Building trust through transparency and audit quality

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:  

  • Our governance structure, culture and values, and the policies and processes we have in place for our audit work.
  • Our first Audit Quality Balanced Scorecard for the year to 30 June 2020 which discloses how we are performing against key measures of audit quality such as internal PwC inspection findings, training and culture. It also includes details about our audit reporting.
  • The initiatives we have undertaken over the past 18 months to improve audit quality such as the launch of our independent Audit Advisory Board.
  • An overview of how we have delivered audit quality during the COVID-19 pandemic and the work we have done in helping the market understand the impact on financial reporting.

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.”

Mark Averill CEO and Senior Partner

“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.”

Lisa Crooke Managing Partner, Assurance

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Contact us

Mark Averill

Mark Averill

CEO and Senior Partner, PwC New Zealand

Tel: +64 21 646 418

Lisa Crooke

Lisa Crooke

Managing Partner, Assurance, PwC New Zealand

Tel: +64 21 386 880

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