BDO bolsters audit practice with 600 new trainees following watchdog’s damning criticism
Accountancy firm BDO has hired 600 new trainees, including 400 to its audit practice, after the UK’s accountancy watchdog slammed the challenger firm over the “unacceptable” quality of its audits.
The world’s fifth largest accounting firm will take on board 600 school leavers and university graduates at its offices across the country, with almost half set to based outside of London.
BDO’s bid to bolster its audit team comes as the firm pushes forwards with plans to bolster the quality of its audit work, in the face of scrutiny from regulators.
In July, the UK’s Financial Reporting Council (FRC) slammed BDO as it warned the quality of the accounting audits “remain concerning”.
The FRC’s inspection of BDO’s work found just seven of the 12 audits it looked at were deemed to be of sufficient quality.
The hiring spree will see 70 trainees sent to the North West, 55 to the West Midlands, and 25 in Scotland.
Looking forwards, the accounting firm said it will hire an additional 700 trainees next year, including 500 to its audit practice.