Ernst & Young LLP Transparency Report
UK Transparency Report 2011
Our 2011 Transparency Report has been prepared in accordance with the provisions of the Statutory Auditors (Transparency) Instrument 2008 ("the Instrument") made by the Professional Oversight Board (POB) of the Financial Reporting Council (FRC).
The Instrument enacts into UK legislation the requirement in the European Union's 8th Company Law Directive requiring all auditors of EU public interest entities to publish an annual transparency report disclosing certain information about their audit business. In addition to the requirements of the Instrument, we have also sought to address all of the drivers of audit quality contained in the FRC's Audit Quality Framework, the relevant disclosure requirements of the Audit Firm Governance Code and feedback and guidance issued by the POB as part of their review of the transparency reports published by the accounting firms.
We welcome the opportunity to be transparent. The audits of public companies are vital to the strength and stability of the global capital markets. As such, our stakeholders have the right to feel confident that we can deliver consistent, reliable, timely and quality audits. We firmly believe that transparency makes an important positive contribution to stakeholder confidence by increasing awareness of how we do it.
We encourage investors, audit committee members, companies, regulators and all our stakeholders to speak to us about matters covered in this Report. If you have any questions or would like to discuss any aspect of it, please contact us.
Download our UK Transparency Report 2011 4.9Mb, October 2011
Ernst & Young LLP UK Transparency Reports
UK Transparency Report 2010 846K, October 2010
UK Transparency Report 2009 2.3Mb, September 2009
UK Transparency Report 2008 (prepared on a voluntary basis)
