In Canada, we hear of consolidations below the Big Four level. Canada’s Number 5 and 6 accounting firms, Grant Thornton LLP and BDO Dunwoody LLP have recently agreed to discuss a merger. The motive: to become larger and stay competitive with the Big Four firms. Yet the road is long: Grant Thornton audits only 3 of the top 100 TSE companies, while BDO Dunwoody audits none of those companies...
Must be a bigger story here, as it would it interesting to see what international firm the combined entity will go with: Grant or BDO. Perhaps BDO Canada has some sort of issue with the international organziation and wants out. These mergers are difficult, disruptive and there is always a "land grab" is this is almost a merger of equals.
ReplyDeleteAnyhow, I wonder what the real reasons might be for the decision to proceed with discussions. One of these firms has a big issue. S
I too wonder which firm will they pick. Seems to me BDO to be the strongest of the 2, especially in Europe and Asia.
ReplyDeleteI do think canadian clients will be better served internationally with BDO.
However gets it will be a major lost for the other international association.
The winners will always be RSM and Baker Tilly.