Transparency report 2023

Welcome to KPMG Lower Gulf's Transparency Report for the financial year ended 30 September 2023. This report dives deep into how we drive audit quality, our systems of quality management, and the initiatives we are continuously pursuing to improve it. We believe in leading the profession through unwavering dedication to the highest quality standards.

In 2023, we celebrated a milestone: 50 years of KPMG in the UAE. This half-century journey hasn’t just been about our legacy; it's a story of how our audit services have inspired confidence and empowered local businesses. By adhering to the highest standards, we've enhanced their financial credibility and decision-making, contributing to a thriving regional economy. This milestone highlights our enduring commitment, evident in our investment in local talent and efforts to empower local businesses and enhance the growth and well-being of communities.

For us at KPMG, quality isn't just a tagline; it's the driving force behind everything we do. We understand the immense responsibility we hold in ensuring the accuracy and integrity of financial reports. This report outlines KPMG’s approach and commitment to audit quality, including actions taken to enhance it during the year.

Our Global KPMG Quality framework serves as our guiding light, emphasizing the centrality of integrity in everything we do. This report specifically focuses on the activities of KPMG Lower Gulf for the financial year ended 30 September 2023. All figures disclosed herein are as of 30 September each financial year, unless otherwise stated.

KPMG defines Audit Quality as being 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
• Undertaken in an environment of the utmost level of objectivity, independence, ethics, and integrity