BC Business
Sponsored Content
BDO is part of the BDO international network – the fifth largest accounting network in the world, comprising nearly 55,000 people in more than 1,200 offices in 140 countries. In addition to serving a wide cross-section of industries, BDO Canada is a leading consultant to Canada’s energy and natural resources sector, where it has developed solid, industry-specific expertise and offers sound, strategic financial advice. “Traditionally, the work we’ve done for companies in this space has been around statutory audit and tax-reporting requirements,” says Michael Madsen, managing partner for BDO’s Vancouver office, and national leader for the firm’s natural resources industry group. “But with the markets the way they are, our focus has shifted more toward value-add-type services such as risk advisory services, fairness opinions and valuations around mining prospects and companies that are consolidating. “We’re also doing more tax structuring work. There are a lot of complexities when operating outside of Canada and tax rules that can have a significant impact on the cost of doing business. We are spending more time with [mining and oil and gas] clients to explore government incentives to help fund some of their activities and ease their cash burden.” Affected by fluctuating demand, volatile commodity pricing and economic uncertainty, these industries require specialized services and solutions – whether it’s managing resource extraction projects in multiple countries with varying regulatory and political risks, or adapting to evolving environmental or accounting regulations.