BDO unifies audit, risk and control for three lines of defense

The challenge

BDO provides assurance, tax, financial advisory and consulting services to organizations in both the public and private sectors. To maintain high standards and ensure compliance, BDO needed a solution to integrate their risk management, compliance, and internal audit functions and to address:

• Lack of integration in the 3LOD model
• Inconsistent approaches to risk management
• Control and documentation of audit files 

The solution

BDO selected Ideagen Internal Audit for its:

• Capability to define and develop risk methodology
• Proactive stance towards risk management
• Comprehensive control of all audit files and documentation

The implementation

Until BDO unified its audit processes, it faced fragmented risk management practices. With Ideagen Internal Audit, BDO integrated risk, compliance and audit functions while also fostering a culture of proactive risk management. As a result, BDO:

• Achieved seamless integration of risk management, compliance and internal audit
• Implemented a consistent methodology that’s compliant with risk and auditing standards
• Improved performance with offline working capabilities across its global workforce
   

The outcome

Ideagen Internal Audit has significantly enhanced BDO’s audit processes, ensuring better integration, control and efficiency in risk management. This shift improved audit quality, enhanced control, and streamlined documentation processes, ultimately supporting BDO’s goal of maintaining high and consistent standards in everything they do. 

With Ideagen, BDO can:

• Drive audit quality and consistency 
• Improve control and consistency across audit files
• Enhance risk awareness and communication with powerful reporting tools