Kevin Reed, Accountancy Age, Thursday 24 June 2010 at 09:45:00

Grant Thornton South Africa picks up BDO Cape


Grant Thornton has scooped up two South African BDO offices.

BDO Cape, compromising offices in Cape Town and Port Elizabeth, is mergingwith Grant Thornton Sought Africa.

The deal adds 207 staff and 19 partners and directors, bringing GT SouthAfrica to R400m (61.7m) in revenues.

GrantThornton UK CEO Scott Barnes said the move was important to thefirm, with Cape Town's growing significance as a financial centre.

"Cape Town, Delhi, and Sydney are as important to our future as Edinburgh,Leeds, Manchester and Bristol," said Barnes.

Other BDO offices in South Africa are not involved in the merger.

Further reading:

E&Y win StatPro audit from PwC

Big-Four-onlyclauses are rare: BBA