Article:

A Leader in Audit Quality

14 April 2022

At BDO, we understand the importance of having a culture of quality underpinning our actions and behaviours across the firm. This approach is particularly true for BDO’s Audit team where a robust culture of quality is at the core of every client engagement.

For Perth-based Audit and Assurance Partner, Sunita Popp, “audit quality is the foundation of what we do”. Since joining BDO in 2004, Sunita has provided auditing and accounting services to a diverse range of private and public companies with either international or national operations.

Specialising in the application of both International Financial Reporting Standards and Auditing and Assurance standards, Sunita regularly performs technical and quality reviews on a number of listed companies, ensuring compliance with both accounting and assurance standards. Sunita said BDO was demonstrating industry best practice when it came to audit quality.

“The Perth Audit business has been built on understanding our clients and our reliability, consistency and excellence in delivering audit quality. This has allowed us to manage the volume and complexity of our client portfolio which predominantly comprises public interest entities. We have invested locally in audit quality with a dedicated team of non-client-facing technical experts that help support the Audit Partners and engagement teams whilst maintaining independence and objectivity which is so important to maintaining audit quality,” said Sunita.

“Throughout my 20-year career in the audit profession, the importance of audit quality has evolved significantly due to changes in financial reporting standards, auditing standards, technology and the general business environment of our clients – this is a continuous process.”

Perth Audit Partner Phil Murdoch said every member of BDO had a role to play in being focused on engagement quality and that the firm’s system of quality control was essential for improving and maintaining engagement quality outcomes.

“We are not complacent when it comes to audit quality. Feedback from regulators, observations from our Internal Inspection Program and our annual Audit Quality Culture Survey continue to support BDO’s culture of continuous improvement, and assist people to make professional judgements. More broadly, our Audit Quality Framework and system of quality management provide the foundation on which we build and maintain a culture of audit quality,” said Phil.

Jane Bowen, BDO’s National Leader for Audit Quality, Partner, Audit and Assurance said she was proud to be part of a growing firm, “doing what I love, every day – whether that’s leading the National Audit Quality team in delivering solutions on global projects, collaborating with colleagues to advance our audit methodology, or dealing with a complex technical matter to find the best solution”.

“At BDO, whether we’re talking to clients in Perth, Sydney or in one of more than 1,700 offices located around the globe, the consultation process is always at the forefront of people’s minds. We’d rather get a resolution on a difficult issue by having upfront conversations, which I think is the bedrock for a strong audit quality culture.

“We also try and make our processes practical and partner led. Our partners are involved in the day-to-day audit discussions where they bring their experience and judgement to bear. BDO has enjoyed considerable growth in recent years, but we’re still quite nimble. It’s a pick up the phone first exercise rather than having too many formal processes.

“So, we’re more agile in our approach and it’s a continual process of improvement for the client as much as it is for us – we’re on that journey together.”

If you or your business are looking for a local adviser with global reach, please contact your local BDO adviser.