- We continue to invest in initiatives to enhance audit quality. This includes the upcoming introduction of ‘in-flight’ quality control reviews, mandated consultation requirements and specialised Engagement Quality Control Reviews. We have a dedicated team to assist with internal quality control monitoring, have started a local Quality Lab, appointed a Quality Management Leader as we conduct ongoing Engagement Quality Control Review (EQCR) Training.
- As part of a global network we often have our Core Accreditation Criteria reviewed by BDO Global in the following five areas: Audit Quality, Independence, Brand, Information Security/Privacy and Professional Indemnity Insurance.
- The BDO in SA National Auditing and Accounting Standards Committee (the Technical Committee) have protocols regarding IFRS and Audit mandatory consultations, and this is enforced across every business no matter the industry or size. Our Mandatory Consultations are also supported by a Key Audit Matters Committee and our partners and directors attend relevant and regular training to ensure they stay technically up to date.
- BDO has a Global Centre for Audit Quality and we have access to BDO's Regional Head of Assurance Quality – EMEA.
- The BDO Global Quality Monitoring Programme (QMP) is designed to monitor firms’ adherence to and compliance with professional standards, as well as incremental BDO standards and requirements, including policies, procedures, methodologies and tools.
- Client engagements are done via our globally-developed client portal.
- Our rigorous internal engagement quality reviews and internal compliance processes (such as annual internal quality control file reviews) use a risk-based approach.