KPMG launches 2024 Hong Kong Audit Quality Report

Driving trust through quality

6 June 2025, Hong Kong (SAR), China ("Hong Kong") – KPMG is proud to announce the release of its 2024 Hong Kong Audit Quality Report, reaffirming its unwavering commitment to delivering audit quality that fosters trust, accountability, and transparency. As the firm celebrates 80 Years of Trust in Hong Kong, KPMG has been a leader in delivering audit and assurance services that are essential to the successful working of the capital markets. The quality of our audit and assurance engagements remains a top priority at KPMG, with a commitment across the organisation to serve our clients, stakeholders, and the public with the highest professional excellence, ethics, and integrity.

Audit quality is fundamental to KPMG’s ambition to be the most trusted and trustworthy professional services firm. The 2024 Audit Quality Report details the proactive measures taken to enhance audit quality, including investments in technology, evolving audit methodologies, and fostering a culture of continuous improvement.

The report showcases KPMG’s strategic focus on delivering sustainable quality and meeting evolving client needs. Key highlights include:

Driving innovation through digital transformation: The integration of KPMG Clara, a state-of-the-art, cloud-based audit platform, and the adoption of the KPMG Trusted AI framework reflect KPMG’s commitment to leveraging technology ethically and responsibly.
Commitment to ESG reporting: Enhanced methodologies and frameworks ensure robust ESG assurance, aligning with global standards and societal expectations.
Support and development of our people: KPMG’s focus on health, well-being, and technical upskilling ensures its teams are equipped to deliver high-quality audits.
Continuous Improvement: Rigorous audit quality monitoring, root cause analysis, and quality action plans drive ongoing progress and accountability.

A particular highlight of this year’s report is the adoption of the Trusted AI framework to guide the integration of artificial intelligence into audit processes. This framework underscores KPMG’s dedication to embedding trust, transparency, and accountability into the use of AI technologies. By equipping auditors with cutting-edge tools like generative AI capabilities within KPMG Clara, the firm ensures seamless audits with real-time visibility and enhanced risk assessments.

The 2024 Audit Quality Report underscores KPMG’s vision of shaping the future of audits through innovation, integrity, and transparency. As the firm continues to evolve alongside its clients and society, it remains steadfast in its mission to uphold the highest professional standards and safeguard the public interest – values reflected in this year’s anniversary theme: 80 Years of Trust.

Ivy Cheung, Senior Partner in Hong Kong SAR and Vice Chairman of KPMG China, says,

At KPMG, our commitment to audit quality is not static. In a world of rapidly evolving business complexities, driven by ESG demands and the transformative potential of AI, we recognise the need to continuously enhance our methodologies and equip our professionals with cutting-edge tools. This evolution ensures we not only meet the present needs of our clients and stakeholders but also anticipate and address the challenges of tomorrow, reinforcing trust in the capital markets.

Wilson Lee, Head of Audit, Hong Kong SAR, KPMG China, says,

For KPMG, quality is a journey of continuous improvement. We are dedicated to fostering a culture of learning and innovation, where we embrace new technologies and insights to strengthen our audit processes. By investing in our people, embedding robust quality management systems, and integrating advanced capabilities like generative AI, we are building an organisation that upholds the highest standards of ethical behaviour and audit quality.

To learn more about KPMG’s initiatives and investments in audit quality, download the 2024 Audit Quality Report here.

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Media inquiries

Isis Wong
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Email: iw.wong@kpmg.com

Carrie Wong
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Email: cy.wong@kpmg.com

Angela Wong
CDR
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Email: KPMG@cdrconsultancy.com

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About KPMG

KPMG in China has offices located in 31 cities with over 14, 000 partners and staff, in Beijing, Changchun, Changsha, Chengdu, Chongqing, Dalian, Dongguan, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Hefei, Jinan, Nanjing, Nantong, Ningbo, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Taiyuan, Tianjin, Wuhan, Wuxi, Xiamen, Xi'an, Zhengzhou, Hong Kong SAR and Macau SAR. It started operations in Hong Kong in 1945. In 1992, KPMG became the first international accounting network to be granted a joint venture licence in the Chinese Mainland. In 2012, KPMG became the first among the “Big Four” in the Chinese Mainland to convert from a joint venture to a special general partnership.

KPMG is a global organisation of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited ("KPMG International") operate and provide professional services. "KPMG" is used to refer to individual member firms within the KPMG organisation or to one or more member firms collectively.

KPMG firms operate in 142 countries and territories with more than 275, 000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.

Celebrating 80 years in Hong Kong

In 2025, KPMG marks “80 Years of Trust” in Hong Kong. Established in 1945, we were the first international accounting organisation to set up operations in the city. Over the past eight decades, we’ve woven ourselves into the fabric of Hong Kong, working closely with the government, regulators, and the business community to help establish Hong Kong as one of the world’s leading business and financial centres. This close collaboration has enabled us to build lasting trust with our clients and the local community – a core value celebrated in our anniversary theme: “80 Years of Trust”.