A German-led team of BDO firms – including those in the UK and the US – have won its “largest ever international audit client”, software company SAP.
Following a “competitive pitch win”, SAP now plans to propose BDO as the new auditor at its Annual General Meeting (AGM).
As part of the agreement, BDO will also become the software firm’s auditor for the 2023 financial year. SAP is the world’s largest provider of business software and the leader in the DAX-30.
According to Christopher Sessar, chief accounting officer SAP, BDO has a “modern and innovative audit concept” – with the chief noting that BDO convinced the company in “many ways during the selection process”.
He said: “That includes, among others, the excellent expertise in complex accounting and tax issues, the deep understanding of the SAP business model and the modern and innovative audit concept. We are confident that with BDO we have chosen a very good auditor for SAP and are now pushing the transition process forward together.”
Paul Eagland, managing partner of BDO UK, added: “Audits are becoming increasingly global and complex. By winning the international audit of SAP we are demonstrating BDO’s ability to tackle these complex projects and that we have the technology and expertise to deliver across borders”.