Audit quality

Audit quality helps build trust and confidence in capital markets, and spurs greater investment and economic growth. Audit quality is the single most important factor in our decision-making, and the key measure on which our professional reputation stands.

We are pursuing a global initiative called the Sustainable Audit Quality Program to maintain and continuously improve audit quality. Through this program, we are hiring the right people, developing the abilities of each individual, fostering innovation, encouraging simplification, and monitoring business execution. As a result of the program’s efforts to enhance audit quality, we have established our intent to make continuous improvements throughout the organization. Four keywords - people, data, value and trust - describe the themes that underpin sustainable audits as we are press ahead to further enhance audit quality.
 

Audit Quality Report 2023

Ernst & Young ShinNihon LLC (Chiyoda-ku, Tokyo; Masami Katakura, Chairwoman & CEO), an EY member firm, has published the Audit Quality Report 2023, which describes the firm’s efforts to pursue audit quality through management and governance structure, quality management, and talent development.

The report includes a dual focus on efforts to achieve the future of audits that are one step ahead of society’s expectations.

Responding to the new era of sustainability management and disclosure examines our support of a company’s initiatives on sustainability, understanding and assessment of corporate strategies to improve audit quality, and responding to the growing needs for assurance.
Entering the stage when real-time audits are feasible provides an overview of the real-time auditing that EY ShinNihon is working towards, including real-time speedy audits, centralized audits that are global in scale, and in-depth sector-focused audits.

We are committed to looking toward the future one step ahead, and determined to continue to be innovative because we are an audit firm with a mission to build trust in capital markets through high-quality audits. As professionals, we will achieve an even greater understanding of our clients’ businesses and be consistent in our use of professional skepticism when conducting risk-assessed detailed audits, so that we can contribute to the development of the economy and society as a gatekeeper to capital markets.

*The report is available in Japanese only.