BDO and KPMG Head to Head
By Ali Ahmad
Despite under scrutiny and tough regulations from Regulatory bodies, one part of famous (or some say infamous) big four, KPMG is going on head to head with BDO (world’s fifth largest network of accounting firms) in Brazil.
According to Accounting Today, BDO RCS Auditores Independentes, formerly a member of the Crowe Horwath network, will be joining BDO’s network as of March 31. The firm has approximately 250 partners and staff working in six offices across the country. The firm had 2010 fee income of more than $12 million and is the fifth largest accounting firm in the country. BDO’s former member firm in Brazil will be joining KPMG’s network, but some of the partners and staff will be staying with BDO.
Immediately after this development, BDO lines up complaint against KPMG Brazil. Sources learned that BDO is planning to take this matter to Brazilian competition authorities.
How do you see these deals? And how it could effects mergers in other countries?