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  • Asia-Pacific Assurance Leader - 3

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    1) The document discusses EY's focus on audit quality through initiatives like audit quality summits in Asia-Pacific countries, monitoring of top engagements, and strengthening reviews of partner performance. 2) It emphasizes the importance of embedding a culture of openness and knowledge sharing, and establishes committees to oversee quality and adapt to changing public expectations. 3) EY aims to deliver its social mission of protecting capital markets through innovation, data analytics, and ensuring a globally sustainable approach to audit quality.

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    Asia-Pacific Assurance Leader_3

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    1) The document discusses EY's focus on audit quality through initiatives like audit quality summits in Asia-Pacific countries, monitoring of top engagements, and strengthening reviews of partner performance. 2) It emphasizes the importance of embedding a culture of openness and knowledge sharing, and establishes committees to oversee quality and adapt to changing public expectations. 3) EY aims to deliver its social mission of protecting capital markets through innovation, data analytics, and ensuring a globally sustainable approach to audit quality.

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    5 views1 page

    Asia-Pacific Assurance Leader - 3

    Uploaded by

    Proyecto Cemento
    1) The document discusses EY's focus on audit quality through initiatives like audit quality summits in Asia-Pacific countries, monitoring of top engagements, and strengthening reviews of partner performance. 2) It emphasizes the importance of embedding a culture of openness and knowledge sharing, and establishes committees to oversee quality and adapt to changing public expectations. 3) EY aims to deliver its social mission of protecting capital markets through innovation, data analytics, and ensuring a globally sustainable approach to audit quality.

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    of 1

    World view

    Edward Ho Hitoshi Matsuoka


    EY Asia-Pacific Assurance Leader EY Japan Assurance Leader

    Audit quality is of the audit quality. In many The foundation of an audit (AQCC), which monitors the
    upmost importance. It sets respects, they can be seen organization’s social mission status of audits.
    EY apart, supports our as an operational review as has been, and always will be,
    reputation, and is my priority much as a quality summit. protecting capital markets To develop our people, we are
    when I address both internal by providing confidence providing external training
    and external audiences. The QELs have also been in companies’ financial sessions and other activities
    an important initiative in statements. We have to be to help them understand the
    One of the most significant Asia-Pacific. If we have constantly mindful of what thinking of a wide range of
    SAQ initiatives in Asia- an audit quality issue, the public expects of us. stakeholders. We also transfer
    Pacific has been our audit identified through a root- people between divisions
    quality summits. These are cause analysis, then we To keep meeting the public’s and offices, and second them
    one-day events, attended immediately have a network changing expectations, we to other service lines and
    by all the audit partners in a of partners who can cascade need to embed a professional external organizations.
    country. So far, we have run the appropriate message culture that encourages our
    them in Malaysia, Indonesia, quickly. It is a powerful people to be open and to We have strengthened reviews
    Thailand, Vietnam, Korea communications vehicle. exchange opinions, information of partner performance so that
    and the Philippines. and knowledge across the evaluations are conducted
    So is the Milestones project organization. We want change with a stricter assessment
    We carry out a survey of audit management program — both to be seen in a positive light. of audit quality. Evaluations
    partners to discuss quality at a global and Area level. for audit quality are discussed
    issues two weeks ahead of In Asia-Pacific, we have To embed this culture, we and decided at the AQOB
    each summit. Then we use focused on our top 100 have embraced SAQ, updated after a primary evaluation is
    the results to determine the engagements, checking that our organizational structure, executed through the ongoing
    agenda for the event. On the each audit is on schedule. improved our quality control monitoring of the AQCCs.
    day, action points are collated This is now being extended system for audit work and
    and an implementation plan to the top 200 engagements, strengthened our approach We launched the Assurance
    developed. The Assurance and could be extended still to talent development Innovation Lab in November
    Leader in the relevant further in the future. and evaluation. 2016, aimed at creating the
    country is then asked to “Smart Audit of the Future” by
    monitor and execute the The summits, QEL network We have established using technology such as data
    implementation plan, with and Milestones program have a professional Culture analytics, artificial intelligence
    support from the Area and all helped to maintain our Improvement Committee, a and blockchain.
    regional QELs. focus on audit quality. We Public Interest Committee and
    have established a strong an Audit Quality Oversight By capturing public
    Every market is different, tone from the top and a Board (AQOB). Each of the expectations of us and
    and the summits are a great supportive culture, which we seven divisions in Japan has adapting to change, we work
    opportunity to discuss will continue to build on in the also established an Audit to deliver our social mission
    particular ways to improve months and years ahead. Quality Control Committee as an audit organization.

    Audit Quality: A Globally Sustainable Approach


    17

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