A message from our leadership
We are pleased to present the 2021 audit quality report of Ernst & Young LLP (EY US or the Firm), which reaffirms our commitment to continuously improving the quality of our audits and strengthening our system of quality control. We invite you to read the highlights of the report presented below and to download the full report.
Kelly J. Grier and John L. King
Audit quality: key focus areas
A snapshot of key metrics
Highlights of the report
Our mission will always be to serve the public interest by performing high-quality audits. We continue to innovate and are using the lessons of the pandemic to reimagine how to deliver high-quality audits and serve the public interest in the future.
Learn more about how we set a strong tone at the top, gain insights from our Independent Audit Quality Committee and continue to strengthen our system of quality control.
Our people are critical to our ability to deliver high-quality audits, and we continue to focus on diversity, equity and inclusion and developing transformative leaders who can help us realize our purpose of building a better working world.
Learn more about our new hybrid work model; actions we are taking to fight racism and promote social justice; and what we’re doing to attract, retain and develop our people.
Our ability to analyze trends in full populations of data has transformed how we approach our audits, but our objectivity, professional skepticism and commitment to excellence remain at the core of everything we do.
Learn more about our data-first approach and find additional videos that explain our audit technology.
We provide coaching, guidance and consultations to help our professionals perform high-quality audits.
Learn more about how our Quality Network and Professional Practice group support our teams and enable them to perform high-quality audits.
Monitoring the effectiveness of our actions and performing robust root cause analyses of positive and negative audit performance are key components of our system of quality control.
Learn more about our assessments of in-progress audits and our internal inspections of completed audits.
Inspections by the Public Company Accounting Oversight Board (PCAOB) have led to improvements in audit quality, and we expect the PCAOB to focus on further improvements.
View our latest PCAOB inspection results, which show that our findings continue to decline.