Global audit quality report
Explore the six pillars of the EY Sustainable Audit Quality program, examining progress on key initiatives across structures, systems and skillsets.
Why quality starts at the top of the organization
A commitment to audit quality starts at the top of the organization. EY leaders set a clear tone from the top by establishing and maintaining a culture based on a commitment to quality, an emphasis on values, a global mindset and a focus on teaming to create the right breadth and depth of skills. This is the reason that Tone at the top is the first pillar of the SAQ program and why so much emphasis is placed on consultation, collaboration and communications.
How EY locates and nurtures exceptional talent
The auditor’s role is changing. Companies now rely not only on accounting and technical experience in their auditors, but also on an ability to apply the latest technology and to adapt to changing business models. Competition for talented people with these skills has never been higher, and finding the next cohort of high-quality auditors, and then retaining them, is a top priority. That’s why Exceptional talent is a fundamental pillar of EY’s SAQ program.
How the EY Digital Audit is evolving to meet new challenges
In the past five years, the EY Assurance service line has been undergoing unprecedented transformation. This has occurred in tandem with the changes driven by companies that are increasingly leveraging new technology and data capabilities. Just as these companies are investing in systems to promote connectivity and collaboration, so is the EY organization with the development of the EY Digital Audit. It should come as no surprise then that Audit technology and digital is one of the most important pillars of the SAQ program.
Why simplification and innovation in the audit go hand in hand
In the EY Digital Audit, simplification and innovation go hand in hand, with one leading to the other as more effective ways of working are developed. Bigger and better data are combined with innovative ideas, resulting in simplified processes and an opportunity to examine work through a more purposeful lens. This enables a greater focus on risk and, in return, an increase in audit quality. Hence Simplification and innovation is the fourth SAQ pillar.
How EY supports audit teams to improve audit quality
Across the EY network, there are systems and structures in place to help analyze audit quality and improve working practices, skill sets and resource levels where necessary. To deliver high quality, it is important to support audit teams, who often work in stressful and demanding environments. It is also crucial to monitor audit quality and engage in open discussions when challenges arise, and so Enablement and quality support is the fifth SAQ pillar.
Why every EY auditor is accountable for audit quality
EY has a duty, in serving the public interest, to help its people take responsibility for performing quality work at all times. To achieve and sustain this, the organization has embedded a culture of accountability at all levels of the audit process – a culture of doing the right thing. Partners, senior managers, managers and the rest of their teams are expected to be driven by the EY quality agenda in everything they do. This is why Accountability is the final SAQ pillar.
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