With £102m in audit fees it was BDO Stoy Hayward that convinced our judges
that it should take the 2008 Audit Team of the Year Award.
Average fees per client grew by an impressive 13.7% in 2007/08, while further
justification for the firm’s success came in the form of a 57% increase in fees
in the FTSE 250 index.
According to the judging panel, BDO Stoy Hayward’s award comes in light of an
impressive list of testimonials.
‘The firm clearly listens to clients and offers a more personalised service,’
the judges said.
The nod echoes the firm’s ‘we listen…we deliver…we grow’ philosophy to its audit
business and is exemplified through the adoption of a Client Listening Programme
(CLP), which measures a client’s satisfaction level.
The CLP includes face-to-face interviews by the firm’s senior partners and
telephone interviews undertaken by an independent bureau. In 2007/08, more than
371 client companies were involved in the CLP.
The strength of the CLP is underpinned by the 90% of audit clients who would
consider recommending BDO Stoy Hayward to other organisations. It’s also
measured with a satisfaction score year-on-year, of which the rating has
consistently increased over the past three years. In 2007/08, the CLP scored 7.9
out of 10.
Such a focus on client service is qualified by the partner-intensive approach
adopted by the firm, with two partners for up to 16 staff.
Over the past three years, the firm’s auditing business recorded growth of
£30.6m, equating to compound annual growth of 12.7%.
With 600 offices in more than 100 countries, BDO Stoy Hayward offers
commercial and practical advice across areas of real estate and construction,
retail, financial services, manufacturing, technology, media and
This is the second consecutive year BDO Stoy Hayward has been named as a
finalist in the Audit Team of the Year category, missing out in 2007 to KPMG.
Passed the test
BDO Stoy Hayward’s commitment to service quality is backed by a rigorous
training and development program. The professional and advanced stage exam pass
rates are 7.7% above the national average.
The firm has invested in the provision of online training modules, while
retaining softer skills training.
Secondments are also core to the program. This year, placements across the
international network grew by 50%, comprising 39 outward and 46 inward
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
Six new partners have been revealed by top ten firm Mazars