BDO and Moore Stephens set for UK merger
26 November 2018
BDO and Moore Stephens are in advanced merger discussions to join forces in spring 2019, in a move that would create the UK’s fifth-largest audit firm, behind the Big 4 accountancy firms.
Should the merger go through, the new firm – which
would be called BDO – would still only be around a
quarter of the size of KPMG, the smallest Big 4 firm. Its
revenues will be around £560 million ($720 million) and
it would employ 264 partners and around 5,000 staff.
Paul Eagland, BDO’s UK managing partner, cited
growth opportunities, better service to clients, Brexit
resilience and similar working cultures as the main reasons for
He also cited
discussions around audit reform – which
BDO has supported strongly – as having increased
companies’ awareness of BDO’s
services, and said the merger is part of its effort to compete
in the higher reaches of the audit market.
merged with Grant Thornton South Africa earlier this