BDO continues its growth trajectory from the prior financial year. Revenue increased by 4.7 percent on the prior year to CHF 221.4 million.
Audit reported a 2.8 percent increase in revenue to CHF 74.3 million. This achievement came in a market that remains saturated and is characterised by fierce competition. The digital audit assistant Lisa and other digital innovations are enabling audits to be carried out more efficiently and effectively. Clients benefit from the straightforward flow of information as well as standardised audit processes with automated and centralised tasks. Growing demand was observed for audit and other examination services over and above the sphere of purely financial information. Examples include compliance or sustainability audits.
With growth of 6.8 percent to CHF 71.3 million, revenue developed positively once again in Business Solutions. Companies are operating in an increasingly complex environment. BDO supports clients with a broad range of services that respond to the challenges they face. SMEs are increasingly embracing process digitalisation - and expect the same from their business service providers. BDO is meeting this need alongside personal advice, which continues to be of central importance.
Tax & Legal
Tax & Legal recorded an 8 percent increase in revenue to CHF 27.7 million in 2019. A growing number of companies find themselves affected by frequent changes to laws and legislation. That’s why BDO’s tax and legal advisers use digital knowledge management tools to keep track of the latest developments, e.g. in the area of corporate tax reform or data protection. Exchange within the global BDO network ensures that changes at international level are recognised at an early stage and adapted for BDO clients in Switzerland.
The financial sector was influenced in the past year by a strong stock market environment, the Swiss National Bank’s negative interest rate policy and ongoing digital transformation. Audit reform and related implications have posed a challenge for auditors in the financial sector. Against this backdrop, Financial Services managed to generate revenue of CHF 17.1 million, matching the prior year level while at the same time improving profitability. Developments in fintech and blockchain technology remain promising, while new regulations such as the Financial Institutions Act (FinIA) or Financial Services Act (FinSA) also offer good prospects.