How audit firms can survive in the wake of revenue declines from assurance services.

Abstract

This study sought to come up with viable solutions to increase revenue at BDO Zimbabwe. The research was prompted by noted decreases in revenue from audit services at BDO Zimbabwe during the period 2012 to 2015. The research explored literature for enhancing an understanding on the measures accounting firms can adopt in order to increase revenue and foster growth. Relevant information was gathered through the use of questionnaires and interviews directed at 25 respondents at BDO Zimbabwe. The response rate for questionnaires was 77.8% while three face to face interviews were conducted. Graphical illustrations, the mode statistical technique and relation to prior literature were used to analyse the results. Based on the research findings, it was concluded that there indeed are strategies that BDO Zimbabwe can implement in order to improve its revenue and enhance its growth prospects. The researcher recommended that the firm should invest in the offering of non-assurance services and consider moving away from the traditional focus on audit services as the main service line.