audit quality framework


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0000116386 00000 n 0000063077 00000 n 0000408029 00000 n #K{&wdz3[K;!UIF-|&:m%':K-W={|.EhPU]b8b5M_D[ kYyEI 0000047318 00000 n 0000357415 00000 n 0000354513 00000 n 0000423551 00000 n 0000052757 00000 n Technical consultation and global resources. 0000161419 00000 n 0000122021 00000 n 0000057638 00000 n KPMG member firms provide audit committee and board members with practical insights, resources and peer-exchange opportunities focused on strengthening oversight of financial reporting and audit ACI's offerings cover the array of challenges facing boards and businesses today from risk management and emerging technologies to strategy and global compliance. 0000348656 00000 n Click to know further details and insights on the ACI. To promote consistency of interpretation of IFRS and ISAs between member firms, Topic Teams with geographic representation from around the world identify emerging issues and develop global guidance on a timely basis. 0000417651 00000 n 0000077304 00000 n 0000181117 00000 n 0000048935 00000 n

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0000378518 00000 n 0000068026 00000 n 0000148706 00000 n KPMG's Global IFRS Institute provides information and resources to help board and audit committee members, executives, management, stakeholders and government representatives gain insight and access thought leadership about the evolving global financial reporting framework. 0000071676 00000 n

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endobj 0000074176 00000 n 0000073876 00000 n 0000157054 00000 n 0000113273 00000 n 0000162301 00000 n 0000067388 00000 n 0000135376 00000 n 0000048102 00000 n 0000076666 00000 n 0000060284 00000 n 0000138419 00000 n Senior partners of Global Board member firms are now held accountable to the Global Chairman and the GAQC for achieving the audit quality expectations of our stakeholders. 0000379339 00000 n 0000061656 00000 n 0000285225 00000 n 0000151407 00000 n 0000076916 00000 n 0000051924 00000 n 0000361740 00000 n 0000154370 00000 n 0000056237 00000 n 0000071076 00000 n 0000180548 00000 n 0000060137 00000 n 0000329473 00000 n 0000069126 00000 n <> 0000050307 00000 n 0000051042 00000 n 0000425586 00000 n 0000063322 00000 n 0000389910 00000 n 0000180266 00000 n 0000418164 00000 n 0000362601 00000 n 0000126524 00000 n 0000424314 00000 n Both of these are relevant to member firms that perform statutory audits and other assurance and related services engagements. 0000076177 00000 n 0000047367 00000 n 0000056090 00000 n 0000373830 00000 n 0000388674 00000 n 0000118648 00000 n 0000047759 00000 n 0000173729 00000 n 0000068076 00000 n 0000377096 00000 n 0000157845 00000 n 0000160557 00000 n Honest and candid communication with clients, including management and audit committees, is a key aspect of our reporting and quality service delivery. 0000072026 00000 n 0000060039 00000 n 0000139503 00000 n

0000128735 00000 n 0000066114 00000 n 0000064840 00000 n 0000047269 00000 n 0000072326 00000 n 0000060725 00000 n <> 0000072376 00000 n 0000285900 00000 n 0000171696 00000 n 0000100961 00000 n 0000158111 00000 n 0000339470 00000 n Provides feedback to international standard setters on proposed changes to standards and consultations. 0000385754 00000 n 0000052708 00000 n 0000146542 00000 n 0000418422 00000 n 0000385536 00000 n 0000379924 00000 n 0000137018 00000 n 0000127636 00000 n 0000286182 00000 n 0000355096 00000 n 0000048592 00000 n 0000377743 00000 n 0000050111 00000 n For more detail about our structure please visit https://home.kpmg/governance. 0000384524 00000 n 0000071526 00000 n Good practice management at a member firm level also plays a significant part in terms of real-time support for engagement teams, and strong support functions to help them carry out their tasks. 0000070226 00000 n 0000060578 00000 n 0000331327 00000 n 0000364324 00000 n 0000054325 00000 n 0000061607 00000 n 0000373016 00000 n 0000181970 00000 n 0000065477 00000 n 0000070576 00000 n 0000055453 00000 n 0000369450 00000 n 0000060333 00000 n The role of audit committees is key in supporting better quality auditing by managing the relationship between company and auditor and challenging what auditors do and how they do it. 0000147078 00000 n 0000327294 00000 n 0000373287 00000 n 0000065379 00000 n 0000163191 00000 n 0000350713 00000 n 0000071776 00000 n 0000424569 00000 n 0000375199 00000 n 0000046436 00000 n 0000057246 00000 n 0000045554 00000 n 0000169364 00000 n 0000062979 00000 n 0000346003 00000 n 0000171402 00000 n 0000046681 00000 n 0000066065 00000 n 0000068976 00000 n 0000072476 00000 n 0000069776 00000 n 0000076966 00000 n

Y$5ERj5h) 0000073626 00000 n Dkkl/wZ54y8vlTFj]eiDjVij/uM*:r@SLb ZbyE:HUbPelhLGY';?rKrCiOIzZH) 0000074376 00000 n 0000141117 00000 n We are investing more in growing our audit quality monitoring group that monitors both live and completed engagements independent of the firms, inspecting engagements and looking at the strength of their system of quality control. 0000062048 00000 n 0000070776 00000 n 0000144106 00000 n 0000050503 00000 n <> 0000179136 00000 n 0000351300 00000 n 0000070426 00000 n 0000336477 00000 n 0000066702 00000 n 0000422779 00000 n Get the latest KPMG thought leadership directly to your individual personalized dashboard. 0000328534 00000 n 0000073576 00000 n Find out how KPMG's expertise can help you and your company. 0000143836 00000 n 0000057344 00000 n 0000169655 00000 n 0000391552 00000 n We also do not tolerate bribery by third parties, including by member firm clients, suppliers or public officials. 0000412469 00000 n 0000153575 00000 n So when we talk about how we are striving to maintain and improve quality, as we do throughout this report, it is not some abstract aspiration. 0000122579 00000 n 0000397114 00000 n 0000075677 00000 n 0000060676 00000 n 0000046240 00000 n startxref 0000062636 00000 n 0000086773 00000 n 0000054423 00000 n 0000392630 00000 n 0000055306 00000 n 0000073976 00000 n 0000059892 00000 n 0000366606 00000 n $.' 0000132042 00000 n 0000062440 00000 n 0000069676 00000 n 0000121183 00000 n 0000048886 00000 n 0000147377 00000 n 0000081743 00000 n With three international locations, one in each region (Americas, EMA and ASPAC), the GSC Audit team is made up of professionals with backgrounds in audit, IT, data science, mathematics, statistics and more, from around the world, who bring diverse experiences and innovative ways of thinking to further evolve KPMG's audit capabilities. 0000384315 00000 n 0000069526 00000 n 0000116970 00000 n 0000112720 00000 n

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0000067633 00000 n These policies and associated procedures are designed to assist member firms in complying with relevant professional standards, regulatory and legal requirements, and in issuing reports that are appropriate to the circumstances. 0000409606 00000 n No member firm has any authority to obligate or bind KPMG International or any other member firm vis--vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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0000372742 00000 n These are included in KPMG's Global Quality & Risk Management Manual (GQ&RM Manual) available to all KPMG partners and staff. 0000125669 00000 n 0000416100 00000 n 0000113553 00000 n 0000076227 00000 n 0000360019 00000 n Member firms and KPMG professionals achieve this through a combination of reports and presentations, attendance at audit committee or board meetings, and, when appropriate, ongoing discussions with management and members of the audit committee. Develops guidance on interpretation and application of international standards and, where appropriate, in response to quality issues emerging from review, to drive consistency across the network. 0000146811 00000 n 0000055845 00000 n 0000075176 00000 n 0000054619 00000 n 0000175454 00000 n 0000065575 00000 n 0000075477 00000 n 0000354224 00000 n 0000422011 00000 n 0000334368 00000 n

0000074026 00000 n 0000387635 00000 n stream 0000078647 00000 n 0000415582 00000 n 0000056678 00000 n 0000165556 00000 n I am delighted to have taken on the responsibility of establishing a Global Audit Quality Committee (GACQ) which I chair, which has taken responsibility for monitoring and driving improvements to audit quality across our international firm. 0000284260 00000 n 0000415063 00000 n 0000393690 00000 n 0000160016 00000 n 0000061901 00000 n 0000433679 00000 n 0000406172 00000 n As auditors we recognize our work is pivotal to addressing the key global challenge of our time: restoring public trust in institutions. 0000176316 00000 n 0000066849 00000 n

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0000154633 00000 n 0000072126 00000 n 0000050209 00000 n 0000140045 00000 n 0000338574 00000 n 0000068626 00000 n 0000158644 00000 n 0000045701 00000 n 0000057148 00000 n 0000066163 00000 n 0000395342 00000 n 0000113857 00000 n 0000170531 00000 n 0000065918 00000 n 0000067535 00000 n 0000115826 00000 n 0000059843 00000 n 0000072776 00000 n 0000066996 00000 n 0000133167 00000 n 0000402995 00000 n KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. Alison Kitchen Chairman of the Global Audit Quality Committee of the Board KPMG Australia, "The leadership of senior partners and the accountability of audit leaders is fundamental to driving audit quality. 0000131221 00000 n 0000061264 00000 n 0000066212 00000 n 0000151941 00000 n At KPMG, audit quality is about consistent execution throughout the network in line with the requirements and intent of professional standards, and within a strong system of quality controls. 0000049033 00000 n 0000353064 00000 n 0000076866 00000 n 0000049866 00000 n 0000348949 00000 n 0000177998 00000 n 0000116664 00000 n 0000175166 00000 n 0000356544 00000 n 0000059108 00000 n 0000230108 00000 n 0000045848 00000 n 0000053296 00000 n 0000071026 00000 n 0000180833 00000 n 0000067437 00000 n 0000171988 00000 n 0000382655 00000 n 0000047465 00000 n 0000391767 00000 n A robust and consistent system of quality control is essential to performing high-quality services. 0000408818 00000 n 0000396847 00000 n 0000062832 00000 n 0000050944 00000 n

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0000076716 00000 n 0000335878 00000 n JFIF Exif MM * Ducky P 7http://ns.adobe.com/xap/1.0/ 0000048690 00000 n 0000049425 00000 n 0000057589 00000 n Being a good auditor means having an inquiring mind and the emotional intelligence to understand different people so they engage constructively with you. 0000064154 00000 n 0000058226 00000 n 0000131764 00000 n 0000067780 00000 n 0000356255 00000 n 0000064399 00000 n 0000381855 00000 n 0000154103 00000 n 0000357125 00000 n 0000073176 00000 n The challenge of aligning our best human qualities with sophisticated digital tools is one we should relish. 0000119483 00000 n 0000056433 00000 n We are seeing a new level of interest from stakeholders in audit quality, and we welcome that interest. 0000072826 00000 n 0000075627 00000 n 0000412990 00000 n 0000347184 00000 n 0000049131 00000 n 0000073726 00000 n 0000124833 00000 n 0000340968 00000 n 0000047024 00000 n 0000061999 00000 n 0000283979 00000 n 0000036112 00000 n 0000057393 00000 n 0000058618 00000 n 0000351006 00000 n 0000026636 00000 n 0000053443 00000 n 0000387835 00000 n 0000064350 00000 n 0000057491 00000 n 0000162596 00000 n 0000144943 00000 n 0000072976 00000 n 0000384927 00000 n 0000154895 00000 n 0000416877 00000 n 0000399790 00000 n 0000070726 00000 n 0000052806 00000 n 0000337376 00000 n These include the creation of the GAQC of the Global Board, comprising senior partners from the largest firms, and the appointment of a dedicated Global Head of Audit Quality who reports to the committee. 0000063175 00000 n

IFRS Institute. 0000071426 00000 n In addition, the GQ&RM Manual includes mandatory consultation requirements on certain matters such as client integrity. 0000129854 00000 n 0000382049 00000 n 0000061509 00000 n 0000381300 00000 n 0000066457 00000 n 0000114980 00000 n 0000064742 00000 n 0000392185 00000 n 0000062391 00000 n stream 0000066800 00000 n 0000035805 00000 n 0000128185 00000 n 0000343936 00000 n 0000409080 00000 n 0000358866 00000 n 0000058373 00000 n 0000411952 00000 n <]/Prev 1060201>> 0000343348 00000 n 0000164375 00000 n 0000390301 00000 n

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0000066898 00000 n 0000409342 00000 n 0000143028 00000 n 0000400327 00000 n 0000344530 00000 n 0000166738 00000 n 0000051679 00000 n 0000062881 00000 n %PDF-1.5 KPMG policy prohibits involvement in any type of bribery even if such conduct is legal or permitted under applicable law or local practice. 0000178566 00000 n 0000076077 00000 n 0000069176 00000 n 0000437701 00000 n 0000047857 00000 n KPMG International entities provide no services to clients. 0000362887 00000 n 0000071376 00000 n 0000181403 00000 n 0000046730 00000 n 1855 0 obj <>stream 0000164078 00000 n X+"(_Gy[f6F p-5-|!kF\Z. 0000379545 00000 n %8Y?Cs&8A +m\ ["QKfDU_WP59Ce8_i>D,!e"5%IxQ:,|j/>2 % :JS|y The ACI operates in over 40 countries around the globe and provides audit committee members with authoritative guidance on matters of interest to audit committees as well as the opportunity to network with their peers during an extensive program of technical updates and awareness seminars. 0000160283 00000 n 0000054227 00000 n 0000073426 00000 n 0000440288 00000 n 0000074876 00000 n 0000151672 00000 n 0000062293 00000 n 0000055404 00000 n KPMG International requires member firms to have appropriate internal controls in place to mitigate the risk of involvement in bribery by the member firm and its partners and staff. 0000153834 00000 n 0000372466 00000 n 0000370016 00000 n 0000069026 00000 n 0000075076 00000 n 0000067584 00000 n 0000387205 00000 n 0000179701 00000 n 0000408291 00000 n 0000061313 00000 n

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0000124553 00000 n 0000052218 00000 n Everyone is accountable for audit quality: from audit teams on the ground, to individual engagement partners, and through to the most senior ranks of KPMG member firms. 0000161122 00000 n 0000340668 00000 n 0000070076 00000 n 0000064938 00000 n 0000055208 00000 n 0000416621 00000 n 0000070276 00000 n 0000421241 00000 n 0000389089 00000 n 0000070676 00000 n 0000147644 00000 n 0000170820 00000 n 0000389492 00000 n 0000052071 00000 n 0000118085 00000 n 0000054865 00000 n 0000060480 00000 n 0000051581 00000 n The more we standardize the way we conduct our audits, and the more global consistency we build into our processes and technology, the more effective we'll be at meeting the high standards we've set for audit quality. 0000405376 00000 n 0000048151 00000 n 0000052561 00000 n 0000055012 00000 n 0000140314 00000 n 0000417133 00000 n 0000053198 00000 n 0000160832 00000 n 0000407763 00000 n 0000051777 00000 n

Member firms provide consultation support on auditing and technical accounting matters to their audit professionals through professional practice resources (referred to as Department of Professional Practice or DPP). 0000067731 00000 n 0000398723 00000 n 0000400594 00000 n 0000051630 00000 n

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0000072626 00000 n 0000068526 00000 n Technical auditing and accounting support is available to member firms through the Global Service Centre (GSC) and the International Standards Group (ISG) as well as the US Capital Markets Group for Securities and Exchange Commission (SEC) foreign registrants. 0000053639 00000 n

0000049327 00000 n 0000062097 00000 n 0000381103 00000 n 0000035913 00000 n 0000046338 00000 n 0000075977 00000 n 0000061362 00000 n 0000058863 00000 n 0000046191 00000 n 0000148972 00000 n 0000412212 00000 n 0000135649 00000 n 0000371376 00000 n 0000058569 00000 n It provides the framework for success. 0000051826 00000 n 0000065183 00000 n 0000333151 00000 n 0000150045 00000 n KPMG has always been, at heart, an audit organization, and continuously improving audit quality is central to who we are. 0000142759 00000 n 0000056384 00000 n 0000064791 00000 n 0000335575 00000 n 0000124276 00000 n 0000401662 00000 n 0000146272 00000 n 0000045799 00000 n 0000047955 00000 n 0000081479 00000 n 0000389704 00000 n 0000127358 00000 n 0000159205 00000 n 0000046485 00000 n 0000070526 00000 n 0000119762 00000 n 0000182253 00000 n 0000076027 00000 n 0000050601 00000 n 0000395699 00000 n 0000071226 00000 n 0000065085 00000 n 0000398187 00000 n

0000381667 00000 n 0000056188 00000 n 0000230391 00000 n DPP also assists engagement teams where there are differences of opinion either within teams or with the engagement quality control (EQC) reviewer. 0000390104 00000 n 0000046632 00000 n 0000069226 00000 n 0000375746 00000 n 0000056335 00000 n 0000385954 00000 n 0000073076 00000 n 0000137296 00000 n 0000047171 00000 n

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