Remediation Task Forces
Achieving Sustainable Audit Quality requires a single-minded commitment to recognizing and addressing where performance needs to improve. This cannot happen unless gaps are uncovered and used to drive learning and improvement.
The organization’s inspection program is continually updated to the highest standards. Once inspections are completed, and root cause analysis has been undertaken, Remediation Task Forces are deployed to address issues that may remain. The task forces comprise teams of operations professionals, personnel from Professional Practice, and Assurance and quality leaders.
Global Audit Quality Committee
The EY Global Audit Quality Committee (GAQC) is an important element of the culture of continuous improvement, comprising senior leaders with extensive, diverse and relevant experience. It advises EY senior leadership on the many aspects of the organization’s business, operations, culture, talent strategy, governance and risk management that affect audit quality.
The GAQC was formed to develop and share innovative and game-changing ideas and approaches to providing high-quality audits. It is the central repository for learning and feedback, and serves as the basis for new audit quality indicators and other forms of quality monitoring that feed into the continuous improvement cycle.
Working with regulators
The role of auditors is to carry out high-quality work in accordance with the guidelines and standards set by independent regulators across the world. These bodies expect auditors to set new standards for quality and accountability.
The EY organization engages in an ongoing dialogue with IFIAR in which integrity and quality are at the top of the agenda. To facilitate this dialogue, the EY IFIAR subcommittee meets monthly, bringing together leading practices and current developments on audit quality from the 10 countries that are members of the IFIAR Global Audit Quality Working Group (Australia, Canada, France, Germany, Japan, the Netherlands, Singapore, Switzerland, the UK and the US) in a constructive and transparent way.