Quality at BDO

The importance of quality at BDO is invisiged in our values as well as our global vision, to be the leader for exceptional client service always and everywhere. Being part of the international BDO brand adds to the responsibility of meeting the quality requirements we face as an audit firm, therefore ensuring quality both on engagement and firm levels is one of our top priorities at BDO. 

We have quality management policy and procedures in place to ensure design, implementation and operation of the quality management system which complies with International Standard on Quality Management 1 (ISQM1) and BDO’s global policies, is risk based, responds to the firm’s quality objectives and endorses respective responses to address the quality risk. 

We set ourselves the quality objective of providing the highest quality of audit, financial statement reviews and other assurance engagements h in accordance with professional standards and applicable legal and regulatory requirements and thus serve the public interest.  

We demonstrate the said quality objective by the following commitments and responses:  

• Establishing the ‘Tone at the top’ approach which means that the firms leadership recognizes and reinforces the singular importance of quality and therefore sets tone and directs the staff in achieving quality objectives  

• Hiring, developing and retaining exceptionally skilled personnel who always perform engagements using professional skepticism and judgement  

• Client acceptance procedures in place to ensure the highest standard of professional ethics and independence. The regulatory compliance team oversees the procedures in due course  

• Deployment of BDO’s global technological and intellectual resources to ensure seamless functioning of the quality management system and delivering the highest standard of engagement performance. These resources cover audit methodology and the leading audit software tool  

• Availability of Audit & IFRS Technical Desk within the firm, consulting the engagement teams on the difficult or contentious matters 

• Observation of 10 Audit Quality Indicators initiated by BDO for quantitative evaluation of audit quality and improve those indicators, if necessary, to facilitate effective quality management on engagement as well as firm level  

• Continuous observation/monitoring of quality and instant addressing of identified deficiencies, implemented with the support of our Monitoring and Remediation team. 

What quality means at BDO? 

BDO’s mission, to use our knowledge and experience to help all our communities thrive, relies strongly on our values – people first, professionalism, business ethics and constant development & innovation. In these values our absolute commitment to quality is instilled fundamentally. 

We believe that the foundation of trust in every relationship, and especially in the professional services industry, lays in quality. Providing an effective, efficient, technology-enabled service in compliance with international standards is crucial to gain confidence in our clients, regulators and shareholders. 

We understand the essence of this trust and what it means to our clients. 

At BDO each and every one of us share the absolute responsibility to adhere to quality in the service provision and all relationships and decisions thereon. So continuous striving to ensure quality has become an integral part of our organizational culture. 

Our five quality commitments here at BDO: