BDO Advises Member Firms Not to Take Private Equity Money (1)

Auditing firm BDO has advised its member firms not to take outside equity investments amid a wave of interest in the sector from buyout giants around the world.

The world’s fifth-largest accountancy network announced the move alongside a slew of executive changes on Wednesday. BDO said the decision marks a “strategic reset” for the firm that will “ensure a strong and sustainable future.”

“Choosing independence is a conscious decision made from a position of strength,” Chief Executive Officer Pat Kramer said in the statement. “This approach ensures that we remain in control of our destiny while continuing to build a ...