BDO announces record growth and expansion into Canberra
BDO announces record growth and expansion into Canberra
Leading accounting and advisory firm, BDO has announced record growth for the third consecutive year, with revenues exceeding $500 million for the first time. The firm has experienced a year-on-year growth of 13-14% and is now expanding its operations into Canberra.
Advisory, including risk, digital and cyber, have been notable areas of growth for the firm in recent years and will be a key focus for the expanded Canberra operations.
As part of a global network of firms, BDO is known within professional services for its quality, great culture and ability to attract top talent. In Australia, the firm has close to 300 partners and over 2,500 staff members, and this latest announcement will present employment opportunities for professionals at all levels as the firm launches a recruitment drive in the nation’s capital.
“We have invested heavily in recent years and created a standout culture in the profession; it aligns with our brand promise of IDEAS PEOPLE TRUST and is a key element in our retention strategy - and a major draw card for people looking to join our firm,” said BDO chief executive partner, Tony Schiffmann.
According to independent non-executive board member and BDO Chair Mr David Fagan, BDO’s expansion into Canberra will build on an established public sector practice that currently equates to around 20% of the firm’s revenue in Australia. Demand for quality independent perspectives and specialist knowledge from clients and the Canberra market led the decision for BDO to set up a physical presence in Canberra.
“We have demonstrable capability in the work we do for the public sector, and we’re excited to bring that expertise and build our capability in Canberra,” said Mr Fagan.
“[To build a lasting presence in Canberra], we'll make significant investments in our people and premises, and we will embed ourselves in the Canberra community.”
Two foundation partner appointments have been made, and Mr Schiffmann outlined plans to build a large team on the ground with eight to ten partners and over 100 staff within the next couple of years.
“I am pleased to announce that we’ve hired expert public sector leaders in Paul McDougall and Ridhish Arora to be our foundation partners for BDO’s new Canberra presence,” said Mr Schiffmann.
“Both Paul and Ridhish are well-known in public sector engagements in Canberra.
“Paul will be the lead partner of our Canberra advisory practice, bringing 25 years of Federal Government experience to the role.
“Ridhish will lead our Federal Government technology and digital offerings, drawing on 20 years of expertise.
“Together, they will leverage the full strength of BDO’s national capability and global investments, including our Microsoft Partnership, cybersecurity, and AI capabilities to help Federal Government clients.
“We’re also actively recruiting for a range of roles, providing excellent opportunities for professionals across advisory including risk, cyber, digital and other support.”
The firm is currently in conversation about premises and is looking to secure space near the Parliamentary triangle.
“We have offices in every capital city, and the Parliamentary triangle is a great location for us to expand and grow into Canberra. We’re putting down firm roots, we’re not looking at some fly-in, fly-out operation. We’re in for the long haul, and we’re very excited about the prospects for BDO in Canberra,” concluded Mr Schiffmann.
For media enquiries:
Jane Ward
Senior Manager, Media
E: Jane.Ward@bdo.com.au
Ph: +61 7 3173 5424