organizations, schools, governments, and varied combinations thereof, have always been and remain commonplace...
of chartered accountant
Chartered Accountant
Chartered Accountants were the first accountants to form a professional body, initially established in Britain in 1854. The Edinburgh Society of Accountants , the Glasgow Institute of Accountants and Actuaries and the Aberdeen Society of Accountants were each granted a royal charter almost from...
s in the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
. It is the UK member firm of BDO International, the fifth largest worldwide network of professional service firms in the world. With offices throughout the UK, the firm offers auditing, consultancy and tax services to a wide variety of organisations in the private and public sectors.
BDO is the 6th largest accountancy firm in the UK, with revenues of £312.2 million for the year ending 30 June 2010.
History
The firm was founded in 1903 as Stoy and Co by Fred Stoy. In 1919, Jack Hayward joined the firm and it became Stoy Hayward and Co. A series of mergers with Finnie and Co in 1992 and the BDO Binder Hamlyn offices that did not join Arthur AndersenArthur Andersen
Arthur Andersen LLP, based in Chicago, was once one of the "Big Five" accounting firms among PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG, providing auditing, tax, and consulting services to large corporations...
or Deloitte & Touche in 1994 created BDO Stoy Hayward, which became the UK member of BDO International.
The firm became a limited liability partnership
Limited liability partnership
A limited liability partnership is a partnership in which some or all partners have limited liability. It therefore exhibits elements of partnerships and corporations. In an LLP one partner is not responsible or liable for another partner's misconduct or negligence. This is an important...
in 2004.
The names 'Stoy Hayward' were dropped in October 2009, adopting the worldwide branding of BDO.
The rebrand, which included design, messaging, all of the separate global websites, marketing collateral and trickle-down implementation across the 110 countries took just over five months. The intention was to create a global consistency, so that the BDO network could be presented as a single entity.
Awards
BDO is viewed as a major challenger to the 'Big Four' accountancy practices. It has done this by being vociferous in the lack of competition for accounting services in the large corporate market and by developing its own award winning 'successfully different' culture.This has been publicly recognised by the following awards:
- 2004 Accountancy AgeAccountancy AgeAccountancy Age is a trade magazine for accountants and financial staff in the United Kingdom. After running from 1969 to 2011 with a circulation of over 60,000 in print, it changed with effect from May 2011 to an online-only publication.-History:...
‘Employer of the Year’ - 2005 Accountancy Age ‘Large Firm of the Year’
- 2005 Accountancy Age ‘Employer of the Year’ (second year)
- 2006 Sunday Times '100 Best Companies to Work For'The Sunday Times 100 Best Companies to Work ForSince 2001, the Sunday Times newspaper has published annual lists of the best companies to work for in the UK. The award is highly valued by its winners.The list ranks Britain's best companies to work for based a number of criteria...
- 2006 Top 50 Companies Where Women Want to Work - Sunday Times
- 2006 Global Firm of the Year - Accountancy Age, 2006
- 2006 Accountancy Age ‘Personality of the Year’ awarded to Jeremy Newman (managing partner)
- 2007 Accountancy Age 'Employer of the Year'
- 2008 Top 50 Best Workplaces - Financial Times
- 2008 Top 100 Best Companies to Work For - Sunday Times
- 2008 Accountancy Age ‘Audit Team of the Year’
- 2008 Accountancy Age ‘Corporate Finance Deal of the Year’
- 2008 and 2009 Accountancy Age ‘Tax Team of the Year’
Criticism
BDO Stoy Hayward was criticised in their role as administrators for the collapsed Christmas hamper savings company Farepak. BDO Stoy Hayward used an 0870 non-geographic phone service (termed by some "premium rate") to provide information for victims of Farepak's collapse. The criticism was at least partially based on the mistaken belief that BDO Stoy Hayward were taking a share of the call revenue to pay for the administration; this incorrect belief was later corrected by The ObserverThe Observer
The Observer is a British newspaper, published on Sundays. In the same place on the political spectrum as its daily sister paper The Guardian, which acquired it in 1993, it takes a liberal or social democratic line on most issues. It is the world's oldest Sunday newspaper.-Origins:The first issue,...
.
Northern Rock
In September 2008, Andrew Caldwell, valuations partner at BDO Stoy Hayward, was appointed independent valuer for the stricken mortgage bank, Northern RockNorthern Rock
Northern Rock plc is a British bank, best known for becoming the first bank in 150 years to suffer a bank run after having had to approach the Bank of England for a loan facility, to replace money market funding, during the credit crisis in 2007. Having failed to find a commercial buyer for...
plc. The UK government nationalised Northern Rock in February 2008, and the legislation effecting the nationalisation required an independent valuer to ascertain the value of the business at the point of nationalisation. The role is a controversial one, as the legislation specifies in some detail the basis of valuation, and shareholder action groups claim that the valuation basis has been designed to minimise the compensation due.
Locations
BDO has 14 offices in the UK:- BelfastBelfastBelfast is the capital of and largest city in Northern Ireland. By population, it is the 14th biggest city in the United Kingdom and second biggest on the island of Ireland . It is the seat of the devolved government and legislative Northern Ireland Assembly...
- BirminghamBirminghamBirmingham is a city and metropolitan borough in the West Midlands of England. It is the most populous British city outside the capital London, with a population of 1,036,900 , and lies at the heart of the West Midlands conurbation, the second most populous urban area in the United Kingdom with a...
- BristolBristolBristol is a city, unitary authority area and ceremonial county in South West England, with an estimated population of 433,100 for the unitary authority in 2009, and a surrounding Larger Urban Zone with an estimated 1,070,000 residents in 2007...
- CambridgeCambridgeThe city of Cambridge is a university town and the administrative centre of the county of Cambridgeshire, England. It lies in East Anglia about north of London. Cambridge is at the heart of the high-technology centre known as Silicon Fen – a play on Silicon Valley and the fens surrounding the...
- ChelmsfordChelmsfordChelmsford is the county town of Essex, England and the principal settlement of the borough of Chelmsford. It is located in the London commuter belt, approximately northeast of Charing Cross, London, and approximately the same distance from the once provincial Roman capital at Colchester...
- EpsomEpsomEpsom is a town in the borough of Epsom and Ewell in Surrey, England. Small parts of Epsom are in the Borough of Reigate and Banstead. The town is located south-south-west of Charing Cross, within the Greater London Urban Area. The town lies on the chalk downland of Epsom Downs.-History:Epsom lies...
- Gatwick
- GlasgowGlasgowGlasgow is the largest city in Scotland and third most populous in the United Kingdom. The city is situated on the River Clyde in the country's west central lowlands...
- HatfieldHatfield, HertfordshireHatfield is a town and civil parish in Hertfordshire, England in the borough of Welwyn Hatfield. It has a population of 29,616, and is of Saxon origin. Hatfield House, the home of the Marquess of Salisbury, is the nucleus of the old town...
- LeedsLeedsLeeds is a city and metropolitan borough in West Yorkshire, England. In 2001 Leeds' main urban subdivision had a population of 443,247, while the entire city has a population of 798,800 , making it the 30th-most populous city in the European Union.Leeds is the cultural, financial and commercial...
- LondonLondonLondon is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
(Head Office) - ManchesterManchesterManchester is a city and metropolitan borough in Greater Manchester, England. According to the Office for National Statistics, the 2010 mid-year population estimate for Manchester was 498,800. Manchester lies within one of the UK's largest metropolitan areas, the metropolitan county of Greater...
- ReadingReading, BerkshireReading is a large town and unitary authority area in England. It is located in the Thames Valley at the confluence of the River Thames and River Kennet, and on both the Great Western Main Line railway and the M4 motorway, some west of London....
- SouthamptonSouthamptonSouthampton is the largest city in the county of Hampshire on the south coast of England, and is situated south-west of London and north-west of Portsmouth. Southampton is a major port and the closest city to the New Forest...
External links
- BDO International
- BDO International core statistics
- BDO International's 2008 results, Accountancy AgeAccountancy AgeAccountancy Age is a trade magazine for accountants and financial staff in the United Kingdom. After running from 1969 to 2011 with a circulation of over 60,000 in print, it changed with effect from May 2011 to an online-only publication.-History:...
magazine - BDO UK Website