National accounting firm · Chicago, IL
BDO USA
National firm offering audit, third-party attestation including SOC reports, tax and outsourced accounting, with industry practices including real estate (residential and multifamily), long-term care, specialty finance and nonprofits.
Profile
- Headquarters
- Chicago, IL
- Size type
- National: Firms with offices in many US regions, serving middle-market companies, nonprofits and public entities across the country.
- Services
- Audit and assurance, SOC examinations (SOC 1 and SOC 2), Tax advisory and compliance, Client accounting services
- Industry niches
- Skilled nursing and long-term care, Multifamily and affordable housing, Mortgage banking, Technology and software, Nonprofits, Manufacturing and distribution, Construction, Health care, Real estate, Banks and financial services, Government and public sector
- Website
- www.bdo.com
- Last checked
- November 11, 2026
Services
Audit and assurance
An audit is an independent CPA firm's examination of your financial statements, ending in a written opinion on whether they are fairly presented under the accounting framework you use (usually US GAAP).
SOC examinations (SOC 1 and SOC 2)
A SOC report is a CPA firm's examination of the controls at a service organization, under AICPA attestation standards.
Tax advisory and compliance
Tax compliance is preparing and filing returns: federal, state and local income tax, sales and use tax, payroll tax, and information returns such as Forms 1099.
Client accounting services
Client accounting services (CAS) is outsourced accounting: a firm keeps your books, closes the month, reconciles accounts, runs payables or payroll, and can act as your controller or fractional CFO.
Industry niches
Skilled nursing and long-term care
Skilled nursing facilities report to Medicare and Medicaid through cost reports, often carry HUD Section 232 financing with its own audit requirements, and depend on reimbursement rules that change every year. A firm that already prepares cost reports and HUD audits knows what reviewers look for and where errors cost money.
Multifamily and affordable housing
Multifamily owners, and especially affordable housing properties, answer to HUD, state housing finance agencies and tax credit investors, each with its own audit and reporting deadlines. A firm that knows HUD's Real Estate Assessment Center (REAC) financial submissions and Low-Income Housing Tax Credit compliance avoids late or rejected filings.
Mortgage banking
Mortgage lenders and servicers need audited statements that satisfy HUD/FHA, Ginnie Mae, Fannie Mae, Freddie Mac and state regulators, plus compliance testing such as the USAP or USAP-based servicing attestation. These deadlines and net worth and liquidity tests are specific to the industry.
Technology and software
Software and SaaS companies face revenue recognition questions under ASC 606, capitalized development costs, research credits, equity compensation and sales tax on digital products in many states, and their customers often ask for SOC 2 reports.
Nonprofits
Nonprofits file Form 990, follow nonprofit accounting standards for restricted gifts and net assets, and, when they spend federal money above the threshold, need a Single Audit under the Uniform Guidance. Boards and funders read these reports closely.
Manufacturing and distribution
Manufacturers and distributors carry inventory costing, multistate sales and payroll, and tax incentives such as the research credit and cost segregation. A firm that knows inventory observation and standard costing audits faster and finds more in planning.
Construction
Contractors are judged by sureties and banks on their financial statements: percentage-of-completion revenue, work-in-progress schedules and bonding capacity. A firm that knows what sureties look for writes statements they accept.
Health care
Health care providers deal with payer reimbursement, cost reports, regulatory compliance and physician compensation rules. A firm with health care clients knows the reporting regulators and lenders expect.
Real estate
Real estate owners and developers rely on partnership tax planning, depreciation and cost segregation, 1031 exchanges and investor reporting. Audits for lenders and investors have their own fair-value and lease questions.
Banks and financial services
Banks, credit unions and other financial institutions are examined by regulators and may need audits under FDICIA, internal audit support and regulatory compliance reviews. Experience with your regulator matters.
Government and public sector
State and local governments report under GASB standards and, when they spend federal awards, need Single Audits. Many are selected through formal procurement, where a firm's government experience is scored.
What to ask BDO USA
- Is BDO USA licensed in our state, and is the partner who would sign our work a licensed CPA there? (Check on CPAverify before the first call.)
- What was the result of your most recent AICPA peer review, and can we see the report?
- Who will be our day-to-day contact, and how often will we speak with the partner?
- How will you bill us: fixed fee, hourly or retainer? What is included, and what would cost extra?
- If we are a public company or broker-dealer: is the firm registered with the PCAOB, and what did its latest inspection report find?
- Will the report be signed by a licensed CPA firm? Only CPA firms can issue SOC reports.
- Who prepares our returns and who reviews them? Is the reviewer a CPA or an enrolled agent?
- Which accounting software do you work in, and do we keep ownership of our books and login?
- Do you prepare and review work-in-progress (WIP) schedules?
- Which regulators do your financial institution clients report to?
- How many governmental audits under GASB do you perform?