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Think of the audit as an organisation’s health check. A legal obligation for many companies, an audit also gives vital assurance about the viability of the business.
As auditors, we look to see if the client’s statements about their financial position are true, fair and accurate. We work closely with their finance team and other key people to get to know their business well and understand the risks they face. Then we can identify any weaknesses in their financial statements, business systems or culture, and so advise them on suitable solutions.
A BDO client will generally have some short-term goals and a long-term vision – but standing in their way will often be a number of tax-related issues. Our job is to act as guides through the complex, ever-changing landscape of tax legislation, to help our clients get where they want to be by the most effective route.
To do this, we must offer many different tax services. These include day-to-day compliance with the tax authorities, advice on employment taxation and international tax, transaction support for deals such as mergers and acquisitions, VAT services, expatriate tax advice and more. Such a diverse offering means we need similar variety in our team. We need specialists who can handle the most technically challenging and sector-specific issues, we need versatile and people-focused individuals who can field a wide range of questions from large owner-managed businesses, and we need brilliant innovators who can work on tailored solutions to address a client’s specific circumstances.
Not a single business stream but a whole set, our seven national advisory streams deliver more than 25 distinct services between them, to a broad range of clients and markets.
As businesses grow, so do the challenges they face. BDO’s advisory services help our clients to meet these challenges at every stage of their life cycle. Such key events might include buying a new business, or exiting one in order to extract maximum value. A business might run into financial difficulties – we can help there too, stepping in to stabilise and restructure the organisation. We have other advisers who specialise in resolving legal disputes with a financial dimension (this is called forensic accounting) or in fighting fraud. A company may wish to expand internationally, float on a stock exchange, manage its risk or achieve specific long-term objectives – our advisory streams provide expert support in all these areas and more.
The financial services sector is particularly dynamic and specialised, so we maintain a dedicated stream of advisers focused exclusively upon it.
Clients include retail banks, capital markets firms (e.g. investment banks), insurance companies and asset management firms. All of these operate in a landscape of intense competition, economic pressures and ever-evolving regulation, while each will face its own particular challenges too. So our clients need us to understand the technical and commercial aspects of their business, while rapidly responding to new developments to help them stay one step ahead. We have proved that we can meet that need – 96% of our financial services clients would recommend us.