BDO announces ACT expansion following $500m in record revenue
BDO has announced it will be expanding its operations in Canberra after recording record growth in annual revenue for the third consecutive year.
The leading accounting and advisory firm announced it has experienced record growth for the third year in a row, with revenues exceeding $500 million for the first time.
BDO said it will expand its operations in Canberra after continued year-on-year growth of 13–14 per cent.
The establishment of the BDO branch in Canberra has led to the appointment of two foundation partners, Paul McDougall and Ridhish Arora.
BDO outlined the aim is to grow the Canberra branch over the next couple of years, with the hope of reaching over 100 staff members and eight to 10 partners.
The company currently has close to 300 partners and over 2,500 staff members.
The establishment of the Canberra office will provide new employment opportunities to professionals at all levels as the company launches a recruitment drive.
BDO chief executive partner Tony Schiffmann said the expansion is a result of the work the company has been doing and is looking to secure premises near the parliamentary triangle.
“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,” he said.
“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 in for the long haul and we’re very excited about the prospects for BDO in Canberra.”
Expansion into Canberra will build on an established public sector practice that currently equates to around 20 per cent of the company’s revenue in Australia, according to BDO chair David Fagan.
Fagan said demand for quality independent perspectives and specialist knowledge from clients and the Canberra market contributed to the decision of expansion.
“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,” he said.
“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.”
McDougall and Arora said they are looking forward to joining the BDO team as foundation partners.
McDougall has over 25 years of experience in professional services, government and the private sector, and will lead the advisory practice in Canberra.
Arora has over 20 years of experience across professional services, government, high growth start-ups and the private sector, and will lead the digital and technology offering to the federal government.
Schiffmann said McDougall and Arora will utilise their professional expertise to help grow BDO’s presence in Australia’s capital.
“Both Paul and Ridhish are well-known in the public sector engagements in Canberra,” Schiffmann said.
“Together they will leverage the full strength of BDO’s national capability and global investments, including our Microsoft partnership, cyber security and AI capabilities to help federal government clients.”
