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The 2019 KPMG International Transparency Report (PDF 1.0 MB) covers the financial year to 30 September 2019. In our 2019 KPMG Transparency Report, we will share with you how we deliver on our fundamental promise of audit quality to the public interest, investors, audit committees and the stakeholders we serve. 

Bill Thomas

Focused on quality

Bill Thomas, Global Chairman and CEO, KPMG International

The millions of investment decisions made around the world each day are dependent on the sound functioning of the capital markets. At KPMG, we know we have an important responsibility to serve the capital markets by delivering quality audits that contribute to financial reporting integrity so investors have the confidence and trust to make key decisions.  
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Bill O'Mara

Delivering audit quality

Bill O'Mara, Global Head of Audit, KPMG International

Quality essentially means doing the right thing, and it remains our highest priority. Doing the right thing requires a common understanding of what the right thing is. That’s why we have defined what audit quality means to KPMG; having this definition has been powerful to underpin our focus and drive global consistency.
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We define “audit quality” as the outcome when audits are executed consistently, in line with the requirements and intent of applicable professional standards within a strong system of quality controls. All of our related activities are undertaken in an environment of the utmost level of objectivity, independence, ethics and integrity.

Phase two

Driving the quality agenda

This section provides an update on our overall approach to delivering audit quality.

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Phase two

Building on our audit quality foundations

This section provides details on our system of quality control.

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Phase two

Delivering audit quality on the ground

In this section, we set out the ways in which member firms implement global policies and procedures to ensure quality and integrity at a local level.

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Phase two

Innovating and evolving our audit approach

In addition to having the right policies and procedures for quality in place, we are innovating in the delivery of the audit itself and leveraging new technologies and platforms.

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Phase two

Delivering a skilled and supported workforce

In this section we set out how we equip our people to deliver quality audits.

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Phase two

Audit quality monitoring and remediation

We expect all KPMG firms to continually improve the quality, consistency and efficiency of their audits.

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Phase two

Governance and leadership

KPMG is a global network of firms providing Audit, Tax and Advisory services. 

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Appendix

Total turnover achieved by EU/EEA audit firms resulting from the statutory audit of annual and consolidated financial statements

Aggregated revenues generated by KPMG audit firms from EU and EEA Member States resulting from the statutory audit of annual and consolidated financial statements was 2.9 billion euros during the fiscal year ending 30 September 2019. The EU/EEA aggregated statutory audit revenue figures are presented to the best extent currently calculable and translated at the average exchange rate prevailing in the 12 months ended 30 September 2019.