Over the years investors and companies have learned to appreciate the importance of audit. The events witnessed in recent years in the global financial markets demonstrated clearly that changes are necessary - starting from planning and performing the audit through to the issuance the auditor’s opinion.
Business circumstances have changed, as have the manner of value creation by companies and perception thereof by the investors; the requirements and needs of financial statements users evolve as well.
To fulfill its role, audit must therefore be adapted to the current environment. Innovation becomes crucial. Work on the new reporting model which would meet the needs of various stakeholders has now been all but finalized, however, the global deliberations on the future of audit and its value are still ongoing.
Please join the discussion as part of KPMG’s Value of Audit initiative on our