As a BDO member firm, BDO Toyo & Co. has built and managed a world-class quality control system that meets BDO standards. This means, we fully comply with the International Standard on Quality Control (ISQC) and quality control standards in Japan.
Characteristics of BDO Toyo & Co. for each element of a system of quality control stipulated by the ISQC are as follows:
Responsibilities for quality control
We have built our organizational structure with the primary focus on improving the quality of audits. We believe that improving the audit quality will enable us to promptly respond to client needs, resulting in reducing audit risks and increasing clients' satisfaction.
Professional ethics and independence
Our policies and procedures regarding professional ethics and compliance, rules for maintaining independence including rotation rules (the number of consecutive years of conducting an audit) for engagement partners and the prohibition of concurrent engagement in non-audit services, and rules for the prevention of insider trading are more stringent than laws and regulations.
Conclusion and renewal of contract
We ensure strict contract management with due consideration to business and other risks. We believe that strict risk management of contracts leads to increasing clients' satisfaction in the long term.
Recruitment, education/training, evaluation, and appointment of professional staff
We have built and implemented a support framework for professionals to be able to systemically demonstrate their professional skills including recruitment, education/training, evaluation, and appointment of auditors.
Implementation of business
We provide global-standard audit services using the BDO guidelines that comply with the International Standards on Auditing (IAS) and Audit Process Tool (APT).
Monitoring of quality control system
We conduct monitoring pursuant to the Quality Assessment Review (QAR) program established by BDO. Review by the BDO headquarters is carried out every three years.