Our contribution to the public debate
The continuing aftershocks of the global financial crisis highlight the importance of public confidence in the capital markets. We are acutely aware of our important role in promoting transparency and supporting investor confidence and economic growth. This is one way in which we are working to build a better working world.
Clients, regulators and our stakeholders count on us to deliver quality and excellence in everything we do. Regular dialogue with our stakeholders is a priority for us and what we hear helps inform our views and actions.
Below you will find our viewpoints on some of the most topical issues relating to auditing, financial reporting and the capital markets.
Our latest commentary
Many audit committees are providing enhanced disclosures about their work, whether in response to investor interest, good practice or changes in regulation. We reviewed and compared audit committee disclosures focused on their audit oversight role in five jurisdictions, and identified interesting trends.
Since the OECD Corporate Governance Principles were first adopted in 1999, they have served as the benchmark for governance frameworks globally. It is important that the revised Principles take account of new corporate governance developments. From our perspective, among the most significant improvements are the widespread acceptance and adoption of independent audit committees and independent audit regulators.
Auditors have traditionally provided a binary “pass/fail” opinion on a company’s financial statements. While still valuable, many believe it is no longer enough. We compare proposals from several regulators and standard setters that would require auditors to say more.