The accountancy profession is one of trust and responsibility, acting in the public interest. It is important that each and everyone of us approaches our work with the right mindset – focussed on professional behaviours and delivering quality work.
This year's Transparency Report underlines how important it is that we responsibly and carefully control how, and how fast, we grow. It also recognises our commitment to serving the public interest by, among other things, consistently performing high quality engagements. That’s why this year’s report is heavily focused on audit quality and the journey that we’re on to improve it.
The importance of values and ethics
Values and ethics play a crucial role in how we conduct ourselves as professionals. They help us all to act with integrity and make the right decisions, even in difficult situations. At BDO, we rely on each other to understand and adhere to the ethical principles and values, which maintain the trust others have in us and the quality of our work. We are committed to upholding the highest standards of professional conduct and behaving ethically in all that we do.
What do we mean by quality?
For us, quality is all about doing the right thing, always. It's embedded in our culture and values and every one of us is committed to meeting professional standards, guidance and best practice.
Delivering quality work requires knowledge and experience, good organisation and project management, sophisticated technology, methodologies and above all, good professional behaviour. It's an approach to work that we're passionate about and one that our clients can rely on.
Our Quality Strategic Framework
The BDO strategic framework outlines our commitment to serve the public interest by being:
- Committed to consistently performing quality engagements.
- Committed to high quality, independence and ethics.
In order to meet these commitments we need the right building blocks.
A structured approach
We have a firm-wide system of quality management, built on the methodology of ISQM1 (International Standard on Quality Management, no.1).
Our Leadership Team recognises that investing in quality is the best commercial investment we can make. It enables us to demonstrate our high quality to clients, regulators and society.
We foster a collaborative culture with a quality mindset that is focused on key professional behaviours - acting with integrity, objectivity, professional competence, the courage and confidence to challenge and speak up, and professional scepticism.
Knowledge and awareness
This is supported by continuous learning, accessible guidance and timely communications.
Support and infrastructure
We have the right internal controls and infrastructure in place to support our people in delivering high quality engagements while actively monitoring and improving to ensure best practice.
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