| 11.3°C Dublin

BDO to create over 150 jobs as it targets accounting rivals

Close

HEADS DOWN: BDO sports advisory partner Ciaran Medlar with Leinster rugby players Luke Fitzgerald Kevin McLaughlin and Jimmy Gopperth

HEADS DOWN: BDO sports advisory partner Ciaran Medlar with Leinster rugby players Luke Fitzgerald Kevin McLaughlin and Jimmy Gopperth

HEADS DOWN: BDO sports advisory partner Ciaran Medlar with Leinster rugby players Luke Fitzgerald Kevin McLaughlin and Jimmy Gopperth

The transformation of Ireland's accounting sector continues. Dublin firm BDO is closing in on Ireland's Big Four accounting giants, with new plans to add 150 experienced staff.

Alongside Grant Thornton, BDO now poses a serious threat to the stranglehold enjoyed by PwC, Deloitte, KPMG and EY on the Irish accounting world.

The roles will be spread across its Dublin, Limerick and Belfast offices. The company expects to boost numbers by 300 in total by 2017, with plans for 150 grads as part of normal graduate recruitment alongside the experienced hires.

BDO is poised to benefit from new accounting rules, led by the EU, that will force public companies to put their audit contracts out to tender every 10 years.

This should play out well for Ireland's mid-size firms, which will suddenly be in the running for contracts that have been held by Big Four firms for decades - in some cases even centuries. Bank of Ireland, for example, has been audited by PwC since the 1800s. Reforms should also do away with the race to the bottom for audit prices.

BDO will have around 700 staff when recruitment is completed. Big Four firm KMPG, by comparison, has about 2,000 while PwC has 1,750. Grant Thornton, of similar scale to BDO, has 600.

The jobs BDO is seeking to fill are in growth industries - financial services, tourism and leisure, technology, healthcare and sports advice.

"We have managed to retain our key staff during the downturn and now we plan to rapidly grow them in the coming months and years," said managing partner Michael Costello. He took over from predecessor Derry Gray in June.

Business Newsletter

Read the leading stories from the world of business.

This field is required


Most Watched





Privacy