Innovation in audit

Terms such as "Digitalization of audit" and "Innovations in audit" are increasingly common in the professional vocabulary of auditors. What exactly includes the digital world of audit and what innovations in audit can provide BDO in Ukraine?

The digitalization of audit process is our new normal

The world is becoming more and more Digital. Today's reality is a world of data. The rules are implemented in the form of electronic procedures and algorithms. As a result, audit must become increasingly digital to keep up with the changing reality. How do auditors around the world and the international network of BDO, in particular, respond to all the technological changes?

Innovative approaches in audit from BDO Ukraine

The needs of our customers are changing, and we are changing with them. The strategic plan of BDO in Ukraine has four trends, one of which is Digital Transformation and Innovation. Innovation in everything: from the way specialists are hired and developed, to processes and tools we use in our work.

Our goal is to provide clients and partners with a clear understanding of what is most important for business today and in the future. We transform our business to help you transform yours.

BDO Digital Audit Suite

BDO Digital Audit Suite is a complete rethinking of audit experience with intuitive digital processes, methodologies and tools provided through connected BDO platforms.

An essential element of Digital Audit Suite approach is the implementation of the latest technologies, including BDO Global Portal, APT Next Gen, BDO Advantage and Counting Made Simple applications.

BDO Global Portal is a channel for all types of interactions where BDO clients and experts can share information, documents, data, reports, metrics, and updates in a secure, trusted environment. The integrity and confidentiality of customer's data is always maintained.

APT Next Gen is a new digital audit platform that has been successfully used by BDO network around the world. APT Next Gen includes all processes, methodologies and connected platforms with digital support to meet the specific business needs of BDO partners and their clients. Microsoft notes that BDO's APT Next Gen is real digital transformation in action. This global platform is highly adaptable and flexible, the basis of which is the cloud, data and intelligence.

BDO Advantage is a data analysis tool developed by the BDO team to better understand client's business. BDO Advantage includes analytical tools that create data visualization. This tool allows to analyse closely customer revenue streams, purchasing activities, inventory control and movement for a more dynamic study and focus on patterns, trends and deviations. BDO Advantage is risk-based tool that provides the flexibility to develop customized solutions that can easily be applied to any business, component or data set.

Counting Made Simple is an application designed to simplify the inventory process and improve the overall quality and accuracy of counting for auditors and reviewers also.

BDO's culture of cutting-edge innovations is based on these approaches:

BDO Digital Transformation is changing the services we provide to the clients, the way we provide them and the value we add to the clients. Our culture is defined by continuous improvement, and when it comes to business, — innovation changes everything. Therefore, all innovations quickly become the "new normal" for our team of highly qualified auditors and they quickly adapt to the changing needs of the clients in the digital transformation era.

If you need more information or you want to order audit service from BDO Ukraine — contact us, the consultation is free.