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Our commitment to Audit Quality – 2025

The business world relies on trust and confidence. We understand our role in promoting trust in financial reporting by performing high-quality audits. And we embrace that responsibility as independent auditors.

As auditors, we capture, communicate and report value through high-quality audit and assurance so the market itself can work better. With this foundation in place, we execute every audit with professional skepticism, due care, independence and objectivity in accordance with professional standards by:

Enabling talent with leading technology to shape the future

  • The EY global organization is investing over US$1 billion in next-generation assurance technology, in addition to US$1.4 billion in network-wide artificial intelligence (AI) investments.
  • This investment is facilitating the transformation of cutting-edge capabilities and a data driven audit into one seamless platform that integrates AI, cloud and predictive analytics
  • It helps our teams provide valuable client insights in support of high-quality audits
  • As the most globally integrated network, our technology platform enables a seamless, collborative and efficient experience for our clients that operate in more than one country.

Supporting our people with a focus on professional development

  • Our professionals work in teams together and with our clients through efficient use of technology and in person to facilitate communication, collaboration and authentic experiences that enhance audit quality and on-the-job training.
  • Building diverse teams with a continuous learning and improvement mindset is a priority to enable better decisions and innovation.

Integrating the use of specialists within the audit

  • As audits become more complex and technology driven, our audit approach increasingly brings multidisciplinary specialists spanning technology, tax, valuations, forensics, sustainability and cybersecurity into the team as well as any other specialty specific to sector demands.
  • This approach helps us address increasingly complex technology environments, transactions, worldwide tax regimes and business models.

Through these connected and continuous efforts, we are weaving quality into the very fabric of our organization — within audit and assurance and more broadly, at the core of our firm’s ethos in Canada.

This report should be read in conjunction with our 2024 Transparency Report which provides additional information about our firm structure, system of quality management and independence practices. 


Download EY Canada’s commitment to Audit Quality report

Our commitment to Audit Quality

Information for audit committees, investors and other stakeholders.

Download full report (pdf)


Highlights of key drivers of audit quality

Highlights of key drivers of audit quality

Summary

As part of our commitment to serving the public interest, we have a responsibility to provide our stakeholders with an understanding of how we conduct our audits, how we maintain our independence, how we monitor our performance and what we are doing to continuously improve the quality of our audits. This annual quality report, which we have been publishing since 2013, is one way we provide that transparency.

Contacts

We welcome any comments and questions you may have about the matters discussed in this report. Please contact an EY Canada partner for more information.

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EY Canada 2024 Transparency Report

EY Canada is committed to audit quality. As independent auditors we perform high-quality audits that promote trust and confidence in capital markets. Learn more.

30 Oct 2024 EY Canada

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