Elevate your business performance with BDO Internal Audit

In recent years, the internal audit function has been moving from one that serves as a gatekeeper to a value creator. Where internal audit used to ‘just’ keep businesses out of trouble, it is now a tool to lift operations to a higher level. At BDO, our personal and innovative approach is based on our desire to help you gain new focus on business performance and create value over the long term.

We work to help you increase risk awareness in your organisation, change employee behaviour toward responsible risk taking, contribute to organisational learning and monitor internal controls to assess risk exposure in light of risk appetite.

the financial services environment is changing rapidly, and internal audit functions must adapt just as fast. Our three areas of focus are:

1. We adapt to changing market developments

Our clients are confronted with new technologies and customer preferences, greater enterprise risk and ever-changing laws anp13&14 - d regulations. This has a tremendous influence on the dynamics of business environments. We give our clients innovative internal audit functions to create external value from the inside out.

2. We turn insights into foresight with new technology

We help clients do more than just manage present risks: we are able to predict future results. Our internal audit services have made the shift from not only providing hindsight and oversight - a reactive approach - to giving insight and foresight - a proactive approach, using technology-driven methods.

3. We ensure better alignment and accountability

It is important that the activities and responsibilities of the risk management and internal audit functions are well-aligned to prevent inefficient overlap and unnecessary business interruption. The internal audit function should also be accountable for its operations and impact on the organisation. What are the key performance indicators for your internal audit function, and how does this contribute to the company’s strategic goals?

BDO’s vision for internal audit

At BDO, we believe that the internal audit function should adapt to your company’s environment and reflect your strategy and long-term business objectives. Industry leaders run their internal audit function as a business department, with its own key performance indicators and using the appropriate resources (e.g. skills, expertise). A well-functioning internal audit function will add value to your business through the following:

Assurance provider: With our internal audit services, we can monitor your internal control and the effectiveness of your business processes. We also make sure that you are always compliant with changing laws, regulations and internal policies.

Business improver: Our integrated internal audit approach provides you with valuable business insights and helps you improve the efficiency of your operations and the performance of your company.

Strategic adviser: BDO helps you turn your insights into foresight to give you a competitive advantage. We always try to involve internal audit in key strategic initiatives to consult with management from a process and control point of view.

Our three pillars for success

The success of BDO’s internal audit services rests on three pillars. Together, they form the basis for long-term value creation throughout your entire organisation: 

Technology-driven execution

Today, audits based solely on sample-based testing are not sufficient. Companies need the best technology tools available to gain deeper insight into their business - and do it cost-effectively. With this understanding, BDO has implemented innovative tools and analytics methodologies that we use as an integrated part of internal audits.

Predictability of results

Your key risks and key performance indicators are the starting point when setting up an internal audit strategy, because they help to focus the organisation on important goals. These may include improving productivity, reducing costs, launching new business models or averting risks within current operations.

Creating a stimulating culture

In addition to procedures and regulations, the company culture and the behaviour of employees are important contributors to an organisation's success. At BDO, we have developed unique soft controls to identify these aspects and integrate them into your internal audit function with the objective of influencing behaviour and culture in a performance-enhancing way.

BDO internal audit: Aims to give you precisely what you need. BDO can unburden you by delivering specific services and expertise to implement or improve your internal audit function.

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