EY PUBLISHES 2019 TRANSPARENCY REPORT
On Wednesday, 19 February 2020, EY published the 2019 Transparency Report.
Since 2017, EY has produced a Transparency Report for the South African market. This report continues to evolve and provides a view into the organisation’s culture, policies and processes that support their stated purpose of building a better working world.
Recent high-profile corporate failures have weakened public trust and confidence in both the auditing profession and business at large. In most recent media interviews, CEO Ajen Sita has given voice to the need to focus on quality, independence and transformation in the industry.
“As a firm we have committed ourselves to a purpose of ‘building a better working world’. There can be no nobler goal right now. We arguably live in a time of widespread distrust between companies and their stakeholders. The audit profession globally is under the spotlight, but in South Africa there is a real need for positive reform within the auditing profession and the economy as a whole. Quality audits are a powerful tool to restore and build stakeholder trust in businesses,” says Sita.
EY is clear about the crucial role its work plays in helping to maintain and improve the attractiveness of South Africa as an investment destination.
Stephen Ntsoane, South Africa Assurance Leader at EY says, “Auditors play a vital role in the functioning of capital markets by promoting transparency and supporting investor confidence. Our reputation is based on, and grounded in, providing high quality professional audit services objectively and ethically to every entity we audit. In the rapidly changing business landscape in which we find ourselves, what has not changed is our commitment to creating a culture where everyone at EY understands that audit quality is our single most important priority.”
The 2019 Transparency Report provides a wholistic view of the South Africa organisation, in addition to the audit business. Read it online at www.ey.com/en_za or download it here.
Notes to Editors
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization and may refer to one or more of the member firms of EY Global Limited, each of which is a separate legal entity. EY Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.