BDO is overhauling its global structure to operate more cohesively as an international accounting organisation.

The firm, ranked fifth worldwide by revenue, will begin by merging clusters of its national partnerships across Europe, the Americas, and Asia, with a separate bloc centred on the UK and Commonwealth countries, including Australia, New Zealand, and South Africa.

Currently, BDO operates as a network of independently owned national partnerships in over 160 countries, overseen by a global umbrella body. Each country maintains its own management and partner structure. The shift toward a more unified model is driven by multinational clients’ demand for seamless cross-border service and the need to implement AI tools consistently worldwide.

Early regional groupings will consider cultural alignment and existing trading overlaps. While the goal could eventually be a single global firm, industry insiders say the process may result in two or three large international entities instead. The UK and Irish firms are approaching a partner vote on their merger, a project internally codenamed “Project Velvet.”

BDO executives have confirmed that consolidation will be optional for smaller firms, which can choose to align with larger partners rather than undertake full mergers. The strategy is not driven by external equity; BDO’s global body has reaffirmed its independence from private equity investment while exploring creative structures to fund consolidation internally.

The restructuring could take more than a decade to complete, with the pace of reform varying across regions and partners. Large firms in the US, UK, and Germany are expected to lead initial mergers, creating stronger integrated hubs within the global network.

Explore the full story to see how BDO plans to reshape international accounting operations.