In the latest career development updates, BDO income hits £405m, 7% rise in EY revenue to £2.1bn, Deloitte restructures North West Europe to create a single firm, CognitalGroup expands reach with investment in Baldwins
BDO profits up 22% as income hits £405m
Top six firm BDO has breached the £400m mark for the first time as it announced revenues of around £405m in its annual results, released in October.
The fee income represents a 3.8% increase on the £390m last year, albeit adjusted down from £400m posted in the 2016 Accountancy Top 75 survey.
Profits grew 22% to £80.3m compared to £65.6m last year, with average profits per equity partner (PEP) increasing by 29% to £360,000.
Audit income increased by 8.3% to £143m, up £11m from last year with growth from entrepreneurial clients and a ‘changing regulatory market’ as a key factor behind the rise.
In particular, the Audit Regulation and Directive (ARD) has opened up potential revenue streams among public interest entities (PIEs).
