MERGERS ON THE RISE
Within five years there will be just two or three truly global networks of accountancy firms because of the accelerating pace of consolidation, says BDO. It made the prediction as it announced its first global results following its UK merger with PKF. BDO completed other mergers in national territories, including with PKF firms in Australia and New Zealand. The enlarged BDO reported turnover of US$6.45bn in the year to September, a 7.3% rise over the previous year.