BDO wins DAX-30-listed client SAP
11 March 2021
- SAP Supervisory Board proposes BDO as new auditor to its Annual General Meeting
- BDO convinces SAP with "excellent expertise and a modern, innovative audit concept"
- For the first time in years – subject to approval from the AGM - a DAX-30 audit mandate does not go to the BIG Four
BDO AG Wirtschaftspruefungsgesellschaft has won the tender for the audit mandate from the software group SAP. The Supervisory Board of SAP has decided to propose BDO AG Wirtschaftspruefungsgesellschaft to the 2022 Annual General Meeting as the auditor for the 2023 financial year. SAP is the world's largest provider of business software and, in terms of market capitalization, the leader in the DAX-30.
BDO Executive Board Chairman Holger Otte: "We are very pleased that SAP has chosen BDO as its auditor. This confirms that BDO has the national and international expertise and capabilities to support DAX-30 companies as well. The ongoing development of our audit approach, the investments in quality and modern technologies as well as the alignment of structures and processes to the needs of our customers are the key to this great success. I would like to thank our employees, whose commitment enabled this success."
According to SAP, BDO has a "modern and innovative audit concept". Christopher Sessar, Chief Accounting Officer SAP: " BDO convinced us in many ways during the selection process. 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.
With BDO winning the SAP tender, for the first time in years – subject to approval from the AGM - a DAX-30 audit mandate does not go to the “Big Four” of the audit industry.
BDO AG Wirtschaftspruefungsgesellschaft, which celebrated its 100th anniversary last year, employs around 2,000 people at 27 locations in Germany. The firm is a founding member of the international BDO Group, which – as the world's no. 5 in the audit industry - achieved a turnover of 9.2 billion euros in 2020 with over 91,000 employees in 167 countries.