Although there is a legal requirement for audit firms to produce a Transparency Report, it is a requirement that is more than welcome as we believe it is of paramount importance to be transparent in the public interest function we perform as statutory auditors, in that the investing public and capital markets rely on the quality of our work.
We are deeply committed to delivering a high quality audit to help meet the important objective of credible and transparent financial reporting.
We are therefore particularly pleased to present our transparency report which relates to the calendar year ended 31 December 2011. This report sets out the structure and governance of our firm and our network, as well as the system of quality control we adopt not only in audit but in all aspects of our business.