Accountants BDO to pay back millions in furlough cash after payout outcry December 13, 2020 Accountants BDO will return £4.1m in furlough cash after being subject to a barrage of criticism for paying out hefty profits to its partners. The Sunday Times reported that the company, which is one of the UK’s biggest accounting firms, would give back the money after paying its partners an average of £500,000. Managing partner [...]
Lengthy audits cut into BDO profits as firm defends use of furlough scheme December 10, 2020 Audits carried out during the coronavirus pandemic have taken between 5 and 10 per cent longer than they would typically, creating extra expense for clients and smaller profits for BDO. Profits at the audit and consultancy firm suffered somewhat in the 2019/20 financial year, with the firm making a profit of £137m, down from a [...]