To investors and companies alike, audit has consistently proven its worth. But it's time for reflection – especially post the financial crisis.
It's important to reflect on issues of risk, governance and the role we as auditors can play – especially as we are in a truly unique position to see and interact with all the different areas of an organisation.
The ability to provide independent financial statement audits – which enhance the reliability of the information provided by companies to investors, creditors and other stakeholders – cannot be undervalued. We have insights and observations to share, but sometimes expectations change and there’s a lack of understanding in what we do.
"Now is the time for new thinking around audit and how it can meet the changing needs of business and shareholders."
National Managing Partner, Audit
When we started thinking about the future of audit, we wanted to find out where we are now: whether lead partners from KPMG member firms in different regions thought there was value in audit today, and if so, what this value is. The Value of Audit seeks to explore the role of audit through 16 candid interviews with KPMG audit leaders from around the world, including myself.
Auditors play an important role in capital markets and I invite you to not only read our views but, importantly, join us in the conversation.
Visit KPMG's Global website for further information.