BDO Brasil closed 2024 with a record result. The fifth largest auditing and consulting firm in Brazil recorded revenue of R$ 450 million, representing a 22% growth compared to 2023. The number of professionals nationwide surpassed the 2,100 mark, a 17% increase from the previous year.
Among the factors explaining this growth is maintaining leadership in the middle market and consolidation among large companies – especially publicly traded ones. After the mandatory rotation, the outcome was positive, with an 8.5% increase in listed companies.
The firm also expanded its reach with the inauguration of a new office in Palmas, Tocantins. Additionally, it acquired Baker Tilly’s operations in Belo Horizonte and Brasília, expanded offices in the capital of Minas Gerais, Uberlândia, and Sorocaba, and strengthened its leadership team with new director hires and the addition of new partners.
“We had a very positive year. Despite economic weaknesses, we managed to showcase the quality of our deliverables to the market. This attracted new clients very naturally,” explains Raul Corrêa da Silva, CEO of BDO. “We seized the opportunity window opened by taking on some high-profile clients and simultaneously strengthened our team,” he adds.
The outlook for 2025 is even better. BDO has already planned the expansion of three offices: Curitiba, Goiânia, and Rio de Janeiro, as well as the opening of a new base in the Northeast. The chosen city is João Pessoa, Paraíba, with the inauguration scheduled for the first half of this year.
“This year, we are evaluating new acquisitions to accelerate our growth, not just in auditing,” reveals Corrêa. “We also anticipate increased demand for tax services due to tax reform and new transfer pricing rules, and we will introduce new products in advisory and controllership areas,” he highlights.
BDO Global
Globally, BDO reported combined revenues of US$ 15 billion for the fiscal year ending September 30, 2024, representing a 7% increase from the previous year. All service lines maintained strong performance.
The Americas region saw a 5.5% increase. In North America, combined growth in Canada and the U.S. market was 4%, while the key Mexican market experienced a 15% revenue increase.
In South America, Brazil (+25%) and Colombia (+24%) stood out, driven mainly by continuous investment in technology and people development, which earned market recognition and strength. “In Brazil specifically, we gained momentum with the addition of new major clients while maintaining our leadership in the middle market,” reiterates Corrêa.
Global strategy
The year was marked by BDO’s unified global growth strategy, aimed at providing global solutions to international clients by combining local expertise from diverse teams with cutting-edge innovation and technology. “Our global strategy focuses on balanced and sustainable growth that meets our clients’ needs while maintaining our core purpose and brand values within a culture where our people can thrive,” says Pat Kramer, Global CEO of BDO.
In 2024, BDO’s workforce grew across all levels and service lines, reaching approximately 120,000 professionals in 1,800 offices worldwide—a 3.4% increase.
Technological transformation
In 2024, BDO launched its secure generative artificial intelligence (AI) platform, empowering its teams to use the most advanced technology and deliver the best value to the businesses they serve.
“Technology is a key driver of our global strategy, backed by significant investments in technology, sustainability, and AI. We are committed to digital transformation to create lasting benefits for our clients and our people,” states Trond-Morten Lindberg, Global Director of Strategy and Operations.
Among the factors explaining this growth is maintaining leadership in the middle market and consolidation among large companies – especially publicly traded ones. After the mandatory rotation, the outcome was positive, with an 8.5% increase in listed companies.
The firm also expanded its reach with the inauguration of a new office in Palmas, Tocantins. Additionally, it acquired Baker Tilly’s operations in Belo Horizonte and Brasília, expanded offices in the capital of Minas Gerais, Uberlândia, and Sorocaba, and strengthened its leadership team with new director hires and the addition of new partners.
“We had a very positive year. Despite economic weaknesses, we managed to showcase the quality of our deliverables to the market. This attracted new clients very naturally,” explains Raul Corrêa da Silva, CEO of BDO. “We seized the opportunity window opened by taking on some high-profile clients and simultaneously strengthened our team,” he adds.
The outlook for 2025 is even better. BDO has already planned the expansion of three offices: Curitiba, Goiânia, and Rio de Janeiro, as well as the opening of a new base in the Northeast. The chosen city is João Pessoa, Paraíba, with the inauguration scheduled for the first half of this year.
“This year, we are evaluating new acquisitions to accelerate our growth, not just in auditing,” reveals Corrêa. “We also anticipate increased demand for tax services due to tax reform and new transfer pricing rules, and we will introduce new products in advisory and controllership areas,” he highlights.
BDO Global
Globally, BDO reported combined revenues of US$ 15 billion for the fiscal year ending September 30, 2024, representing a 7% increase from the previous year. All service lines maintained strong performance.
The Americas region saw a 5.5% increase. In North America, combined growth in Canada and the U.S. market was 4%, while the key Mexican market experienced a 15% revenue increase.
In South America, Brazil (+25%) and Colombia (+24%) stood out, driven mainly by continuous investment in technology and people development, which earned market recognition and strength. “In Brazil specifically, we gained momentum with the addition of new major clients while maintaining our leadership in the middle market,” reiterates Corrêa.
Global strategy
The year was marked by BDO’s unified global growth strategy, aimed at providing global solutions to international clients by combining local expertise from diverse teams with cutting-edge innovation and technology. “Our global strategy focuses on balanced and sustainable growth that meets our clients’ needs while maintaining our core purpose and brand values within a culture where our people can thrive,” says Pat Kramer, Global CEO of BDO.
In 2024, BDO’s workforce grew across all levels and service lines, reaching approximately 120,000 professionals in 1,800 offices worldwide—a 3.4% increase.
Technological transformation
In 2024, BDO launched its secure generative artificial intelligence (AI) platform, empowering its teams to use the most advanced technology and deliver the best value to the businesses they serve.
“Technology is a key driver of our global strategy, backed by significant investments in technology, sustainability, and AI. We are committed to digital transformation to create lasting benefits for our clients and our people,” states Trond-Morten Lindberg, Global Director of Strategy and Operations.
