Welcome to the KPMG Ireland Transparency Report for the year ended 31 December 2018.
Welcome to the KPMG in Ireland Transparency Report for the year ended 31 December 2018. We recognise the importance of sharing with our stakeholders what we do to advance quality, to manage risk and to maintain independence. This Transparency Report is one of the ways we share this information.
In this report we seek to provide stakeholders with a description of KPMG’s audit quality initiatives. Together with our global colleagues we are united in our commitment to providing independent assurance on what matters to all stakeholders – our regulators, our clients, our people and the public.
Our vision is one that sees KPMG as the clear choice professional services firm in Ireland. Being the clear choice requires us to be, amongst other things:
Our focus on quality is underpinned by:
We drive a relentless focus on quality and service. Acting with integrity is our core value and we take every opportunity to reinforce it. We recognise that trust is not a given – it must be earned and maintained. A quality audit means the delivery of an appropriate and independent opinion that is properly supported in compliance with the applicable auditing standards, laws and professional requirements. This means being seen to be independent in mind and complying with our legal and professional obligations.
Responsibility for quality starts at the top and means reinforcing accountability through the complete chain of command in all our teams so that every action helps us meet our rigorous quality objectives. We look to approach all matters in an audit with objectivity and professional scepticism to offer relevant, valued insight and impartial views through candid communications. We nurture talent, create high-performing teams and deploy talented staff globally to deliver insights and innovative ideas.
These are fundamental to sustaining quality and to building on our success. We have a number of programmes and initiatives primarily aimed at identifying opportunities for continuous improvement and relevant remedial actions.
Our Public Interest Committee, which is responsible for independently overseeing the public interest aspects of decision making in our firm, assists us in meeting our commitments. We greatly appreciate the external challenge and perspective that the additional oversight provides.
We are hugely conscious of the challenges facing businesses today as a result of significant geopolitical change, enormous technological disruption and increased regulation. In that regard our priority is to support our clients in dealing with the myriad of challenges they face. KPMG faces all of the same business challenges and the specific challenges relevant to our audit business are considered in the message from our Head of Audit. The creation of our new Global Audit Quality Committee is a sign of the Global Board’s commitment to ensuring we have a consistent view, right across the network, of the importance of earning the public’s trust by our actions and behaviours both professionally and personally. In addition, a Global Head of Audit Quality has been appointed to take the lead in monitoring and driving improvements to audit quality across the network.
This Transparency Report focuses significantly on our audit practice and plays a very important role in helping us to communicate to all of our stakeholders the measures that we take to help to ensure that we deliver high quality audits. However, a written report can never replace the additional insight that comes with discussion. Therefore, I would encourage any of our clients, potential clients, audit committee chairs, investors or indeed any other stakeholder group who wishes to discuss any matter set out in this report, to contact us. We would be very happy to discuss our approach and share our views with you.
KPMG Transparency Report 2018 (PDF, 1.0MB)
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