Ensuring Audit Quality and Engaging Investors (Video)

Audit quality — how to achieve it, and what it means to the investor, auditor, company, and other stakeholders — is the topic of a discussion between Vincent Papa, PhD, CFA, director of financial reporting policy at CFA Institute, and Mark Vaessen, KPMG International global head of International Financial Reporting Standards (IFRS) activities and with leadership responsibilities related to KPMG’s Way Forward for Audit Initiative.

During the discussion Papa and Vaessen agreed that defining audit quality is challenging, with Vaessen providing his perspective on audit quality and how it is reflected in the work of KPMG. Vaessen emphasizes the importance of audit quality in light of the economic value of audit in the eyes of stakeholders and notes that in conducting conversations with stakeholders across the globe — as a part of KPMG’s Value of Audit Program — stakeholders indicated that audit quality was of crucial importance. As it relates to investor engagement in assessing the value and quality of the audit, Vaessen noted that KPMG intends to increase engagement with investors, noting: “We want to have the ultimate voice of the investor heard. Investor protection is a goal of the audit.”

View the entire interview here.

View a related post featuring Papa and Vaessen: “Auditor Report: Baseline Set, Now Searching for ‘Sweet Spot’ in Investor Communication.”

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