Quality audits are a critical component of a trusted and well-functioning capital market. They are fundamental to the integrity of financial reporting and help provide important protection for investors. Understanding the quality of the external audit is also a key role for boards.
The purpose of this document is to provide a suggested set of questions to help evaluate the quality of the external audit process, the performance of external auditors and their independence. It will be of most use to boards and audit committees looking to assess their external auditors and the work they perform.
By working through the questions outlined in this document, boards and audit committees will be able to build a clear understanding of the quality and independence of the external audit, assisting them in managing stakeholder expectations.
If you have any questions or would like to know more, please get in touch.
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