2017 Approach to Audit Quality

June 2017

 

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As the financial markets and global nature of business change, BDO’s internal approach to audit quality focuses on the following key external factors:

 
  • Business and regulatory environments in which we and our clients operate
  • Accounting and reporting complexities
  • Oversight of those charged with governance
  • Expectations of investors and other stakeholders
  • Market competition
  • Innovation and sustainability needs that support capital market

With these external factors in mind, BDO employs an Audit Quality Framework based on five elements of internal focus (“pillars”) unique to BDO’s CLIMB strategy. Each element enables us to assess, prioritize, and adjust our investments of resources toward the most impactful activities to enhance the quality of the services we provide. Additionally, such focus furthers our ability to help define the future of the auditing profession in adapting to the changing landscape affecting our clients.
 



The following explores certain activities undertaken in 2017 and those being planned for years beyond that build upon activities and processes described in our 2016 Report.


Our Response to Audit Quality - A Deeper Dive

Click or tap an image below to learn more about our response to Audit Quality. 

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"Despite a dynamic business and political environment marked by post-election speculation as to the impact on the financial reporting regulatory environment and global markets, BDO is keeping our focus. We continue to promote a strategy committed to the delivery of high quality audits that meet the public’s demand for compliance, transparency, and integrity of the financial statements on which we opine."

Wayne-headshot.jpgWayne Berson
Chief Executive Officer of BDO USA, LLP and Chairman of the Global Board of Directors of BDO International Ltd.