BDO Strengthens Audit Quality Commitment with Addition of Second Independent Member on Audit Quality Advisory Council

June 25, 2024 at 09:00 AM EDT

2023 Audit Quality Report Highlights Firm’s Dedication to Audit Quality Improvement

BDO USA, one of the nation's leading accounting and advisory firms, today announced the addition of John Fiebig as the second independent member to its Audit Quality Advisory Council (AQAC). Established in 2022, BDO’s AQAC provides input on the firm’s system of quality management, directly advising BDO’s CEO and board of directors on audit quality matters. Also supporting its audit quality journey, the firm released its 2023 Audit Quality Report highlighting the significant and transformative actions and investments taken since 2022 that, together with previous efforts, are driving the consistent and sustainable delivery of high-quality audits into the future.

Fiebig, president of ADIGEO Consulting, LLC – a consulting firm focused on advancing audit quality for the benefit of strong capital markets – brings over 30 years of experience in the audit and accounting profession as a former practitioner and regulator who helps clients improve their system of quality management. “John is an important addition to our Audit Quality Advisory Council,” said Wayne Berson, CEO of BDO USA. “His passion for excellence in audit quality, coupled with knowledge and experience as a former regulator at the Public Company Accounting Oversight Board, are of tremendous value in our journey of continuous improvement.”

Before founding ADIGEO, Fiebig served as senior deputy director and program leader for the Global Network Firm Program at the Public Company Accounting Oversight Board (PCAOB). In his 14 years at the regulator, Fiebig led inspections of registered firms of all sizes, including reviews of top firms and non-U.S. PCAOB-registered firms.

Lillian Ceynowa, BDO’s assurance national managing principal of audit quality, added, “John’s breadth of experience at the PCAOB will help guide our efforts to be a leader in quality. His extensive background will be vital as we assess matters and design solutions that will lead to continuous improvement and impactful change.” As BDO’s head of audit quality and quality management, including inspections and independence, Ceynowa reports directly to BDO’s CEO and to the AQAC. She was previously a PCAOB associate chief auditor.

Fiebig joins Jim Brady as an independent council member of the AQAC. Brady is CEO of alliantTALENT, a subsidiary of alliantgroup LP, and former chief operating officer at Grant Thornton LLP. The independent perspectives of Fiebig and Brady, as well as their deep and varied backgrounds in accountability and oversight, will help BDO continue to identify areas of opportunity and advance its journey. Diverse viewpoints strengthen the firm’s commitment to audit quality, as does transparency around the firm’s actions.

Along with Fiebig and Brady, additional AQAC members include:

Steven Shill, AQAC Chair, Assurance Market Managing Principal, BDO Board Member
William Eisig, Assurance National Managing Principal and Practice Leader
Michael Stevenson, Assurance National Managing Principal – Professional Practice and Auditing
Natalie Kotlyar, Assurance National Managing Principal, National Managing Principal of Industry Groups, BDO Board Member

BDO’s 2023 Audit Quality Report

BDO’s commitment to quality – and a mindset of continuous improvement – reflects the firm’s core purpose and values as well as its ongoing efforts to engage in important and constructive dialogue with stakeholders, including investors, regulators, audit committees and clients.

In BDO’s 2023 Audit Quality Report, the firm shares how the implementation of multiple strategic initiatives strengthens audit quality and builds trust and confidence in the capital markets. These initiatives, building on the strategic foundation set in 2022, are multifaceted and interdependent. The firm is working to ensure changes are not only embraced by BDO professionals but embedded in processes, decisions and daily work. BDO’s leadership and professionals are engaged in this journey and are committed to audit quality excellence in the pursuit of a sustainable and resilient business that serves the interest of the capital markets.

BDO has made numerous investments to improve the quality of its audits over the past two years, including, among others, the deployment of a reimagined approach to learning, an enhanced approach to audit phasing, the implementation of a new methodology enablement group, the continued nationalization and standardization of its assurance practice, as well as the continued expansion of its digital audit suite. To learn more about these initiatives, see BDO’s 2023 Audit Quality Report.

About BDO USA

Our purpose is helping people thrive, every day. Together, we are focused on delivering exceptional and sustainable outcomes and value for our people, our clients and our communities. BDO is proud to be an ESOP company, reflecting a culture that puts people first. BDO professionals provide assurance, tax and advisory services for a diverse range of clients across the U.S. and in over 160 countries through our global organization.

BDO is the brand name for the BDO network and for each of the BDO Member Firms. BDO USA, P.C., a Virginia professional corporation, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. For more information, please visit: www.bdo.com.