Learn how BDO the Netherlands is scaling financial statement procedures, while increasing quality of service and time-to-market

Key highlights

• 3x efficiency gain Repetitive audit tasks in the Financial statement procedure are performed 3x faster with intelligent automation, resulting in faster time-to-market.
  
  
• Improved quality Efficiency gains through automation allow for even more focus time on audit risk areas, which leads to an overall higher audit quality.
  
  
• Innovative culture Auditors can focus on the work they love, improving overall work culture and employee retention.

Challenge

BDO NL delivers high-quality services to more than 2.000 customers per year. To increase audit quality and manage risk, standardized processes are key. Within this strategy, BDO NL has implemented an internal Delivery Centre. This specialized team is equipped with the knowledge, resources, and tools to execute repetitive audit tasks at scale. In this team, automation tools are key.

BDO NL embraced the DataSnipper Platform back in 2019 to improve overall audit quality and efficiency. However, within their financial statement procedures, still, too much time was spent on manual work, like recalculating financial statements and checking consistency and version differences by scrolling back and forward through client documents. How does BDO NL drive audit agility and innovation, while increasing audit efficiency and quality?

"The Financial Statement Suite provides major efficiency improvements and offers features that truly support our teams in analyzing financial statements at scale. It drives the standardization of our procedures to increase the overall quality of service."

Marco de Kruijk

Senior Manager Audit & Assurance

Solution

One of BDO's key pillars to drive innovation is simple. Automating and scaling repetitive tasks with machine intelligence, while auditors stay in control. Releasing the pressure creates more valuable time for auditors to focus on what they love most – analyzing exceptions and advising clients. To build towards this long-term vision, BDO NL introduced DataSnipper's Financial Statement Suite (FSS) to their innovative automation toolset, on top of the DataSnipper Platform.

FSS enables BDO NL to scale its financial statement procedures. The Financial Statement Suite is designed to perform and review financial statements. The suite automatically analyzes the financial statement and helps BDO to both perform and document all financial statement procedures, like verifying mathematical accuracy, internal consistency, and prior year consistency. Ready to include in their audit file.