Internal Inspection Programme or other Monitoring Procedures, an assessment of compliance with professional and incremental BDO standards and the review of a sample of assurance engagements. The Quality Assurance Review programme is managed by the Global Quality & Risk Management department and is carried out by a teamof independent and suitably qualified dedicated reviewers, for whom an ongoing training process is in place. Many of our firms are also subject to external inspections by local professional institutes and local regulators, or undergo a peer review. ACCREDITATION The primary purpose of the accreditation process is to enhance all our firms’ focus on quality, in line with the key global strategic aim to deliver consistently exceptional and high quality services. Both the process of, and the criteria included in BDO’s internal accreditation procedure are subject to consistent revision and strengthening. Every firm receives an accreditation score based on an assessment of compliance with 56 criteria, for each of the
Our QualityMonitoringProgramme consists of: • An Internal Inspection Programme for firms with more than five audit partners • Other Monitoring Procedure s for firms with five audit partners or less • The International QualityAssurance Reviewprogramme for all firms with an audit practice. • The Internal Inspection Programme for audit is performed at firm level on an annual basis by the firm’s partners and directors. A set of global criteria for what constitutes a satisfactory Internal Inspection Programme has been developed which covers an assessment and monitoring of our firms’ compliance with professional standards, including leadership responsibility for quality, ethics and independence, client acceptance and continuance, human resources, engagement performance and monitoring. The evaluation of a firm’s performance also involves the review of a sample of assurance engagements. Other Monitoring Procedures are implemented and performed at firm level by the firm’s partners and directors on a periodic or continuous basis, depending on the nature of the procedure. These are focused on compliance with professional standards and incremental BDO standards. Quality monitoring on a global level within BDO originates from the BDO Regulations, which stipulate that each firm is subject to regular Quality Assurance Reviews. In practice, this results in a process where each firm is reviewed at least once every three years. Equally, the results of the Internal Inspection Programmes are monitored through the global Quality Monitoring Programme. The scope of a Quality Assurance Review covers an assessment of the design and effectiveness of the firm’s
following categories: • Audit &Assurance • Tax Advisory • Tax Compliance • Advisory • Business Services &Outsourcing • Risk Management • Business Development &Marketing • HR & Development • Firm Development &Governance • InformationTechnology.
GLOBAL REVIEW | 2018
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