BDO Governance: Options, Issues, and Recommendations for Improvement

This report provides an analysis of BDO's governance options and the issues it faces. It begins by outlining several governance options, including leadership and accountability, independence, Sarbanes-Oxley compliance, controls assurance, and enhancing strategies for value creation. The report then identifies key issues such as the dynamic market, scarcity of talent (especially in technology), and the increase in sophisticated cyber-crimes. Recommendations are offered to address these issues, including embracing sustainable technology, focusing on talent acquisition, training, and retention, and implementing more sophisticated system software with robust information security measures. The report concludes that by adopting these strategies, BDO can enhance its competitiveness, mitigate risks, and ensure long-term sustainability.

BDO, Governance Options and Issues
Student’s Name:
Institution:

INTRODUCTION
The BDO is responsible for consulting, tax,
advices on maters finance and assurance. The
BDO is guided by codes that are enshrined in set
principles that have evolved over time. These have
allowed tremendous changes in BDO governance
in services to organizations.
The principles of governance as per Walker (2009)
no longer concentrate on the non- executive
directors, the chairpersons, and chief executive
alone but have extended to include ethics, values,
and culture in an organization.

THE GOVERNANCE OPTION
1. Leadership and Accountability
The leadership "essentialism principle“- an idea
incorporated into a significant number of
innovative organizations.
Essentialism implies to carrying out the things that
are critical to the association.

Cont’d
In BDO, essentialism has leads to steady quest
for review of quality, have shaped corporate
structure of governance ensuring
accountability, underscore risk management,
empower joint effort among the groups, and
dealing with critical customer issues
(Christensen & Lægreid, 2015).

Cont’d
It promote accountability and good leadership, enabling
BDO TO set up oversight structures and collaborative
oriented structures for the Assurance and Tax business
lines through MP (managing partner). This is the role that
is spread and cascaded downwards to managers in various
regions of operation.

Cont’d
The structure advances joint effort and an all-
encompassing way to deal with the
administration.
The insight and mentorship of the MPs coupled
with the focus on risk management support and
enhance the review of quality (Houck, 2017).

Cont’d
BDO gives priority to this information by
assigning an officer to be responsible for the
cyber-security program together with
infrastructure.
The BDO is Modeling Leadership by allowing
employees to participate in the training.

Cont’d
The BDO is Modeling Leadership by
allowing employees to participate in the
training.
This program supplements the current
experienced proficient leadership aptitudes
and succession planning (Faris & Abdalla,
2018).

2. Independence in Fact and Appearance
The assessment of audited data is dependent
upon BDO’s uprightness and objectivity of
the experts who undertake the review and
who are not reduced by benefit weights or
irreconcilable interests.

Cont’d
The organization has put in place a tracking
system to help experts in following to
autonomy rules with respect to their own
ventures. The tracking system cautions
experts and the firm when individual
venture property may display issues for the
firm.

3. Sarbanes-Oxley Section (SOX) Compliance
BDO assists organizations be IPO compliance by
installing to them the SOX 404 so as to enhance processes,
decrease the danger of extortion and utilize business
assets.
The BDO's experts dealing with advisory have helped
customers globally divert and build up SOX compliance
systems and controls.

Cont’d
BDO take a practical perspective of the
method of accomplishing system objectives
with cognizant of the fact that a number of
organizations need a multi-step approach.
They give value-added capacities to make
inner control monetary systems following
existing rules.