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At EY, our purpose is building a better working world. The insights and services we provide help to create long-term value for clients, people and society, and to build trust in the capital markets.
In our comment letter, we support the objective of the Government Accountability Office (GAO) to strengthen the framework of an audit firm’s system of quality management for government audits, which we believe would help improve quality at both the audit organization and engagement levels. We also support the GAO’s efforts to largely harmonize its quality management standards with those of the International Audit and Assurance Standards Board and the Auditing Standards Board.