Welcome to KPMG Lower Gulf's Transparency Report for the financial year ended 30 September 2024. 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.
Our commitment to audit quality
Quality is fundamental to our purpose, and we constantly monitor and evaluate it. At KPMG, this is not a mere tagline; it is the driving force behind everything we do. We understand the immense responsibility we hold in ensuring the accuracy and integrity of financial reports. We recognize that robust transparency principles are needed for the public to gain insight into our audit services.
Our Global KPMG Quality framework serves as our guiding light, emphasizing the centrality of integrity in everything we do. This report outlines KPMG’s approach and commitment to audit quality, including actions taken to enhance it during the financial year ended 30 September 2024. 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.