All material subject to strictly enforced copyright laws. © 2022 ITR is part of the Euromoney Institutional Investor PLC group.

BDO and Moore Stephens set for UK merger

firms_thumbnail

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 the merger.

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.

BDO merged with Grant Thornton South Africa earlier this year.

More from across our site

The fast-food company’s tax settlement with French authorities strengthens the need for businesses to review their TP arrangements and documentation.
The full ALP model will be adopted through a new TP regime, which is set to boost the country’s investments and tax certainty.
Tax professionals have called on the UK government to reconsider its online sales tax as it would affect the economy at the worst time.
Tax professionals have called on companies to act urgently to meet e-invoicing compliance targets as the EU plans to ramp up digitisation.
In the wake of India’s ambitious 25-year plan for economic growth, ITR has partnered with leading tax commentators to discuss what the future will look like for India and for the rest of the world.
But experts cast doubt on HMRC's data and believe COVID-19 would have increased the revenue shortfall.
EY’s plan to separate its auditing and consulting businesses might lessen scrutiny from global regulators, but the brand identity could suffer, say sources.
Multinationals are asking world leaders to put a scale on carbon pricing to tackle climate change at the 48th G7 summit in Germany, from June 26 to 28.
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.
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.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree