George Town, Grand Cayman; 21 December 2016
The annual results for global accountancy firm BDO have arrived, and the figures provide good news for the group and its staff here in Cayman.
Located in various locations worldwide, including the Cayman Islands, BDO’s international network has continued to grow rapidly. On Wednesday, 14 December, BDO Global released the firm’s annual report on its Twitter page. It announced a total combined fee income for the year ended 30 September 2016 of US$ 7.6 billion. This represents a year on year growth of 8%, at constant exchange rates.
BDO has also seen impressive expansion throughout the network, having opened offices in four additional countries this year, bringing its global presence to a total of 1401 offices in 158 countries and territories.
“Not only is our expansion strategy reaping greater rewards, we are also rapidly gaining a reputation as one of the most innovative networks in our profession,” commented Martin van Roekel, Global CEO of BDO. He continued: “Looking ahead we will continue to grow by taking advantage of the consolidation opportunities around the world. We will also continue our focus on innovation, by exploring digital opportunities for improvement in the best possible way. This approach will assist us in ensuring we continue to achieve our mission of delivering exceptional client service to all our clients.”
The firm established itself in the Cayman Islands in 2002, where it was known as BDO Tortuga, and later moved to a single trading name in 2009. Since then the Cayman firm has experienced great success. Seven new starters were also taken on this year, and BDO was recently pleased to be recognised as one of Cayman’s top employers by the Cayman Islands Society of Human Resources Professionals (CISHRP) for the seventh consecutive year.
“We are proud to contribute to BDO’s successful story right here in Cayman,” said Glen Trenouth, BDO Cayman managing partner. “While BDO Cayman is not the biggest of the BDO offices, it doesn’t hinder us from doing big things here. We are proud to have a diverse, experienced and approachable team of highly-skilled and highly-regarded specialists here in Cayman. Our team includes recognized industry experts, who bring world-class knowledge and expertise to Cayman’s hedge funds, captive insurance, banking and hospitality sectors.”