BDO Network Acquires PKF, Australia

BDO the network of independent public accounting firms, acquired the PKF East Coast Practice in Australia. According to SmartCompany.com, more acquisitions are on the agenda and Moore Stephens may also join the BDO network. The merger will combine the BDO and PKF offices in Brisbane, and PKF’s Melbourne and New South Wales offices are adopting the BDO brand.

The purchase re-establishes BDO’s presence in Sydney and Melbourne after BDO International revoked its licensing arrangements with its former practices there. The move will expand the firm to about 160 partners and more than 1,315 staff, making the merged firm Australia’s sixth largest accounting firm by revenue. The partnership vote at BDO to acquire PKF was “almost unanimous”, which BDO national chairman Tony Schiffmann says is “as good as it gets” in a professional services firm.