Introduction
Land acknowledgement
We honour the true spirit of Indigenous Peoples in Canada and recognize the deep-rooted traumas of the past. We are dedicated to learning the truth from Indigenous communities and partners and committed to moving forward in allyship with meaningful purpose and intent. We are invested in a sustainable future where the land, culture, and traditions of Indigenous Peoples are celebrated, honoured, and respected. Our commitment is reflected in the valuable relationships that we have and continue to build with our Indigenous partners.
To honour and respect the Indigenous Peoples of this land, we acknowledge that BDO Canada LLP (BDO Canada) was established on Treaty One Territory, the traditional lands of the Anishinaabe (Ojibwe), Ininew (Cree), Oji-Cree, and Dakota peoples, and is the national homeland of Red River Métis. We respectfully acknowledge that BDO Canada offices across Turtle Island are located on the traditional, treaty, and unceded territories of First Nations, Inuit, and Métis people.
A message from our CEO
At BDO Canada, we understand that our success is connected to the health of our planet, the well-being of our communities, and the integrity of our business practices. Building a sustainable future requires more than ambition—it calls for action and a shared commitment to creating a lasting positive impact for all.
Over the past year, we have taken meaningful steps to integrate sustainability principles into our operations. We have made significant progress in our environmental efforts, particularly in enhancing data accuracy and refining our decarbonization roadmap. In 2024, we streamlined the data collection process for greenhouse gas (GHG) emissions, achieving greater efficiency and improved data quality. We also recalculated our carbon footprint baseline using enhanced data and methodologies. In September 2024, we formally committed to submitting emission reduction targets via the Science-based Targets initiative (SBTi) by 2025.
We made significant strides in our initiatives this year, starting with a refresh of our self-identification and internal tools to enhance inclusion and improve diversity data quality. We also published our first Accessibility Plan progress update and celebrated milestones like our inaugural Diversity, Equity, Inclusion, and Accessibility (DEIA) Council Appreciation Day. New mentorship programs were introduced, and countless DEIA events took place across local offices and firm wide. From a governance perspective, we released the 2024 Audit Quality Report and conducted our second Environmental Social Governance (ESG) materiality assessment, further strengthening our commitment and transparency.
While we are proud of our progress, we recognize that this is an ongoing journey. The challenges we face—climate change, inequality, and shifting global dynamics—demand bold action and collaboration. This report not only outlines the strides we've made but also sets ambitious goals for the future, underscoring our commitment to being part of the solution.
Thank you for joining us on this journey of shared value creation. Together, we can build a more sustainable and resilient future.
Bruno Suppa
Chief Executive Officer
A message from our Sustainability Program Leader
Reflecting on everything our firm accomplished in 2024, I am immensely proud of the strides we made in advancing our firm's sustainability goals. This year, we transformed from establishing baselines and taking initial actions to achieving new milestones and setting new ambitions. These steps demonstrate our commitment to bending the arc of possibility for our people, clients, and firm. By focusing on actionable, measurable initiatives supported by advanced technologies and robust policies, we continue to drive meaningful impact across environmental, social, and governance dimensions.
We formally committed to submitting our emissions reduction targets for validation by the SBTi by 2025, a critical milestone in our commitment to achieving net zero by 2050. These bold steps will help us realize our reduction targets and create lasting, positive change.
We continued our commitment to fostering an inclusive, diverse, and equitable workplace while supporting our communities. Highlights include the update of new self-identification tools to improve inclusion and diversity data quality, the publishing of our inaugural Accessibility Plan progress update, and the establishment of new mentorship programs to support personal and career development. These initiatives have strengthened our efforts to create a workplace where everyone is valued, supported, and empowered to thrive personally and professionally.
As a sustainability program leader at BDO Canada, I am excited about the future and the opportunity to drive meaningful change. Guided by a strong sense of purpose, we are committed to advancing sustainability initiatives that align with our core values and have a lasting positive impact on the environment and society. Together, we are focused on creating innovative solutions that foster a sustainable future for our clients and communities while enhancing our commitment to the planet for generations to come.
Glory Keong
Sustainability Program Leader
Overview
Sustainability as a strategic priority
Sustainability is a core principle embedded in our strategic framework. We integrate it into the core of our business—from how we serve our clients and develop innovative services to how we support our people and attract top talent. With a global, collective approach, we are committed to advancing sustainable practices and driving meaningful impact for society, the planet, and future generations.
Reporting framework
In 2022, when we embarked on our sustainability journey, we aligned our report with the World Economic Forum's International Business Council (WEF IBC) reporting framework, which provides a comprehensive approach to reporting key sustainability metrics. However, as global standards evolve, there is a growing emphasis on integrating the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) to better identify and manage climate-related risks and opportunities. We will gradually phase TCFD reporting elements into the Environmental section of our report, which allows us to align with emerging best practices while maintaining the core principles of the existing framework. This phased integration ensures a smooth transition, enhancing transparency and enabling us to provide more actionable insights on how climate change impacts our financial performance and long-term strategy.
Additionally, we are proactively positioning ourselves to meet the evolving International Sustainability Standards Board (ISSB) standards, specifically IFRS S1 and IFRS S2, as well as Canadian Sustainability Disclosure Standards (CSDS), which closely align with TCFD principles. This forward-looking approach demonstrates our ongoing commitment to transparency and sustainability excellence.
We continue to use the WEF IBC reporting framework to update our materiality assessment this year and have identified material sustainability topics through effective consultation and engagement with our key stakeholders.
Alignment with the United Nations Sustainable Development Goals (UNSDGs)
In 2022, BDO Canada identified seven UNSDGs where our business activities could have the most significant impact and best align with our strategy. Below, we highlight these seven UNSDGs and remain dedicated to aligning our sustainability efforts with these goals.
- Zero hunger
- Good health and well-being
- Quality education
- Gender equality
- Decent work and economic growth
- Industry, innovation, and infrastructure
- Climate action
For more information on the WEF IBC Index and UNSDGs, see Appendix A.
Commitment to BDO Global
We remain committed to our shared vision—Global solutions. Driven to be the best—which reflects our shared ambition to achieve our core purpose: People helping people.
Our vision and purpose shape how we work, helping us to make better decisions, attract and retain talent, and secure the trust of our clients.
Across our worldwide footprint, our diverse global network teams effectively harness local expertise, innovation, and cutting-edge technology to deliver sustainable, international solutions.
We are proud to be a part of the BDO Global Sustainability Movement. This initiative encourages everyone in the BDO community to explore how to adopt sustainability practices as individuals, professionals, and trusted advisors to clients.
Our commitment is solidified through the BDO net-zero policy, designed to provide all BDO member firms with a standardized global methodology and approach for consistency and auditability of our reporting.
About us
Our professionals value innovation, change, and cutting-edge solutions that meet the needs of today's evolving challenges and opportunities. For over 100 years, our team has served communities across Canada through an integrated service offering that includes Accounting, Assurance, Tax, and Consulting services. This is complemented by deep industry knowledge and positions BDO to advise clients with both domestic and global needs.
BDO Canada figures
- Revenue $1.04 billion
- Partners 472
- Staff 4,673
- Offices 80+
Notes:
All currency in the report is in Canadian dollars unless otherwise indicated.
Canadian details current as of Dec. 31, 2024.
BDO Global figures
- Revenue US$15 billion
- People 119,611
- Countries & territories 166
- Offices 1800
Note: Global details current as of Dec. 18, 2024.
Our core services
Audit & Assurance
- Accounting Advisory
- Capital Markets & Public Company Services
- Third Party Assurance
BDO Digital
- Application Development & Modernization
- Business Applications
- Cloud Services
- Cybersecurity
- Data & AI
- Digital Strategy & Transformation
- Managed Services
- Modern Workplace
BDO Law
- Business Law
- Immigration
- Tax Controversy & Dispute Resolution
- Will, Estates & Trusts
Business Services & Outsourcing
- CFO & Controllership Services
- Cloud Accounting
- Financial Reporting & Tax Filings
- Payroll
- People Advisory
Financial Advisory Services
- Business Restructuring & Turnaround Services
- Deal Advisory
- Forensic Disputes & Investigations
- Risk Advisory Services
- Strategy, Value Creation & Analytics
- Valuations & Modelling
Management Consulting
- Change Management
- Digital Advisory
- Public Sector Strategy & Transformation
- Strategy, Value Creation & Analytics
Personal Debt Solutions
- Debt Counselling
- Consumer Proposal
- Bankruptcy
Tax
- China Practice
- Credits & Incentives
- Customs & International Trade
- Domestic Tax
- Expatriate Tax
- Indirect Tax
- International Tax
- Private Wealth
- Transaction Tax
- Transfer Pricing
- U.S. Tax
Solutions
- Accessibility Consulting
- Practical AI
- Indigenous Communities & Organizations
- Private Equity
- Sustainability
Transforming commitments into actions
This year's theme—transforming commitments into actions—reflects our ongoing efforts to move from intention to impact, guided by our three core pillars: Environmental action, social commitment, and governance structure. In 2024, we advanced meaningful initiatives aligned with the priorities identified in our refreshed materiality assessment, reinforcing our sustainability commitment.
| Sustainability pillars | Description | Success measures | 2024 highlights |
|---|---|---|---|
| Environmental action | Embed environmental action and leading sustainability practices into our firm operations with a focus on reducing our carbon footprint. | Achieve net-zero carbon emissions by 2050. |
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| Social commitment | Create an inclusive and equitable work environment that supports the health and well-being of our people and communities through strong social commitments. | Maintain 50% gender parity and 30% representation from combined diversity pillars in senior leadership roles |
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| Governance structure | Ensure our firm governance structure is robust and incorporates leading practices that build trust. |
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Stakeholder engagement and material sustainability topics
A materiality assessment is a fundamental component of our sustainability strategy, serving as a structured approach to identifying and prioritizing the ESG issues most relevant to our firm and stakeholders. BDO Canada conducted its first materiality assessment in 2021, establishing a foundation for our sustainability reporting and strategic focus.
In 2024, we undertook a refreshed assessment to better align with our evolving priorities, regulatory requirements, and industry expectations. This updated assessment examines shifts in perspectives and emerging ESG trends to confirm we address the most material issues driving long-term value and risk mitigation.
Our materiality assessment process involved a comprehensive evaluation of key sustainability topics through direct engagement with internal stakeholders, including partners and employees, as well as external parties, such as clients and vendors, representing a diverse range of industries, company sizes, and geographies.
We conducted surveys to gather insights and supplemented our analysis with external research to assess the priorities of our broader network. The collected data was systematically scored, forming the basis of our materiality matrix, which will help us to prioritize ESG topics with the greatest impact on our business and network.
This process reinforces our commitment to ensuring our sustainability report accurately reflects the issues that matter most. We remain committed to ongoing engagement to ensure our approach evolves in alignment with emerging expectations and industry trends.
| Importance to BDO Canada | ||||||
|---|---|---|---|---|---|---|
| Moderate | Significant | Major | ||||
| Importance to External Stakeholders | Major | Community engagement | Resource availability Diversity, equity, and inclusion | Climate change Air pollution Waste management Ethical behaviour | ||
| Significant | Water management Stakeholder engagement Sustainable suppliers and clients | Risk and opportunity management Transparency and accountability | Training and development Health and well-being Quality of governance Information security | |||
| Moderate | Water pollution Innovation | Biodiversity Talent attraction retention | ||||
Sustainability solutions for business growth and risk management
At BDO Canada, we are committed to continuously adapting our strategy to deliver world-class services that support our clients' sustainability journeys and provide long-term value. Our value-driven Sustainability solutions are designed to help businesses gain a competitive edge by developing sustainability strategies and implementing practical initiatives that deliver significant impact.
We remain agile and forward-thinking as the sustainability landscape is reshaped by factors such as supply chain complexity, evolving customer and investor expectations, the energy transition, and emerging sustainability regulations. By staying ahead of these trends, our clients are well-positioned to navigate the challenges and capitalize on the opportunities within the dynamic sustainability space.
Risk and sustainability assessment
Identify and address key sustainability risks and opportunities through comprehensive assessments tailored to your business.
Attract top talent
Strengthen your employer brand, attract top talent, and boost employee morale and retention.
Sustainability strategy and reporting
Develop clear, actionable strategies and transparent reporting aligned with stakeholder expectations and global frameworks.
Supply chain management and resilience
Enhance the sustainability and resilience of your supply chain to reduce disruptions and meet evolving compliance standards.
Tax strategy and incentives
Uncover opportunities for tax efficiencies and access to sustainability-related incentives and credits.
Sustainable finance
Align your financial strategy with long-term ESG goals to create long-term value.
Comply with regulations
Stay ahead of evolving regulations and disclosure requirements across jurisdictions and build a reputation for reliability.
Digital integration
Leverage digital tools and platforms to streamline data, promote sustainability, and drive operational efficiency.
Data and AI
Harness the power of data and artificial intelligence to drive insights, improve decision-making, and accelerate impact.
Environmental
Overview
Sustaining our planet for a better tomorrow
At BDO Canada, we recognize that real progress must go hand in hand with environmental responsibility. Our commitment to sustainability is rooted in the belief that businesses are integral to protecting the planet and mitigating climate impact. By incorporating environmental considerations into our operations, we strive to create lasting positive change. Sustainability is a priority for us and a fundamental part of our strategy. Further in this report, we detail our Board's engagement in key environmental, social, and governance developments, including our foundational materiality assessment and Diversity, Equity, Inclusion, and Accessibility (DEIA) pillars, among other insights.
We have made significant progress on our sustainability journey and remain committed to taking meaningful action in the fight against climate change. With a clear strategy and steadfast determination, we continue to advance our environmental commitments to position ourselves as a key leader within the BDO Global Net Zero Forum.
Since joining the forum in 2021, an initiative led by our Global office and comprising BDO member firms worldwide, we have been actively sharing our progress and best practices. This reflects the commitment and hard work of our firm's leadership and net-zero teams, who have led the implementation of our net-zero policy and the integration of sustainable practices into our daily operations.
As an influential voice within this global collective of sustainability practitioners, we play a pivotal role in guiding governance best practices as our peers develop their net-zero strategies. Through collaboration with this council, we work to implement and align best practices in operations, with a goal of reaching net zero1 by 2050 or sooner.
[1] According to the Science Based Targets initiative (SBTi), net zero for an organization involves:
- Setting near- and long-term science-based targets to reduce greenhouse gases emissions in line with a 1.5°C trajectory, with the intention to halve emissions by 2030 and cut all possible emissions before 2050.
- Neutralizing residual carbon dioxide emissions either by removing/reducing direct emissions (Scope 1), or by taking steps to reduce emissions indirectly through steps such as purchasing carbon credits from projects that remove carbon dioxide from the atmosphere.
Science Based Targets initiative
In 2024, we officially registered our commitment to setting science-based targets through the Science Based Targets initiative (SBTi), joining more than 10,000 global organizations in ambitious corporate climate action. This globally recognized framework helps businesses set emissions reduction goals aligned with climate science. This initiative provides companies with a clear path to reducing greenhouse gas emissions, ensuring their strategies align with the Paris Agreement's goal of limiting global warming to 1.5°C. With this commitment, we are taking a critical step toward meaningful climate action and accountability.
Climate impact
We recognize climate change's profound risks to businesses, communities, and economies worldwide. As one of Canada's leading professional services firms, we aspire to drive meaningful action and support the transition to net zero by 2050 or sooner. Our sustainability report summarizes our commitment to understanding, measuring, and mitigating climate-related risks while guiding our clients through their sustainability journeys. By leveraging our multi-faceted experience, we strive to be a catalyst for lasting impact and lead by example in the global effort to combat climate change.
Governance
The Board is regularly briefed by the Sustainability team on key developments and emerging issues across environmental, social, and governance domains. Oversight of the firm's most significant risks is carried out through the Governance & Risk Committee, which ensures continued alignment with the dynamic and evolving risk landscape.
Sustainability knowledge is a competency requirement of our Board. In 2024, the Board and Executive Leadership Team went through a curriculum to further their understanding of climate change and its impact on our business. This initiative empowers our leadership so that they remain informed and equipped to discuss sustainability as part of our strategic review process.
- Greenhouse gas emissions
- SBTi
- Net-zero emissions
- Climate-related risks (transition risks and physical risks)
- Regulatory headwinds in Canada and around the globe
Strategy and risk management approach
As part of our enterprise risk management (ERM), we evaluate the firm's exposure to a wide range of risks, including those related to climate change. Details on the ERM process can be found in the Governance section.
Metrics and targets
In 2022, we began the process of measuring our carbon footprint and establishing estimates for our Scope 1, Scope 2, and Scope 3 emissions. As we align with the Task Force on Climate-Related Financial Disclosures' (TCFD) recommendations on metrics and targets, our carbon footprint report continues to follow the World Resources Institute's (WRI) internationally recognized reporting standards:
- Greenhouse Gas (GHG) Protocol - A Corporate Accounting and Reporting Standard (2015 revised edition)
- GHG Protocol: Scope 2 Guidance (amendment to GHG Protocol) (2015)
- GHG Protocol Corporate Value Chain (Scope 3) Accounting (2011)
- GHG Protocol Technical Guidance for Calculating Scope 3 Emissions (version 1.0)
| Emissions category | 2022 (Estimates) | 2023 (Baseline) | 2024 |
|---|---|---|---|
| Scope 1 | 2,537 | 2,377 | 1,943 |
| Scope 2 (Location-based) | 2,275 | 1,036 | 1,128 |
| Scope 2 (Market-based) | 2,275 | 1,036 | 1,128 |
| Scope 3 | 19,606 | 20,939 | 20,628 |
| Total | 24,418 | 24,353 | 23,699 |
Note: Units are in metric tonnes of carbon dioxide equivalent.
Further details regarding our 2024 greenhouse gas calculations and assumptions are outlined in Appendix B.
We conduct annual retrospective internal reviews to continuously improve our emissions reporting. Each year, our reporting evolves as we refine our data collection processes, address discrepancies, and improve measurement accuracy. As we gain access to more precise data and improve our methodologies, some variations in reported emissions may occur. These adjustments reflect our commitment to transparency and our focus on continuous improvement. By strengthening our approach year over year, we ensure our emissions data remains as accurate and reasonable as possible, reinforcing our dedication to accountability and meaningful climate action.
In addition to internal review, EcoAct (Schneider Electric), an international climate consultancy and project developer that helps businesses and organizations succeed in their climate ambitions, conducted a thorough review of our 2023 greenhouse gas baseline as part of our emissions reduction target-setting process.
Social
Overview
We are committed to fostering a positive workplace that empowers our people and strengthens the communities we serve. Through our efforts outlined on the following pages, we support the diversity and advancement of our people, as well as the innovation of our services.
Recognition
We are proud to have received the following accolades recognizing our hard work in creating an engaging and supportive work environment for our people:
- Canada's Top 100 Employers – Canada's Top 100 Employers is an annual competition published in The Globe and Mail. The list highlights employers with exceptional HR programs and forward-thinking workplace policies.
- Greater Toronto's Top Employers – We were named one of the city's best places to work for the third consecutive year. Distributed online in a special magazine by The Globe and Mail, this award recognizes top employers in the city who offer exceptional places of employment.
- Atlantic Canada's Best Places to Work – Awarded by Atlantic Business Magazine for the second year in a row, this recognition celebrates employers who demonstrate HR excellence across Atlantic provinces.
- Canada's Future Workforce Top 50 Employers – More than 21,000 Canadian university and college students participated in the Brainstorm Student Career survey, ranking their top employer choices.
- HRD Canada's 5-Star Benefit Programs – This recognition from Human Resources Director Canada was awarded following their evaluation of our comprehensive benefits plan and a subsequent employee survey. Our firm received high ratings from our people across multiple areas, ultimately resulting in wins in nine categories.
- Canada's Top Employers for Young People – BDO Canada was selected as one of the recipients of the distinction that recognizes organizations that offer exceptional programs and benefits for young people starting their careers.
- Canada's Most Attractive Employers – As per a survey conducted by Universum, a global brand research, consulting, and communications firm, young Canadian talent recognized us as one of the most attractive employers.
Highlights from our 2024 employee engagement survey
Overall employee engagement score: 88%
Maintaining a consistently strong overall employee engagement score at the same level as the previous year, demonstrates a positive trend of sustained engagement within our workforce.
What our people say engages them about working and growing their careers at BDO Canada:
- Our approach to diversity, equity, inclusion, and accessibility (DEIA): 90%
- Our approach to supporting their growth and development: 88%
- Our approach to flexibility and well-being: 89%
- Our approach to sustaining their pride in and commitment to BDO Canada: 88%
- Our approach to innovation: 90%
- Our approach to leadership: 89%
Maintaining highly engaged teams is a crucial part of achieving our vision. Based on the survey results, we've identified the following firm-wide priorities to further enhance the experience of our people and partners:
- Continue to foster recognition and appreciation
- Continue to educate our people
- Continue to build trust and transparency
Representation. Respect. Opportunity.
At BDO Canada, DEIA is more than a set of initiatives—it is fundamental to who we are and how we thrive. We are committed to fostering a workplace where everyone feels a deep sense of belonging and where differences are acknowledged and embraced as catalysts for growth and innovation.
Our commitment to DEIA is woven into the fabric of our culture, shaping the way we attract, support, and develop talent. By championing inclusivity at every level, we strengthen our ability to deliver exceptional service to our clients and create meaningful impact in the communities we serve.
This year, we deepened our commitment by expanding our DEIA data collection to include race-based insights on our people and partners, enabling us to better understand representation and identify areas for enhancement.
We envision a firm that mirrors the diverse perspectives and backgrounds of the world around us—a workplace where every individual has the opportunity to succeed and where authenticity is not just welcomed but celebrated.
Our National DEIA Advisory Council
Our commitment to DEIA is reinforced through strong leadership and strategic oversight. Our National DEIA Advisory Council is pivotal in driving our DEIA priorities forward, ensuring they receive the necessary support and resources to create meaningful impact. Each of our DEIA pillars below is championed by an Executive Leadership Team sponsor, who actively promotes the pillar's objectives, secures senior leadership support, and works to eliminate obstacles to progress.
- Indigenous Peoples
- Persons with Disabilities
- Pride at BDO
- Racialized Groups
- Women
The key focus areas of our National DEIA Advisory Council are:
- Learning and awareness – Foster a deeper understanding of the lived experiences of individuals who identify with our DEIA pillars. The council aims to amplify diverse voices across the firm and promote inclusive behaviours through education, storytelling, and dialogue.
- Mentorship and sponsorship – Focus on developing mentorship and sponsorship programs to support the career progression of underrepresented groups. This includes creating mentorship opportunities, providing opportunities for professional and personal growth, creating a sense of community on a local level, and establishing talent pipelines.
- Representation and inclusion – Increase representation and sense of belonging within the firm. This involves celebrating cultural events, promoting diverse talent, and ensuring equal opportunities for all employees.
DEIA celebrations
Our DEIA celebrations are moments of insight and connection throughout the year. Whether it's thought-provoking discussions or engaging storytelling, each event is designed to spark conversation, deepen understanding, and bring our community closer together. It's part of our duty to create spaces where every voice matters and every story is honoured.
| Date | DEIA firmwide webcasts | Event description |
|---|---|---|
| Feb. 22, 2024 | Black History Month | The theme of 2024's live event was Occupying Powerful Spaces, and it featured an impressive lineup of speakers, including accomplished physician, spoken word poet, and advocate for racialized and marginalized populations, Dr. Chika Stacy Oriuwa. The event also featured Nkechi Nwafor-Robinson, Founder and CEO of Empowered in My Skin Inc., author, professional bodybuilder, podcast host, and inspirational speaker. They shared actionable strategies for transformative leadership, mental health and wellness, and how to ignite change to build a more equitable and inclusive future for all. |
| March 7, 2024 | International Women's Day | We celebrated our Women in Search of Excellence (WISE) Awards for the third year, shining a light on the incredible contributions of BDO Canada women who champion strength, empowerment, and authenticity within our firm and beyond. BDO alumna Sarah Hawco shared her inspiring story of demonstrating resilience, strength, and determination to triumph over personal difficulties. |
| May 16, 2024 | Mental Health Awareness | We recognize the importance of looking after our mental health. Our annual webcast included learning from Kelli Chu, our keynote speaker from Unsinkable, about navigating adversities in life. It also addressed the importance of showing compassion in the workplace, strategies and tips for maintaining mental well-being, and resources available to support us. Our firm values include being kind, including to ourselves, and prioritizing our own mental health and well-being. |
| Aug. 15, 2024 | Pride Season Celebration | BDO Canada offices nationwide tuned in to hear renowned Canadian drag queen Priyanka share her story and discuss what showing up as her authentic self in the workplace means to her. During her chat with Rachel Gervais, Managing Partner, Tax and executive pillar sponsor, the two discussed Priyanka's experiences and insights on navigating identity and maintaining unwavering positivity in adversity. Adding to the celebratory atmosphere, BDO Canada employees were also treated to a drag performance by AnnaLynne Mokho, a drag queen from Saskatchewan who was voted Saskatoon's Lip Sync Assassin in 2023. We also heard from our two Pride at BDO pillar leads, who shared their thoughts on authenticity and set the tone for a wonderful and inclusive celebration. |
| Sept. 23, 2024 | National Day for Truth and Reconciliation | We came together virtually to recognize the National Day for Truth and Reconciliation and keep it at the forefront of our conversations. We were honoured to be joined by Mike Downie, co-founder of the Gord Downie & Chanie Wenjack Fund, and Bob Watts, a member of the Mohawk and Ojibwe First Nations. Bob has made significant contributions to Canada's Truth and Reconciliation Commission as well as the Assembly of First Nations. They discussed the work of the foundation and shared their experiences with reconciliation. We also heard what's next on BDO Canada's truth and reconciliation journey and resources to get people involved. |
| Oct. 15, 2024 | National Disability Employment Awareness Month | The firm tuned in to recognize Disability Employment Awareness Month to celebrate and promote employment inclusion for persons with disabilities. Our keynote speaker was Marco Pasqua, who challenged assumptions about employing people with disabilities, and emphasized the importance of creating meaningful access. His personal story highlighted how individuals are not defined by their circumstances but empowered by them. After the keynote, we hosted a panel discussion on neurodiversity, where BDO Canada employees shared their experiences and spoke about how neurodiversity has influenced their careers. They explored ways to promote a culture of awareness and acceptance of neurodiversity in the workplace. |
Diversity at a glance
As part of our commitment to fostering an inclusive and equitable workplace, we embrace the cultural and linguistic diversity of our people. This richness of perspectives enhances team dynamics, supports cross-cultural collaboration, and helps us deliver innovative solutions in a global context.
61 different languages are spoken by our people.
English, French, Chinese, Hindi, Spanish, Punjabi, Arabic, Urdu, Russian, Tagalog, Portuguese, Korean, Gujarati, German, Italian, Vietnamese, Japanese, Persian, Bengali, Ukrainian, Tamil, Telugu, Turkish, Greek, Afrikaans, Marathi, Serbian, Romanian, Hebrew, Malayalam, Polish, Yoruba, Dutch, Nepali, Bulgarian, Sindhi, Albanian, Hungarian, Armenian, Croatian, Indonesian, Haitian, Azerbaijani, Dari, Amharic, Pashto, Kannada, Lao, Finnish, Czech, Somali, Sinhala, Bosnian, Thai, Swedish, Irish, Khmer, Danish, Tajik, Slovak, Burmese.
Check Appendix C for a detailed breakdown of our workforce by age and gender, as well as data related to hires, attrition, and promotions.
| Employee type | Under 30 years | 30 to 50 years | Over 50 years | Grand total |
|---|---|---|---|---|
| Grand total | 30.0% | 49.1% | 20.9% | 100.0% |
| Client-facing | 34.1% | 47.2% | 18.6% | 100.0% |
| Partner | 0.0% | 55.2% | 44.6% | 100.0% |
| Director | 1.2% | 38.8% | 60.0% | 100.0% |
| Senior Manager | 1.7% | 75.4% | 22.8% | 100.0% |
| Manager | 22.7% | 64.3% | 13.0% | 100.0% |
| Non-management staff | 52.7% | 34.8% | 12.5% | 100.0% |
| Non-client-facing | 16.6% | 55.1% | 28.3% | 100.0% |
| Partner | 0.0% | 50.0% | 50.0% | 100.0% |
| Director | 0.0% | 62.5% | 37.5% | 100.0% |
| Senior Manager | 0.0% | 77.7% | 22.3% | 100.0% |
| Manager | 4.7% | 64.9% | 30.4% | 100.0% |
| Non-management staff | 22.0% | 57.7% | 20.3% | 100.0% |
| Administration | 20.2% | 46.5% | 33.2% | 100.0% |
| Board | 0% | 50.0% | 40.0% | 100.0% |
| Executive Leadership Team | 0% | 44.4% | 55.6% | 100.0% |
| Senior Leadership Team | 0% | 58.8% | 41.2% | 100.0% |
| Senior leadership type | Women | Men | Grand total |
|---|---|---|---|
| Grand total | 59.0% | 40.7% | 100.0% |
| Client-facing | 52.7% | 47.0% | 100.0% |
| Partner | 29.0% | 70.2% | 100.0% |
| Director | 44.7% | 55.3% | 100.0% |
| Senior Manager | 53.1% | 46.7% | 100.0% |
| Manager | 51.9% | 47.4% | 100.0% |
| Non-management staff | 57.9% | 42.0% | 100.0% |
| Non-client-facing | 79.1% | 20.5% | 100.0% |
| Partner | 37.5% | 62.5% | 100.0% |
| Director | 68.8% | 28.1% | 100.0% |
| Senior Manager | 69.1% | 29.8% | 100.0% |
| Manager | 76.6% | 23.4% | 100.0% |
| Non-management staff | 64.3% | 35.5% | 100.0% |
| Administration | 93.6% | 5.9% | 100.0% |
| Board | 20.0% | 70.0% | 100.0% |
| Executive Leadership Team | 44.4% | 55.6% | 100.0% |
| Senior Leadership Team | 26.5% | 70.6% | 100.0% |
Note: Percentages may not total 100% due to a proportion of individuals whose age and/or gender information was not declared.
Indigenous Peoples Pillar
Our commitment to reconciliation
Indspire
In 2024, our Indigenous Steering Committee and Indigenous Peoples Pillar proudly launched a sponsorship with Indspire. As part of this commitment, a team from BDO Canada attended this year's Indspire Awards to celebrate Indigenous excellence. Additionally, we are supporting Indspire's Building Brighter Futures program, providing sponsorship opportunities for 10 students and helping to empower the next generation of Indigenous leaders.
Education and awareness
- We observed the National Day for Truth and Reconciliation on Sept. 30 with a firm-wide closure to provide our people with the opportunity to participate in educational and cultural events across Canada.
- Our Senior Leadership Team attended cultural awareness training with Indigenous Treaty Partners consulting firm to deepen their understanding of Indigenous history, traditions, and perspectives, fostering a more inclusive and respectful workplace.
- In celebration of National Indigenous History Month and National Indigenous Peoples Day, we partnered with imagineNATIVE, the world's largest presenter of Indigenous screen content, to offer our people access to a program of Indigenous short films.
- We partnered with Design de Plume, an Indigenous and women-owned design agency, to co-create visual narratives that honour Indigenous knowledge systems and reflect our shared commitment to truth, respect, and reconciliation.
- Throughout the year, we hosted book clubs featuring fiction and non-fiction books and podcasts, inspiring our people to discover talented Indigenous writers and hosts.
Persons with Disabilities Pillar
Progress on our Accessibility Plan
In 2024, we actively worked to enhance accessibility and build on the commitments outlined in our 2023-2028 Accessibility Plan. Here are the key highlights of our progress:
- We conducted a two-week accessibility consultation, gathering feedback from employees and clients to shape future plans and validate progress.
- A cross-functional team refined the Accommodations Request Feedback form and tracking process to better and more effectively assess employee needs.
- The Talent Acquisition team has formed a sub-committee of employees who participated in accessible recruitment training offered by Wilfrid Laurier University.
- The Design team introduced a video accessibility hub with resources for creating accessible media and has been soliciting feedback from our Accessibility Consulting team to further improve accessibility in documents and social media.
- We launched an accessible feedback form on our website where clients and members of the public can provide feedback about our services, including their experience with our website.
- We initiated conversations about the accessibility of our internal tools and sites as part of our IT strategy.
- Our internal Brand Resource Centre now includes guidance on accessible presentations and an approved colour palette for visual accessibility.
- Our Learning & Development team worked with subject matter experts across the firm to launch an updated accessibility awareness training course.
The Advancing Accessibility: Designing for Inclusion and Empowerment course is mandatory for all BDO Canada employees. It follows the recommendations from the Accessibility Canada Act (ACA) and was designed to help employees of all levels understand accessibility in three main areas:
- The importance of accessibility for everyone, including the legal frameworks, key terms, and relevant statistics. Understanding why accessibility matters ensures that all team members recognize their role in creating an inclusive environment.
- It demonstrated theoretical models of disability, accommodation strategies, and effective communication techniques. This element is intended to educate on how to interact more effectively and empathetically with colleagues and clients with disabilities.
- The course showed how to integrate accessibility into BDO Canada's policies and practices for a more inclusive environment. By embedding accessibility into our organizational culture, we can ensure that our practices and policies support and empower all individuals.
Championing inclusion through innovation and sport
- The Canadian Institute for the Blind approached BDO Canada for a collaboration. A member of the Persons with Disabilities Pillar tested Meta glasses and reviewed their experience to demonstrate how they can benefit people with vision impairment in the workplace. The main goal is to challenge stigma and negative attitudes about people with sight loss and their ability to succeed at work.
- BDO Canada team members participated in Hoopfest, a wheelchair basketball tournament allowing corporate and community teams to enjoy the thrill of wheelchair basketball. The funds from this event went towards supporting grassroots wheelchair basketball programming in Canada.
Pride at BDO Pillar
We are thrilled to announce our alliance with Pride at Work Canada, a leading organization that fosters 2SLGBTQIA+ inclusion in the workplace. Through dialogue, education, and thought leadership, Pride at Work Canada empowers Canadian employers to build workplaces that celebrate all employees regardless of gender expression, gender identity, and sexual orientation.
This alliance marks a significant step forward in our commitment to DEIA initiatives within our organization. Our collaboration with Pride at Work Canada aligns with our broader mission to drive positive social change and contribute to building more inclusive communities. Together, we strive to build a workplace where diversity is celebrated, inclusion is the norm, and every individual feels valued and empowered.
Marching with Pride
We proudly participated in three Pride parades across Canada in 2024: Toronto and London in Ontario and Calgary in Alberta. By marching together, we embraced the spirit of Pride, celebrating love, diversity, and the power of community.
Racialized Groups Pillar
Listening and learning
Our pillar conducted internal focus groups to understand what pressing issues our racialized community is facing. Insights from these sessions helped us choose the mentorship topics to support in 2024.
We launched a mentorship program for racialized groups comprised of six small-group sessions led by partners from racialized backgrounds on topics such as:
- Improving communication skills
- Etiquette training for professional settings
- Building strong networks and communities of support
- The importance of mental health
- How to prepare your career for the next stage
- Managing imposter syndrome
Celebrating and connecting
To build a stronger sense of community and continue to raise awareness about DEIA, we partnered with local offices to host several events:
- In Vancouver and London, we celebrated Diwali, a festival of lights signalling happiness, prosperity, and new beginnings.
- In Ottawa, we played a trivia game and shared food from various cultures.
- In Toronto, we came together to paint a mosaic of tiles to showcase our collective diversity, as unique pieces unite to create a harmonious whole.
Women Pillar
WISE Awards
In honour of the six inaugural BDO Canada women partners, we continue the tradition of recognizing inspiring women. A record number of nominations were submitted this year for our Women in Search of Excellence (WISE) Awards. This incredible turnout underscores the remarkable achievements and contributions of women at our firm. The winners were honoured at our International Women's Day celebration for their efforts to support and promote excellence within the BDO Canada family and their communities.
- Ashely Slobodian
- Chantal Cousineau
- Elizabeth Tkachuk
- Emily Heinrich
- Heather Jack
- Winnie Phung
Women Driving Growth
At BDO Canada, we support women leaders every step of the way through our Women Driving Growth suite of services. As a Canadian professional services firm offering advisory solutions for enterprise-level women leaders, our women-led team of dealmakers, trailblazers, and financial professionals is committed to helping advance women in their respective markets.
Our Women Driving Growth team established the Women Leader Summit, held nationwide to help cultivate connections among accomplished women business leaders in the C-suite. The summit featured a diverse panel of leaders spanning industries such as banking, manufacturing, automotive, technology, agriculture, and professional services.
Spotlight on: Mentorship sessions for women
- 80 small-group, women-led sessions
- More than 30 topics
- 1,200 attendees
Health and well-being
We remain committed to investing in programs and initiatives that empower our people to achieve their health goals—physically, mentally, and financially.
Our ongoing mission is to equip our people with the resources to:
- prioritize their physical and mental health;
- enhance their productivity, both at work and at home; and
- support their family's health needs.
We take pride in providing accessible, inclusive, and affordable group health benefits, insurance, and retirement solutions for our people and their families.
Listening to and acting on employee feedback is fundamental to our health and well-being program. We actively seek suggestions for improvement through regular surveys and our AssistMe platform, which allows for continuous feedback throughout the year. Additionally, our National Human Resources team regularly reviews our health and well-being offerings to ensure they meet the evolving needs of our workforce.
Well-being program enhancements
We significantly enhanced several of the employee well-being programs in 2024 to provide an accessible, inclusive, and affordable group benefits plan, ensuring every employee can prioritize their wellness.
These changes support a differentiated talent experience and align with the firm's mission and values:
- Enhancing the employee benefits program: Our 2024 updates included fully funded core benefits, increased flexibility in coverage options, and improvements to life insurance, disability coverage, and paramedical services. Improvements to our retirement savings program also contribute to greater long-term financial support.
- Introducing the End-of-Life Care policy: Based on employee feedback, we introduced a new End-of-Life Care policy to support staff who are providing care to a terminally ill family member. We recognize that providing end-of-life care to a family member is challenging, and we are committed to supporting our people in navigating such circumstances.
- Maternity/parental/adoption leave navigational hub: Our maternity, parental and adoption leave program is designed to promote a positive and inclusive experience that meets the diverse needs of our people at each stage of this transformative journey—before leave, during leave, and returning from leave. This newly created navigational hub provides tools and resources to guide each step of the journey and was designed based on the following principles:
- Communication–Encouraging open and transparent communication about plans or changes.
- Connection–Staying connected to the workplace.
- Flexibility–Collaborating and working together to understand needs.
- Support–Providing learning and support resources to facilitate smooth transitions.
Our continued goal throughout 2025 will be to review our existing offerings as well as explore new opportunities to help us align with our goals to provide our people with the most accessible and inclusive wellness support.
Employee reimbursement programs
The following programs provide financial support to enable employee health, wellness, and personal success:
- Wellness Reimbursement Program—This program allows employees to claim wellness expenses each year for items related to fitness, wellness, home office equipment, adult/elder care, emergency childcare, prenatal classes, and financial planning.
- Employee Experience Reimbursement Program—This program provides a taxable reimbursement to employees for a personalized experience (or multiple experiences) and gives our people an opportunity to do something they've always wanted to do. It includes travel (i.e. airfare, accommodations, other travel-related items), events (i.e. shows, concerts, sporting events), recreational admissions (i.e. zoo admissions, science centres, museums), dining experiences, spa experiences, and classes (i.e. cooking classes, dance classes).
Mental health
We recognize that mental health is essential to overall well-being and workplace success. We enable our people to prioritize their mental health and access the care they need through comprehensive support programs, resources, and initiatives. Our dedicated Mental Health Resources hub breaks down the resources we have available:
- We offer a firm-paid mental health allowance for all employees and their families. Getting the support needed is expensive, so we strive to remove any financial barriers that may exist in seeking professional help.
- Our Employee & Family Assistance Program is an excellent companion to our mental health allowance. Employees receive free short-term counselling with professionals in their area to help with any mental health concerns.
- Our mental health education offerings provide a blend of content modalities (videos, courses, book summaries, etc.) and cover different areas of mental health.
- We have additional external mental health resources readily available on our resource hub, including:
- Not Myself Today—An online portal to provide resources and tools to support mental health and create awareness at work and home.
- Healthcare Online virtual care—Includes mental health help.
- Cognitive Behavioural Therapy—Includes preferred pricing and is reimbursable through the firm's benefits plan.
- Other mental health information resources, including Stronger Minds by BEACON, Mind & Body Break videos, HeadsUpGuys, and community mental health resources.
- A partnership with a benefits provider to provide free mental health people leader training.
Spotlight on: Mental health awareness event
- May 2024
- 1,393 employees attended
- Keynote speaker, Kelli Chu, shared her powerful story of her own struggle with mental health after a serious accident, and her inspiring approach to navigating life's unexpected challenges.
- Panel discussion with three BDO Canada employees who shared their routines for maintaining mental well-being, tips for how leaders can encourage their teams to engage in community initiatives that promote well-being and compassion, and how leaders can balance the demands of leadership with the need for self-compassion and self-care.
Building future-ready skills
The Learning & Development (L&D) team at BDO Canada is driven by a forward-thinking strategy that reimagines how we support the ongoing growth of our people, the firm, and our clients.
With a focus on fostering a culture of continuous learning, we are committed to providing top-tier development opportunities that empower our talent to thrive professionally and personally. By offering a blend of formal, social, and experiential learning solutions, we bridge the gap between current skills and future needs, ensuring our teams are equipped to drive business performance.
Guided by the 'never stop learning' principle, our L&D team is dedicated to nurturing best-in-class capabilities that propel our people and the firm toward sustained success.
Learning and development objectives
- Design and deliver comprehensive learning programs to proactively address emerging skills needs and cultivate specialized expertise.
- Maintain high standards by ensuring accessibility, inclusivity, as well as compliance with regulatory and industry requirements in learning and building competence.
- Continuously refresh and enhance training catalogues to stay relevant with industry trends, emerging technologies, and evolving business requirements. This proactive approach provides learners with up-to-date, high-quality resources and makes them ready to navigate technological advancements, adapt to market shifts and evolving client needs, and drive business growth.
Foster a culture of continuous learning
- Encourage a 'never stop learning' mindset by providing equitable access to a range of diverse learning solutions that cater to varied learning needs and different career stages.
- Offer tailored development programs and open enrolment opportunities to ensure equal access to learning opportunities for all employees and support individual growth at all levels.
Support leadership development and career progression
- Invest in leadership development programs that cultivate a pipeline of top-tier talent ready to take on strategic roles within the firm.
- Develop future leaders and partners through internal and external partnerships. This includes:
- Launching a world-class leadership academy to empower partners with cutting-edge strategies and insights for success at the highest levels of leadership.
- Continuing to enhance our internal learning curriculum aligned to the Path to Partner model, including the Senior Manager Development Program (SMDP), SMDP Summit, and Future Leaders Program.
- Strengthening our leaders through internal coaching and developing world-class coaches and partners with our Partner Leadership Program in collaboration with Talent Coach Academy.
Measure and drive impact
- Enhance our metrics to assess the effectiveness of L&D programs, ensuring learning initiatives are measurable and aligned with individual growth and business outcomes.
- Continue a consistent reporting cadence for learning outcomes to senior leadership and service line partners to evaluate the impact of learning on employee engagement and business performance, using insights to continuously refine and enhance our L&D strategy.
Integrate and align with firm strategy
- Align learning programs with our strategic objectives, ensuring that every L&D initiative positively impacts the firm's vision and drives overall performance.
- Foster cross-functional collaboration to integrate learning seamlessly into day-to-day operations, embedding professional development into the fabric of the firm's culture and reinforcing its values.
Promote DEIA in learning
- Integrate DEIA principles into all L&D programs, ensuring that all employees have equitable access to development opportunities and feel empowered to reach their full potential.
- Create inclusive learning environments that reflect the diverse perspectives and experiences within the firm, fostering innovation and collaboration across teams.
See Appendix D for a summary of the hours dedicated to supporting our people through training.
New programs
In 2024, we launched new L&D programs to strengthen communication, advisory skills, and AI proficiency. These initiatives support our people's growth, equipping them with the tools to drive impact, innovation, and long-term success.
- Speak with Impact: This program is a live, two half-day, small-cohort workshop designed to improve the speaking and presentation skills of our partners and senior managers across the firm. The goal is to elevate our firm's communication capabilities and empower leaders by providing practical tools and insights that are immediately applicable to their day-to-day.
- Advisor of the Future: We designed a digital learning journey for the Business Services & Outsourcing team with the key objective of helping learners develop a consultative mindset and value creation for their clients.
- Microsoft 365 Copilot: To advance AI competency firm-wide, we offered a bilingual early-access program with Microsoft 365 Copilot. This program was focused on integrating AI-powered assistance directly into the Microsoft Office suite to drive an AI mindset and help learners understand the full potential of Microsoft 365 Copilot, showing them how it can simplify tasks, boost efficiency, and enhance productivity.
Spotlight on: SkillUP Summit
The SkillUP Summit was introduced in 2024 as a dynamic, coast-to-coast virtual learning experience where every session was carefully designed to connect to key skills we need to cultivate as a firm. This firm-wide three-day event in July focused on three core themes: strategic thinking, inspiring leadership, and AI.
The highlight featured renowned leadership speakers from esteemed institutions like Harvard University, providing attendees with invaluable insights, cutting-edge strategies, and inspiration to drive leadership excellence.
By the numbers:
- 13 sessions totalling 11 hours of learning
- 5 keynote speakers around 3 core themes
- Average of 3,627 participants over 3 days
- Over 60% of the firm attended live
Community and social vitality
In 2024, our firm contributed more than $3 million to our communities through sponsorships and donations, supporting causes nationwide that reflect our values and priorities. This marks an increase of more than 29% from 2023, highlighting our continuous commitment to making a meaningful community impact.
Please see Appendix E for a breakdown of the dollar value of our community investments.
Drive Away Hunger: Today's actions, tomorrow's change
With Farm Credit Canada (FCC), we are proud to continue our annual Drive Away Hunger campaign. For more than 16 years, we have raised awareness about food insecurity and led fundraising efforts to help drive away hunger.
Our firm has been instrumental in providing food to our local communities, helping to alleviate food insecurity, and promoting a strong sense of community. Over the years, our employee-led donation drive has collected more than $3 million to provide 8.5 million meals to help Canadian food banks.
In 2024, we successfully raised $301,860 through a combination of cash donations and the equivalent of 20,000 lbs. of food donations.
Contributions were made to various local food charities nationwide. Additionally, working with Food Banks Canada enabled us to establish an online donation tool, resulting in over $56,000 raised for the organization.
BDO Canada staff raised money for the campaign, taking on everything from skydiving and kayaking to running, walking, an Amazing Race, pie-in-the-face challenges, spicy food contests, and so much more! We picked up leftover potatoes from fields and pallets of culled carrots that would have otherwise gone to waste and delivered them all to Canadian food banks.
We were the first organization to qualify for FCC's 20th Anniversary Matching Program for Drive Away Hunger. Because we increased our fundraising by $83,000 to a total of $335,000 in 2023, FCC matched that increase. This means BDO contributed $418,000 or 836,000 meals in 2024. The matched dollars were equally distributed between Second Harvest and Food Banks Canada.
Local office spotlights
St. John's, N.L.:
- Raised $2,600 for the Cancer Care Foundation from the Polka Dot Trot.
- Raised $2,500 for Bowl for Kids Sake, a Big Brothers Big Sisters initiative.
London, Ont.:
- Raised over $8,200 for Big Brothers Big Sisters through a 50/50 draw at a London Knights hockey game.
Salmon Arm, B.C.:
- Volunteered their time to shop for Christmas gifts for families in the community through the Shuswap Family Resource Centre's Adopt-a-Family program.
Montreal, Que.:
- Bought and delivered (by Santa Claus himself!) 120 gifts for all the kids attending Bel-Essor school which offers specialized services for kids with disabilities.
Edmonton, Alta.:
- Raised $1,445 for the Second Chance Animal Rescue Society by holding a silent auction, virtual pet show, and a playoff hockey pool.
- Volunteered at Operation Friendship Seniors Society for two days to support local seniors.
Greater Toronto Area, Ont.:
- Raised $8,000 for their Movember campaign.
Vancouver, B.C.:
- Raised more than $1,000 from a bottle drive to support the Vancouver Humane Society and Minerva BC charities.
Guelph, Ont.:
- Raised $650 for Autism Canada through a fundraising lunch.
Cornwall, Ont.:
- Wendy McDonald, Senior Manager, raised more than $3,300 for the local United Way as part of a daring event called Going Over the Edge, where she and her two children bravely rappelled down the St. Lawrence Seaway Management Corp.
Support with purpose
Across Canada, we support a wide array of national, regional, and local organizations that align with our values and priorities. Our sponsorships extend to not-for-profits, charities, chambers of commerce, sports programs, associations, and organizations across various sectors.
Some of our impactful sponsorships in 2024 include:
Indspire: A national Indigenous charity that supports the education of First Nations, Inuit, and Métis students through scholarships, mentorship, and educator resources.
YMCA Cycle for Strong Kids: A community cycling fundraiser by the YMCA of Southern Interior BC that helps ensure all children and families can access vital programs promoting health, development, and inclusion.
Alzheimer Society of Manitoba Gala: An annual fundraising event that supports dementia care, education, and research, while raising awareness across Manitoba.
Les Mercuriades (FCCQ): A prestigious business awards program by the Fédération des chambres de commerce du Québec, celebrating innovation and excellence among Quebec companies.
Elite Sponsor of Golf Canada
Through our multi-year Elite Sponsorship of Golf Canada, we're supporting Canadian tournaments that showcase elite golfers in Canada and from around the world. We're also helping to make a meaningful impact through support for programs such as First Tee–Canada, a youth development program that breaks down barriers to access affordable, more inclusive, and life-enhancing experiences through golf. Through our sponsorship, we help support events that attract over 3,000 domestic and international athletes, encompassing a diverse range of talent and skill, united by their shared love for golf.
Innovation to create value
Innovation and sustainability excellence go hand in hand, shaping a future where technology and responsible business practices drive lasting positive impact. At BDO Canada, we are committed to ensuring that our clients and people benefit from AI-powered efficiencies, enhanced insights, and seamless digital experiences.
We embrace the mindset of being 'client zero', meaning we are often the first to pilot emerging technologies, tools, and ideas within our firm before offering them to clients. This approach ensures our people are future-ready, our insights are rooted in real experience, and our clients benefit from proven solutions.
- Experimentation at scale: Teams across service lines regularly pilot new technologies and share learnings to accelerate firm-wide adoption.
- Empowered employees: Our people submit and champion ideas, participate in internal innovation challenges, and help shape firm strategy.
- Applied learning: Through hands-on experience with next-generation tools, our people build future-focused skills that enhance their careers and drive impact for our clients.
Our commitment to innovation continues to be recognized on a national scale. Our firm won the 2024 Microsoft Canada Partner of the Year Award for our early adoption of AI and excellence in implementing client-focused digital solutions. This achievement builds on and reflects our ongoing investment in strategic initiatives that enhance our capabilities and drive innovation.
We track our research and development expenditure to quantify our contribution to innovation and highlight the value of our investments. In 2024, we invested $5,951,710 in innovation initiatives, including internal system investments and consulting services. This is a 93% increase from 2023.
New product and service offerings
We made significant strides in advancing AI literacy and responsible AI adoption to enhance our service offerings and better support our clients.
- Embedded AI literacy into leadership development and employee learning to accelerate responsible AI adoption.
- We embedded AI literacy into both leadership development and employee learning to accelerate responsible AI adoption across the firm. This was undertaken to ensure our people are equipped with the skills, confidence, and ethical understanding necessary to harness AI effectively, aligning with our ESG commitments and business strategy.
- To drive the transformation:
- We launched AI workshops and introduced a specialized elite AI operator program to equip our people with practical, hands-on experience applying AI to real-world business challenges, empowering cross-functional teams to drive innovation in a responsible, sustainable, and purpose-led way.
- We delivered Executive AI Bootcamps to build AI fluency and strategic thinking among senior leaders.
- We implemented AIQ assessments to benchmark and elevate organizational AI maturity.
- As a result of these initiatives, we delivered 1,750+ hours of AI training.
- Established firm-wide responsible AI policies and guidelines enhancing ethical AI deployment aligned with global standards and regulations.
- This initiative aimed to create a structured approach to AI governance, safeguarding responsible AI adoption while fostering innovation.
- Through strategic collaboration with Microsoft, OpenAI, and the Canadian Chamber of Commerce AI Advisory Council, we strengthened AI best practices, reinforcing our commitment to ethical AI and scalable innovation.
- Expanded AI adoption in Assurance, Tax, and Advisory teams, developing sector-focused applications to support work for Private Equity, Manufacturing, Financial Services, and Real Estate & Construction.
Case studies
Smarter data review in SR&ED engagements
- Challenge: Manually reviewing thousands of data lines for Scientific Research and Experimental Development (SR&ED) files was time-intensive and prone to inconsistency.
- Solution: We built and implemented an internal AI tool that automates SR&ED data analysis and identifies relevant lines with increased accuracy.
- Impact: This tool reduced manual tasks per file by 90%, cut review time dramatically, and accelerated onboarding for new staff, improving both internal efficiency and client outcomes.
Accelerated insight delivery for market and client data
- Challenge: Accessing and synthesizing large volumes of market and client data was time-consuming and fragmented.
- Solution: We launched a conversational AI tool designed to quickly surface trends and business intelligence by pulling from structured and unstructured data.
- Impact: This tool equips our professionals with real-time, AI-powered insights, enhancing the precision of our market responses and enabling the delivery of more informed, timely, and tailored solutions.
Update on last year's case study: Microsoft Copilot
- Completed the firm-wide rollout of Microsoft 365 Copilot, building on our early pilot success to drive meaningful transformation across our operations.
- To enhance productivity, streamline workflows, and empower our people to work smarter by integrating AI into everyday tasks.
- 90% active usage, Copilot is now integrated into our daily workflows.
- By streamlining time-consuming tasks, we've reclaimed over 100,000 hours, allowing our people to focus on delivering deeper insights and innovative client solutions.
Spotlight on: Ideation and crowdsourcing platform
Our ideation and crowdsourcing platform has become a core driver of innovation and engagement at BDO Canada. We're seeing the power of collective intelligence in action, unlocking new opportunities, surfacing process improvements, and accelerating technology adoption. This tool empowers our people to play an active role in shaping the future of our firm while helping us address complex challenges with forward-thinking solutions.
Number of ideas submitted:
- 300 ideas submitted since the launch of edison365, an innovation and project management platform Idea implementation success rate:
- 9% of submitted ideas advanced within just over a year
Employee engagement:
- 1 in 5 employees actively engage with our crowdsourcing platform.
Strategic alignment:
- 100% of submitted ideas align with our strategic focus
Governance
Overview
For over a century, we've built our reputation on strong governance and an unwavering commitment to our clients. As trusted advisors, we prioritize integrity, quality, and ethical business practices.
We are dedicated to upholding the highest standards of ethics, ensuring our operations align with legal requirements, regulatory standards, and our strong internal governance framework. We are committed to meeting our professional obligations as auditors and trusted advisors.
The BDO Canada Board is committed to setting high standards of corporate governance based on the following principles:
- We strive to run our business ethically, to create an environment that is inclusive and equitable, and to prioritize the health and well-being of our people.
- Our clients depend on our firm to protect their confidential information, maintain independence, and provide sound professional services.
- Our people give back to our communities, protect our environment, and act in a principled manner while providing opportunities for those less fortunate.
- We provide clear insights into our path forward with regular progress reports.
Components of governance
The key components which demonstrate our dedication to robust corporate governance are:
- Our governance structure
- Ethical behaviour, legal, and regulatory compliance
- Risk and opportunity oversight
- Data protection
BDO Canada's governance structure
As of Dec. 31, 2024, BDO Canada's Board consisted of 10 members, which included:
- Nine partners elected by the partners.
- One independent member appointed by the Board.
The Board is governed by the terms of the BDO Canada LLP Partnership Agreement and its relevant policies. The Board has strategically established specialized committees to enhance its performance and assist in the execution of its oversight responsibilities. The firm's Chief Legal Officer acts as Board Secretary and attends all Board and committee meetings as a non-voting member.
Our CEO, Bruno Suppa, is accountable to the Board. In his capacity as CEO, he leads an Executive Leadership Team (ELT) consisting of the Chief Operating Officer (COO) and managing partners who lead the firm across Canada.
The Chief Risk Officer, Chief Legal Officer, and Head of Quality and Professional Standards for Assurance have reporting lines to the CEO.
BDO Canada Board: 2024 reporting period
Anthony Marinelli is the Chair of the Board and a BDO Canada partner. To support our commitment to enhancing Board effectiveness and good governance, the Board can include up to two independent members with professional experience relevant to BDO.
As of Dec. 31, 2024, the Board's composition was made up of the following service lines and members:
- 60% from Assurance
- 20% from Tax
- 10% from Advisory
- 10% from outside of BDO (independent members)
| Board member | Office | Service line |
|---|---|---|
| Jameson Bouffard, Chair, Financial Oversight Committee | Toronto, Ont. | Assurance |
| Janet Boyle, Chair, Governance & Risk Committee | Toronto, Ont. | Independent Board Member |
| Kelly Hagen, Board Member | Oakville, Ont. | Advisory |
| Greg London, Board Member | St. John's, N.L. | Tax |
| Daryl Maduke, Chair, Talent & Culture Committee | Vancouver, B.C. | Tax |
| Anthony Marinelli, Board Chair | Montreal, Que. | Assurance |
| Bob McMahon, Board Member | Oakville, Ont. | Assurance |
| Dan Nagle, Board Member | Kitchener-Waterloo, Ont. | Assurance |
| David Veld, Chair, Strategy & Execution Committee | Oakville, Ont. | Assurance |
| Lorraine Walker, Board Member | Calgary, Alta. | Assurance |
For Board responsibilities, please see Appendix F.
Board skills matrix
Every year, the Board evaluates the evolving skill requirements and desired expertise to enhance its collective capabilities. The table in Appendix G provides further information on the Board’s desired skills and experience, based on the rapidly changing business environment in which we operate.
The key competencies and areas of knowledge that strengthen our Board’s ability to provide effective oversight and strategic guidance to BDO Canada’s management team are outlined in this table.
Key competencies and areas of knowledge
Risk management and assessment
Technology
Data analytics
Digital
AI
Cybersecurity
Organizational management
Talent strategy
Human resources
Executive performance review
Business leadership
Corporate and strategic planning
Strategic thought
Board governance
Regulatory environments
ESG
Legal
Indigenous cultural knowledge
Client engagement
Crisis management
Mergers and acquisitions
Accounting and financial knowledge
Board committees
To support the Board in its mandate, it has constituted four sub-committees aimed at addressing critical organizational functions:
- Financial Oversight Committee
- Governance & Risk Committee
- Talent & Culture Committee
- Strategy & Execution Committee
For further information on the purpose and composition of these committees, please refer to Appendix H.
Executive Leadership Team
(As of Dec. 31, 2024)
Bruno Suppa, Chief Executive Officer
David Simkins, Chief Operating Officer
Service line leaders
Jeanny Gu, Managing Partner, Assurance
Robert Lawrence, Managing Partner, Business Services & Outsourcing
Rachel Gervais, Managing Partner, Tax
Jeff Chapman, Managing Partner, Advisory
Strategic accelerators
Mike Abbott, Managing Partner, Markets & Industry
Kerri Plexman, Managing Partner, Talent & Culture
Sonia Edmonds, Managing Partner, Innovation & Change
Ethical behaviour, legal, and regulatory compliance
Our market success is driven by our firm's commitment to excellence and the trust we have built. We focus on fostering a culture of integrity and compliance and we continuously strive to encourage ethical conduct through comprehensive training and adherence to relevant laws, regulations, and internal guidelines.
All BDO personnel are expected to uphold the highest levels of honesty, integrity, ethics, transparency, and professionalism. Our people are required to adhere to all relevant laws, regulations, and professional requirements in the performance of their roles and responsibilities
How we uphold legal and ethical standards
Our Code of Conduct outlines the ethical expectations of our people and the ways we comply with laws, rules, and regulations, including:
- We manage compliance with regulatory requirements with integrity and in a process-driven manner.
- We protect the confidential and personal data of our clients from unauthorized access, disclosure, and use.
- We maintain a zero-tolerance policy towards any form of bribery, corruption, or other unethical practices in our business relationships.
- We are committed to fighting financial crime, corruption, money laundering, drug trading, and human trafficking.
- We adhere to the sanctions imposed by the Canadian government.
- We are committed to fair business practices and competition in all our services.
- We respect our regulators and are committed to work with them to fulfill our role in the public markets.
- Compliance with our Code of Conduct is a condition of partnership and employment within our firm.
To ensure our suppliers share our commitment to ethical and appropriate conduct, we have developed a Supplier Code of Conduct. This Supplier Code of Conduct, which will be rolled out in the future, outlines the standards we will expect from our suppliers. It aligns with our core values and reinforces our dedication to our clients and communities.
Independence
Independence requirements applicable to professional services firms are set out in applicable laws and regulations, and professional standards. Independence of our firm, our partners, and our employees is critical to our business and is upheld through comprehensive independence policies, systems, and procedures.
These policies and processes are based on applicable independence standards including:
- the CPA Code of Professional Conduct of the applicable province or territory;
- the Quebec CPA Order's Code of Ethics;
- the Code of Ethics for Professional Accountants (including International Independence Standards) of the International Ethics Standards Board for Accountants (IESBA); and
- as applicable, the independence rules and standards issued and administered by the Securities Exchange Commission and the Public Company Accounting Oversight Board.
Independence is maintained by providing only permissible services to our clients and ensuring appropriate business, employment, and personal relationships.
All partners, employees, and personnel of the firm are required to maintain independence in both fact and appearance. Our people are required to confirm this through an annual independence and ethics confirmation. Independence is assessed at our firm level, but also between international BDO member firms.
As part of our processes, we assess independence through our client and engagement acceptance procedures and consider it throughout the delivery of our services. As part of our commitment to independence, partners and firm personnel receive training on independence requirements.
Compliance
Our ethics and independence-first culture are maintained through compliance with internal policies and procedures. These include:
- mandatory annual Independence and Ethics Confirmation for all personnel;
- client and engagement acceptance procedures;
- independence consultations on delivery of services; and
- comprehensive employee training regarding ethics and independence, including:
- in-person and e-learning training on relevant independence standards and policies, including IESBA, the CPA Code, and the Public Company Accounting Oversight Board (PCAOB), including changes to those requirements;
- sanctions;
- conflicts of interest;
- client and engagement acceptance procedures;
- code of conduct requirements for all partners and employees; and
- privacy and confidentiality.
Risk and opportunity oversight
Our approach to managing and identifying risk
Effective risk management underpins our governance strategy, safeguarding our firm's resilience and success.
Our Enterprise Risk Management (ERM) program enables us to identify and evaluate risks that may affect our ability to meet our strategic goals. The program also places emphasis on addressing key risks, anticipating emerging challenges, and implementing effective mitigation strategies.
The ERM program, based on the Committee of Sponsoring Organizations (COSO) framework, is executed by the Chief Risk Officer, Risk Owners, and the ELT, and has Board oversight.
ERM program objectives
Our objectives for ERM include:
- providing a structured basis for strategic planning and decision-making;
- assisting the firm in achieving its strategic objectives;
- enhancing the firm's governance and corporate management processes;
- encouraging decision-makers to identify sound business opportunities that will benefit the firm without exposing it to unacceptable levels of risk; and
- providing a practical, useable framework for partners and staff to identify and assess risks inherent in the decisions they take.
Risk identification and assessment
Risks and opportunities may be identified by:
- assessing our strategy against current and emerging market conditions;
- assessing and monitoring legislative or regulatory changes and their effect on our firm or individual service lines;
- assessing emerging market trends and geopolitical conditions affecting professional services and our clients;
- consultation with global and firm leadership on trends; and
- consultation with professional services and audit regulators.
Once identified, organizational risks and opportunities are assessed by evaluating their probability and potential impact, followed by an analysis of how effectively current controls address them.
The risks and opportunities listed below are those that, effective December 2024, are considered to have a key impact on our ability to achieve our strategic priorities, should they materialize.
Strategic risks and opportunities
Firm strategy
IT strategy
Operational risks and opportunities
Data confidentiality and security
Cybersecurity
IT infrastructure
Market developments and economic uncertainty
Talent resources
Engagement processes
Operational resilience
Regulatory risks and opportunities
Domestic and member firm regulatory compliance
Risk monitoring
The ever-changing risk landscape drives the need to evolve and adapt. As a result, we monitor and review our ERM risk identification and assessments bi-annually.
Communication of risk to the Board and ELT
Ultimate responsibility for the review of the ERM program resides with the Board through the Governance & Risk Committee as a sub-committee of the Board.
Regular reporting by the Risk Management team on the ERM program enables the Board to monitor the identified key risks and associated controls.
Risk policies and procedures
In addition to our ERM program, we have targeted risk policies, training programs, and established operational procedures. These processes ensure the delivery of quality services while upholding compliance with professional standards.
Specific risk processes are outlined in our Risk Management Manual, which is made available to all firm personnel. Key detailed processes include:
- Quality assurance reviews
- Conflict of interest assessments
- Independence procedures and assessments
- Client and engagement acceptance
- Risk rating assessments
- Mandatory risk training
- Compliance with sanctions regulations
- Compliance with anti-money laundering regulations
International standard on quality management
Canadian and international regulators require professional services firms to monitor and enhance their system of quality management.
In December 2020, the Auditing and Assurance Standards Board (AASB) issued the International Standard on Quality Management 1 (ISQM1). It was adopted for application in Canada as the Canadian Standard for Quality Management 1 (CSQM1). Both ISQM1 and CSQM1 require that firms design and implement compliant systems of quality management, and test those systems for operating effectiveness.
The firm has and will continue to comply with CSQM1 to ensure that the objectives of our system of quality management are achieved.
Whistleblower policy
Our robust whistleblower policy ensures our people can confidentially and/or anonymously report any complaints if they have reasonable grounds to suspect that other BDO personnel have engaged in dishonest, unethical, or illegal conduct in relation to the firm. It outlines the ways complaints can be reported, either directly to the firm or anonymously by submitting a report using the anonymous reporting tool maintained by a third-party service provider, ClearView Connects.
ClearView Connects is an independent company that specializes in hosting whistleblower reporting systems for organizations in Canada. A link to the ClearView Connects platform is published internally on our intranet and externally on our website.
All BDO personnel are required to read and comply with this policy, as well as take mandatory training on the whistleblower policy and process.
Anti-corruption commitment
We are committed to ethical behaviour in the provision of all services and to the elimination of corruption in all forms. Anti-corruption requirements that apply to the firm are reflected in Canadian legislation, regulations, and professional standards, as well as in international legislation where our services cross jurisdictions. One of the ways we proactively deter corruption is by maintaining an express prohibition on certain expenses and imposing a policy regarding gifts and hospitality.
We are also aligned with BDO Global's policy on anti-bribery and anti-corruption, which sets out clear principles and standards for all network firms. As part of our ongoing efforts to foster a culture of integrity and transparency, we are rolling out our own anti-bribery and anti-corruption policy, along with comprehensive training for all our people in 2025.
Data protection
Privacy policy
Protecting personal data is fundamental to everything we do at BDO Canada. We take appropriate technical and organizational measures designed to achieve privacy goals, including:
- collecting, using, and disclosing personal information in accordance with our Privacy Statement, policies, and governing legislation;
- protecting against the misuse and accidental loss or disclosure, and from unauthorized or unlawful processing, destruction, or alteration of personal data;
- promptly responding to requests for access, rectification, erasure, and complaints; and
- complying with applicable laws and our Privacy Incident Response Protocol in the event of a personal data breach.
To ensure the confidentiality and the protection of our clients' and people's data, we have implemented comprehensive policies and procedures, including:
- regular mandatory firm-wide privacy awareness training to educate personnel on our personal information-handling policies;
- the Employee Personal Information Protection Policy, which outlines our handling of employees' personal information;
- the Privacy Code of Conduct, which outlines the personal data-handling principles we expect our people to follow;
- the Privacy Incident Response Protocol, which outlines the steps our people are expected to take and how to contact the Privacy Office if they suspect personal data may have been subject to unauthorized disclosure or access, loss, misuse, or alteration;
- an Information Security Incident Response Plan, which outlines the steps to be taken in the event of an information security incident;
- the Search Warrant, Subpoena, Production Order, and Law Enforcement Access Policy, which outlines the process for handling requests to access data in our possession or control by legal authorities; and
- the Service Provider Technology, Security, and Privacy Governance Process to assess the technical and organization methods employed by any service provider that will have access to confidential or personal information in our possession or control.
Information security statement
We are committed to safeguarding the confidentiality, integrity, and accessibility of the data obtained in the course of providing professional services.
Information security is fully embedded into our organizational culture and operations. This is reflected in all solutions and services, making our firm one of the information security leaders within the global BDO network.
As a data custodian and trusted service provider for our clients, our firm has implemented an Information Security Management System (ISMS) with processes and policies certified to ISO 27001: 2022, an internationally recognized standard for information security. We are compliant with Canadian cybersecurity principles, including, but not limited to, the Personal Information Protection and Electronic Documents Act (PIPEDA) and Canadian Anti-Spam Legislation (CASL).
Our Cybersecurity team uses a risk-based, continuous evaluation process to expand and mature our security program to:
- design and maintain highly available and secured systems;
- prevent unauthorized exposure of personally identifiable information (PII) and confidential data;
- hold our technology partners to the same security standards;
- react quickly and efficiently to incidents and the changing cyber threat landscape;
- train our users to be information security incident preventers; and
- provide clear security assurances to our clients and their clients.
Protecting client data
Adhering to our clients' data protection requirements is key to our business. Our ISMS prioritizes client data, making it a core focus that is deeply integrated into our operations.
As part of our robust Contract Security program with the Government of Canada, two BDO Canada offices successfully re-registered with the program. Our Winnipeg office registered in 2023 and our Ottawa office, in 2024 (each term is valid for three years). We had one Company Security Officer (CSO) and five Alternate CSOs for the BDO offices that were part of the Contract Security Program. The CSO is responsible for protecting sensitive government information and assets entrusted to them and developing the essential practices that build a culture of security so that information and assets are not compromised. We also maintained high-security programs and working areas in our offices.
Aligning governance with evolving challenges
We regularly assess the evolving business, economic, and regulatory landscapes to identify how emerging risks may influence our operations. This proactive approach enables us to maintain a strong governance framework that ensures we can fulfill the commitments detailed in this report.