BDO USA books 24.5% revenue growth in fiscal year 2022

14 July 2022 2 min. read

Mid-market accounting and consulting firm BDO USA reported 24.5% revenue growth for the 12-month period ending April 30, 2022.

The Chicago-based firm reached $2.49 billion in revenue on the back of the steep growth rate, which was at least partially driven by persistent high inflation in the US. In FY21, BDO registered 10.9% growth to reach approximately $2 billion in revenue.

As at most large accounting and consulting firms, the advisory division was the growth star. BDO’s advisory business saw 35% growth, while tax and assurance grew by 27% and 16%, respectively.

The strong growth in 2022 continued the firm’s streak of a decade of consecutive year-over-year growth under the leadership of CEO Wayne Berson.BDO USA books 24.5% revenue growth in fiscal year 2022“It’s been an exciting and meaningful decade building a purpose-driven business, growing and providing value for our clients while working toward a better tomorrow for our people and our communities – and we’ve only just begun,” said Berson. “As a firm, we look forward to the next ten years and beyond, continuing to invest in building a truly sustainable business worthy of the next generation.”

In FY22, BDO welcomed its largest-ever partner class of 69 people. The firm also expanded via the acquisition of Culbert Healthcare Solutions and Lowery Asset Consulting.

The firm in January appointed an ESG strategy and services leader and launched a dedicated center for addressing internal and client ESG needs. BDO in April appointed its first diversity, equity, and inclusion (DEI) officer and released its inaugural DEI transparency report.

“Wayne and the entire BDO USA leadership team identified and integrated services that have made BDO the leading advisor for the middle market. In addition to excelling at the traditional fundamentals of our business to drive sustainable growth, BDO is taking thoughtful action aimed at protecting our resources and bettering our society,” said Kelly Johnson, chair of the board of directors of BDO USA.

BDO USA has approximately 820 partners and 9,671 professional staff across 90+ US offices. It is the sixth-largest accounting and consulting firm in the country, after the Big Four and RSM US.