BDO has won tender for SAP's global audit
18 March 2021
The Supervisory Board of SAP SE has decided to propose BDO AG Wirtschaftsprüfungsgesellschaft as the firm’s auditor for the financial year 2023! This is a great win, and a gamechanger, not only for BDO Germany but for our entire network as well.
This tender was initiated early to ensure that the new audit firm had sufficient time for onboarding and transition. SAP shareholders will decide on the appointment at the Annual General Meeting in 2022.
Although responsibility for the audit is assumed by the current audit firm until 2023, BDO Germany has been asked to already start with the preparation. On the SAP side, a transition team has been formed and BDO is already in close contact to prepare for the mandate takeover. It is particularly important to ensure our independence as a network,. In collaboration with SAP and the dedicated transition team, BDO Germany will set up an SAP Academy which will be used as the global single source of information for onboarding our global SAP audit teams.
Together with Volkswagen, SAP is the biggest company in the German DAX index in terms of market capitalisation. BDO Germany follows KPMG AG as company auditor. Extending KMPG's mandate was no longer possible due to regulations requiring a regular rotation of the auditor.
We are thrilled with the prospect of a close cooperation as ONE BDO. Of course, we will continue to learn about the insights and experiences gained from working with the dedicated transition team of SAP.
Read the press release