BDO Bahamas Celebrates 45 years

Bahamas firm thanks clients and celebrates its 45^th year

It was 45 years ago that the Bahamas location first opened its doors under the partnership of George Clifford Culmer, a young accountant having qualified in the United Kingdom, and a founding member of the Bahamas Institute of Chartered Accountants. It was celebrated with a cocktail party, which was attended by high officials and businesspeople alike. The early years in The Bahamas were filled with development. Since then, Mr. Culmer has managed to grow the firm into the internationally renowned firm that it is today. After forty-five years, and located in one of Nassau’s prime areas, it has seen the high-profile cases and extensive government audits that have impressed the most successful business minds. Today, the firm enjoys the success of internationally acclaimed cases and clientele in the insolvency, auditing, and advisory departments.

The reputation built expands across the industries and countries with long standing connections spearheaded by Mr. Clifford Culmer and his experienced management team. Notably, his most memorable and first court appointed liquidation was Banco Ambrosiano, followed by BCCI, Dominion, The Grand Bahama Port Authority Receivership, Mosaic, Sheikh Fahad (In Bankruptcy) and AIBC, to name a few. The legal and financial relationships formed by such cases impacted the firm favorably and gave such precedence to the formation of an exclusive relationship with BDO International. Since then, the firm has enjoyed working with the rising global network of colleagues and the international acclamation. His team has helped to propel the direction of the firm during the hurricane Dorian and Pandemic periods with their acute navigation skills and managerial assessments through a period unlike any seen in decades. The firm has profited from the expertise of international liaison partner, Myles Culmer, the son of the senior partner and Advisory Services Managing Director as well as Head of Audit and Assurance Services , Brent Roberts, and supported by a talented pool of staff members over the years.   The firm has trained many in the profession over the years, as well as achieved its contribution to society through many charitable efforts, as Mr. Clifford Culmer was president of the Rotary Club of East Nassau and has a philanthropic spirit.  He has also served as director of the Bahamas Financial Services Board and as council member of BDO International.

BDO is an international network of public accounting, tax and advisory firms which perform professional services under the name of BDO. For the year ended 30 September 2021 BDO (Including BDO's exclusive Alliances) announced a total combined fee income of more than US$ 11 billion, representing a year on year growth of 10.8% . BDO public accounting, tax and advisory firms provide professional services in 164 countries, with 95,414 people working out of 1,713 offices worldwide.

 

BFSB Award

Proud Moments

 In 2010 Mr. Clifford Culmer was recognized by the Bahamas Financial Services Board as “Executive of the Year” in recognition of his outstanding leadership qualities and his contribution to the industry. This award was granted during a splendid reception which honored his lifelong service and dedication to an industry and field that has seen many challenges over the years. This stellar award gave the firm recognition in an arena recognized for its credentials and has maintained its credibility over the decades. He has served on the board of the Central Bank of The Bahamas as well as the board of Commonwealth Bank Limited for twenty-five years, also known as the first bank for the Bahamian people, and the leader in personal banking.

 

BICA award

A long way

As a founding member of the Bahamas Institute of Chartered Accountants (BICA), along with Basil Sands Maitland Cates, Mr. Clifford Culmer served as president for seven years. The formation of the Institute was the dream of three Bahamians having returned from the United Kingdom who wanted to create a regulatory association, the inception of which has now grown to one of the most reputable associations in the Bahamas. Mr. Culmer was awarded for his service with a Lifetime Achievement Award in 2011 at a Gala Banquet, and for his dedication to his field in Liquidations and public practice as well as the association as longest serving president. Such networks benefited the firm and lifelong friendships were built.

In May 2010, the firm received the Bahamas Initiative Directions Platinum Award for quality in New York by the BID committee formed by leaders of different sectors.

 

Recent cases

A new day

Continuing in Advisory and Auditing has seen the launch of more recent cases such as Mosaic and the forensic audit of governmental and private companies in Nassau. BDO Bahamas has been thrilled to liaise with its BDO partners in New York and abroad to collaborate in its services. In addition, the Auditing Department has worked strenuously on the audits of government corporations including, Bahamas Water and Sewerage, Batelco, The Central Bank and The Hotel Corporation, as well as other private entities. It has been due to the skill and knowledge of the firm as well as the satisfaction which has the client returning over the years. The staff have been integral in the achievements of the firm with the long hours placed by the respective departments, and the ability to satisfy the clients with final extensive reports. At BDO Bahamas, the staff are aware that they are part of a team of reputable businesspeople in a global network and strive to excel in their duties.

FUTURE assessment The new norm
Mr. Clifford Culmer and the management at BDO Bahamas and staff showed exceptional strength during the extreme and heightened times. The mandate was to work from home during the pandemic, and the office was physically shut for months with staff dedicated to their clients from various locations. The firm weathered the challenges as did many around the world, and expectations remain hopeful. The strategic position of the firm and expertise places it in an advantageous position to face the challenges ahead by safety practices in the workplace, and its strong work ethic. It is important that the clients are aware that BDO Bahamas is there to advise them with their financial needs and solve their problems.  The firm thanks its clients and the public as it strives to continue in its success and growth over the coming years. For your quote or more information please call 1 242 3256591 Or e-mail us at info@bdobahamas.com   www.bdobahamas.com