Welcome to the first PwC New Zealand Assurance Transparency Report.
With this report we aim to provide greater transparency to our key stakeholders and the broader community on how we conduct our audit work as well as our commitment to continually improving audit quality.
PwC’s purpose is to build trust in society and solve important problems. As New Zealand’s largest audit practice, we want to be part of providing greater insight into what’s involved in audit and be open about how we are performing against expectations.
This report is part of our journey to provide greater transparency about our New Zealand audit business. It covers a range of information related to our audit practice including:
We look forward to leading conversations with our clients and other stakeholders about the role and future of audit in this country.
“Quality audits are a critical component of a trusted and well-functioning capital market. Stakeholders need to have high levels of confidence in the transparency, objectivity and effectiveness of the audit process.
Over the past few years stakeholder expectations of audit have been shifting rapidly both in New Zealand and around the world. We recognise there is more to be done to maintain confidence and trust in audit.”
“As with any commitment to transparency there may be expectations that we haven’t met or insights that are challenging for us to reveal. Our ultimate goal is that investors, regulators, industry bodies and the wider market have insight into how we operate and the steps we are taking to improve audit quality.”