11 July 2019
A couple of newspaper reports in one of the leading financial papers, The Economic Times in the last week of June 2019 may have created distortion of facts insofar as BDO in India is concerned. It would therefore be appropriate to set the record straight about internal developments at BDO in India, dispelling unfounded rumours.
On 31 May 2019, the Leadership team at BDO in India terminated services of three partners (one from Assurance and two from the Business Advisory Services) on account of loss of confidence. The genesis of termination was multi-fold, but predominantly for the reason that their actions and intentions were aimed at creating instability and raise false concerns.
Following the exit of these 3 partners, the firm received 8 partner resignations, including 125 team members from Business Advisory Services team. However, we have to state, these exits have had no impact on our business, much less on our ability to service our clients. Each of our service verticals within BAS i.e. GRC, Cyber-Security, Forensics, Government Advisory and Technology-Advisory stand strong and unaltered with competent teams delivering on assignments
11 Partners and 450-member team pan-India from BAS still continue despite significant pressure from the exiting group. This contrasts to the rumours that BDO India has lost 25 partners and 400 team members from our BAS team which is untrue.
We are proud of our journey as an organisation and its extraordinary growth and being associated with our clients to provide the best in class service. It has also been our privilege to engage more than 2,800 employees across 10 locations in India and reinforce our commitment of being an ethical organisation and our commitment to society.