BDO to merge with Grant Thornton in South Africa

August 09, 2018

firms_thumbnail

BDO and Grant Thornton’s South African outfits have announced plans to merge in the fourth quarter of 2018. The merger is set to create the largest mid-tier accounting firm in the country.

BDO bought out Grant Thornton’s offices in Cape Town and Port Elizabeth in February 2018. The merger will create a firm of 1,500 partners and staff across seven offices in South Africa. This includes Grant Thornton’s Johannesburg office, with almost 900 partners and staff.

BDO’s South Africa CEO Mark Stewart described the deal as providing a “credible alternative to the four largest auditing firms”. The merger comes just as KPMG is axing 400 jobs and closing offices in the country. The Big 4 firm has been haemorrhaging clients since it was engulfed in a scandal over its audits of companies owned by the Gupta brothers.

Tags

News South Africa Africa

Josh White

Deputy Editor in ITR

Josh reports on transfer pricing, BEPS, tax disputes and other direct tax matters for ITR’s online and print audience. He covers a range of tax issues in these areas and how companies are dealing with them, as well as the influence of politics on tax developments.

More from across our site

Budapest city skyline at Hungalian Parliament and Danube River,

Hungary rejects plan for 15% corporation tax rate

The state secretary told the French press that the country continues to oppose pillar two’s global minimum tax rate following an Ecofin meeting last week.

June 24, 2022

This week in tax: Biden’s energy tax holiday runs out of gas?

This week the Biden administration has run into opposition over a proposal for a federal gas tax holiday, while the European Parliament has approved a plan for an EU carbon border mechanism.

Josh White, June 24, 2022

Microsoft makes the case for better tax data management

Businesses need to improve on data management to ensure tax departments become much more integrated, according to Microsoft’s chief digital officer at a KPMG event.

Josh White, June 23, 2022

Companies must prepare for TP risks as US Libor deadline looms

Businesses must ensure any alternative benchmark rate is included in their TP studies and approved by tax authorities, as Libor for the US ends in exactly a year.

Leanna Reeves, June 23, 2022

Businesses left vulnerlable_VAT planning.jpg

Businesses left vulnerable by lack of strong VAT planning

Tax directors warn that a lack of adequate planning for VAT rule changes could leave businesses exposed to regulatory errors and costly fines.

Siqalane Taho, June 22, 2022

Pause NI supply chain changes - 1.jpg

Companies urged to pause Northern Ireland supply chain changes

Tax professionals have urged suppliers of goods from Great Britain to Northern Ireland to pause any plans to restructure their supply chains following the NI Protocol Bill.

Siqalane Taho, June 22, 2022

Close-up of a woman's ear and hand through a torn hole in the paper. Yellow background, copy space. The concept of eavesdropping, espionage, gossip and tabloids.

Taxpayers still rely on market whispers to manage risk

Tax leaders say communication with peers is important for risk management, especially on how to approach regional authorities.

Danish Mehboob, June 20, 2022

Magnifying glass close up with world map

In-house hunt for technologists amid digitalisation

Advances in compliance tools in international markets and the digitalisation of global tax administrations are increasing in-house demand for technologists.

Danish Mehboob, June 20, 2022

McDonald’s to pay €1.25bn to settle French tax evasion case

The US fast-food company has agreed to pay €1.25 billion to settle the French investigation into its transfer pricing arrangements over allegations of tax evasion.

Leanna Reeves, June 17, 2022

This week in tax: HMRC delays pillar two adoption

HM Revenue and Customs said the UK pillar two legislation will be delayed until at least December 2023, while ITR reported on a secret Netflix settlement and an IMF study on VAT cuts.

Danish Mehboob, June 17, 2022