OUR COMMITMENT TO TRANSPARENCY
QUALITY Membership of BDO enables our firms to deliver quality services at the highest level.
During the due diligence process, prospective firms are evaluated against BDO’s membership criteria, which include the prospective firm’s: • Reputation for quality and high ethical standards • Compliance with domestic and international standards and requirements • Commitment and capability to adopt our global policies, procedures, methodologies and tools • Ability to maintain a system of quality control that meets or exceeds the International Standard on Quality Control (ISQC-1). All BDO firms are subject to the obligations set out in the BDO Regulations and are required to abide by our global policies, procedures, methodologies and tools. QUALITY MONITORING PROGRAMME The Quality Monitoring Programme is designed to monitor firms’ adherence and compliance with professional standards, as well as incremental BDO standards and requirements, including policies, procedures, methodologies and tools.
RISK MANAGEMENT The use of the BDO International Risk Management Manual is mandated throughout BDO. It provides guidance on the design and implementation of quality control systems, including cybersecurity, to support our firms’ compliance with both domestic and international standards. Additionally, and in accordance with the requirements of the International Standard on Quality Control (ISQC-1), all BDO firms have their own internal systems of quality control. NEW FIRM ADMISSIONS BDO seeks to admit new firms that share BDO’s values and cultural approach. Each prospective new firm is subject to a due diligence process, the outcome of which forms the basis for the decision of whether or not to admit that firm to BDO. These due diligence reviews are conducted by the Global Quality & Risk Management department, based in BDO’s Global Office in Brussels, or under their direction. The global CEO then makes a recommendation to the Global Board, based on the due diligence report, which ultimately decides on the admission of the firm to BDO.
GLOBAL REVIEW | 2018
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