No Match Found
While the effects of the pandemic have abated, geopolitical developments continue to unsettle the global order. The world has changed fundamentally, and in many ways has become more uncertain. Trust has therefore become more important than ever: without it, business, and society as a whole, would be unable to function.
Helping assure a foundation of trust is fundamental to our firm’s purpose. You could say it is our core business. One of the most important ways of building trust is being transparent; hence this, our latest Transparency Report.
Once again, our Transparency Report for 2023 documents our efforts to maintain the quality of our audit work – arguably the most important contribution we make to building trust. You will find information on our policies, systems and processes for ensuring quality, the outcomes of key quality monitoring programmes and reviews, and our endeavours to encourage a culture of quality at every level. You will also find details of the companies we audited and the total revenue generated by our audit and non-audit work.
In last year’s report we expressed the fact that we welcome the public debate that arises from transparency on audit quality. I would like to reiterate this commitment. We continue to put PwC’s audit inspection results on the public record as well as disclose how we are performing against other key measures of quality, including our internal inspection findings. Again, this year’s report presents a selection of such results.
By stepping up transparency we are also challenging ourselves, in effect raising the benchmark in terms of the quality we and our stakeholders expect us to deliver. Ultimately, we want to ensure that our regulator considers that we have obtained reasonable assurance in all audit areas. We continue to drive a quality improvement plan aimed at achieving precisely this goal.
Continuing the discussion on audit quality
Our investment in continuously improving audit quality continues to reflect the fundamental strategic importance of our audit business. In addition to state-of-the-art systems and technology, our investment focuses on risk processes, real-time assurance on engagements, a healthy consultation and speak-up culture, and learning and development opportunities for our people. We are committed to leading by example – in terms of both the quality of our audit work and our transparency in reporting on it – and our investment mirrors this commitment.
Quality & Regulatory Partner, PwC Switzerland
Tel: +41 58 792 26 02