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| Additional information |
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| BDO Magyarország (BDO Hungary) |
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Overview:
BDO was established in Hungary in 1989, under the name BDO Binder Kontroll, as a subsidiary of the BDO member in Vienna. In 1993, the company became independent and assumed the name BDO Kontroll Kft., with the BDO network seated in Brussels being the majority owner. BDO appeared in Hungary as it wanted to have an organisation that belongs to the BDO network and that can audit foreign companies that appeared at the time of the change of regime and were audited by BDO abroad. After the company became independent in 1996, BDO Kontroll Kft. passed into Hungarian majority ownership. In 1998 and 1999 new tax consulting and auditing partners joined the company. From the office located on the former Belgrád rakpart, in 1999, the company moved into the modern office building in Váci utca. In 2001, the Hungarian BDO merged with a smaller auditing company, a step which was welcomed by the professional analysts and the Chamber of Hungarian Auditors as well.
2005 and 2006 were the years of revival in the company’s life, as the company moved into a new head office and changed its name from BDO Kontroll to BDO Forte, thereby creating a new company structure. With its new name – BDO Forte – the company intended to express its dynamic growth, and the changes in approach (branding), as well as the new regulations applicable within the BDO network to company names.
The year 2009, which had a negative economic impact on most companies, brought a positive change in BDO’s life: The total consolidated income from fees of BDO International audit company – the fifth largest company on a global scale, which has been present in 115 countries since last year and which employs more than 46 thousand people – amounted to 3.71 billion €, having increased by 1.7% compared to the income earned a year earlier.
Year 2009 proved to be a successful year for BDO Hungary, the largest financial consulting company in Hungarian ownership, as a nearly 5% increase is expected in its sales revenue. The previous year was important for the company from another point of view, as well: in order to strengthen the network, BDO decided on uniform name usage, thus the BDO Forte group has been operating under the name BDO Hungary since 1 December 2009. BDO Hungary will continue to provide high standard services to its clientele, by sharing its international knowledge base and best practices.
BDO is represented in Hungary solely by BDO Hungary, a full member of the BDO international auditing and tax consulting network, due to which the content and standard of the services are in each case the same as those in the international network. |
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History:
The current BDO Group was established in Belgium in 1963, when five national BDO members: the English, the Canadian, the American, the German and the Dutch companies decided to have common management and establish a professional alliance. The step was a response to the wave of economic globalisation in the course of which, at the end of the fifties, international companies spanning over country borders and oceans were established. As a result of the alliance of the advisory organisations of the five nations, it became possible to satisfy their clients’ cross-border needs as well. This was perhaps the first BOD action by which something more was offered to clients, compared to the competitors.
The Group assumed the name Binder Dijker Otte & Co. in 1973, by which time a global network of independent national companies had been created: the BDO Group. The rate of our growth is demonstrated well by the fact that by 1995 the BDO Group became the seventh, by 1998 the sixth, and by 2002 the fifth largest audit network. In 1993, the Group operated 490 offices in 66 countries of the world, and by 2008, already 1095 offices belonged to the network in 111 countries, having nearly 44,000 employees, and realising a total sales revenue of 3.649 billion Euros.
BDO is represented in Hungary solely by BDO Hungary, a full member of the BDO international auditing and tax consulting network, due to which the content and standard of the services are in each case the same as those in the international network. |
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