Transparency Report 2020 Transparency Report 2020

Audit is the foundation of our business, and audit quality is at the core of KPMG.

In our 2021 KPMG International Transparency Report, we document how we are improving our quality management—by investing in new technologies and resources, while building a stronger culture of consistency and accountability. We share how our relentless focus on quality underpins our commitment to serve the public interest, drives our ambition to be the most trusted and trustworthy professional services organization and delivers on ESG commitments, as outlined in Our Impact Plan.

KPMG has a simple but bold ambition: to become the most trusted and trustworthy professional services organization. That aim is impossible without delivering quality audits, and even though we have a sound foundation to build on, we need to constantly innovate, never losing our focus – especially as leaders of this proud profession.

This past year we’ve continued to invest in our system of quality management, global monitoring of audit quality, and enhanced support. We’re also expanding access and training for innovative technology and tools for our engagement teams, such as KPMG Clara, our smart audit platform, to drive consistency, collaboration and efficiency.

All our actions are guided by our Values. They drive our daily behaviors, guide our decisions, and shape our ethical culture. Integrity is a core Value — we do what is right, in the right way, at the right time. We embody our Values of integrity and excellence in our commitment to quality, and our new Global Quality Framework outlines how every partner and employee contributes to delivering high-quality audits.

Our people are at the heart of our business and supporting their wellbeing remains a priority through challenging times. This also means assessing the appropriate level of workloads as well initiatives that drive efficiencies through technology.  

Driving improvements in audit quality relies on exceptional people always doing the right thing, not taking shortcuts, and being able to speak up without fear of repercussion. Our new Global Quality Framework outlines how every partner and employee contribute to delivering high quality audits. These are mandatory actions and behaviors, built on our Values that have been our guide throughout nearly 150 years of providing quality audits.

We recognize the significance of the International Sustainability Standards Board, announced at COP26, and our evolving role to provide assurance over sustainability disclosures with the same focus that our auditors deliver over financial statements.

Finally, creating the right environment requires strong governance and practice management standards. It’s why our Global Board implemented governance changes to achieve greater levels of consistency and accountability across our entire global network. All KPMG member firms are now committed to a common set of Values, standards, and service quality expectations.

Together, we’re making incredible strides for the better. Quality is what our profession is built on, and it’s why KPMG is relentless in our approach to delivering it. 

Thank you for the trust you have in us. 

For more, kindly download and read the full report.