Audit Innovation

Exploring the edges of what’s possible

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Innovation is the key to getting more from your audit.

Evolving regulations. Disparate technology systems. Staffing challenges. 

All these issues can make the audit process more complicated than it needs to be — and present a real threat to audit quality. At a time when CFOs and finance teams are already overburdened, they not only need auditors with the skills and experience to evaluate their financial statements in the context of their business environment; they need innovative business insights and an exceptional audit experience.

Transformation happens at the intersection of technology and human curiosity. We offer a transformed audit that delivers more with less demands on your resources — more insight on business performance and high confidence to your stakeholders.

 

The BDOADVANTAGE for Your Audit

At BDO, we cultivate a curious mindset in our people: the curiosity to ask questions, challenge assumptions and imagine new possibilities. We continuously evaluate and improve our methodologies, technologies and applications to empower our people and unlock more value from your data. 

The BDOADVANTAGE is our digital audit suite built to enhance the client experience and drive audit quality. It empowers our audit teams to create more insights with greater precision for a seamless audit from start to finish.

Anatomy of BDOADVANTAGE

Our proprietary all-in-one platform is used by every BDO member firm around the world. The platform enables our audit teams to conduct a consistent, customized risk-based audit in line with all professional standards and industry-specific objectives.

By digitizing the audit process, we’ve streamlined ​ planning, performing, documenting and testing to execute a high-quality audit with minimal disruption. 

Automation drives consistent, high-quality execution and significant time savings. ​​Our proprietary applications automate the extraction, integration and manipulation of your data, regardless of its native format or language – lightening the burden for your team.​​ 

And we’ve automated repetitive tasks for confirmations, sampling, and workspace and report checking, reducing the potential for human error and freeing up our teams to focus on more strategic work.

Our analytics capabilities provide our auditors with a complete view of your  data throughout the audit process.  

Full data ingestion eliminates sampling  errors and provides a higher level of  assurance and quality.   

Rapid anomaly and pattern detection  quickly identify items of interest so our team can prioritize the most important items and ask smarter questions of your data. 

The BDO Global Portal serves as a personalized digital gateway to your audit, with real-time project updates and insights on your data. We centralize your audit information and interactions in our secure, cloud-based portal.

Our business insight dashboards help us evaluate the status of your audit.

Together, these tools eliminate surprises and facilitate a more  transparent and collaborative experience.

Our Approach to Audit Innovation

At BDO, we’re guided by professional curiosity and inspired by our core purpose: helping people thrive every day. When we apply our curiosity to audit innovation through the lens of our purpose, the outcomes are deeper insights, better collaboration and greater accuracy, resulting in high quality audits. 

We created BDOADVANTAGE to transform the audit experience by empowering our team to unearth insights beyond the obvious. We use cognitive technology to automate client data extraction and integration, creating significant time savings for your team. We continue to invest in innovative technology to improve collaboration and reduce the burden on our clients.

Human ingenuity and social innovation transform the way we effectively use technology. 

We believe both traditional and non-traditional labor pools are critical to building diverse audit teams with the right experience and skills to conduct the audit of the future. Our culture is centered on the development of our people. We invest in technical, soft skills, and ethics training as well as digital upskilling programs to enable our auditors to deliver high-quality audits for all our stakeholders. 

Our innovation strategy is centered on what’s most valuable to our stakeholders. For our clients, we focus on innovations that create less work for you and harness your data in new ways. For our clients' investors, customers and the broader public, we focus on innovations that deliver more transparency and higher quality.  

Our industry professionals, data scientists and developers collaborate to adapt our technology to the ever-changing regulatory environment and emerging trends.

Understanding the nuances of industry is critical to assessing risk, enhancing quality and uncovering practical insights. We invest in industry-specific analytics and automation solutions to conduct a high-quality audit with your industry in mind.

Case Studies

Case Study

Cutting audit processing times in half with cutting-edge data analysis

October 28, 2022

A large global tax-exempt organization, which focuses on implementing global health programs in 62 developing nations, engaged BDO to conduct its audit.

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Case Study

Saving time and money with Sales Match Analytics

October 28, 2022

A manufacturing company was open to an alternative approach to revenue testing, one that would not only become less burdensome, but also provide greater insights into their business’s revenue.

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A Culture of Innovation

Driven by our purpose of helping people thrive, we view innovation as an opportunity to help our people, clients and our communities succeed. Through our Social Innovation program, we have fostered an environment that allows us to harness the transformative power of new and differentiated thinking.

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Meet Our Audit Innovation Leader

Do work that matters, where you matter.

At BDO, you can do much more than fulfill your career ambitions — here, you can explore your full potential. That’s because we’re committed to helping our employees achieve on both personal and professional levels.


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