At PwC, our purpose is to build trust in society and solve important problems. We can’t accomplish this without a culture of excellence, integrity, and quality. That’s why we remain committed to performing quality audits and to the continuous improvement of auditing and financial reporting. We also look for continuous improvement in our governance, which we enhanced this year by adding two external directors to our board. They will provide objective perspectives, insights, and expertise as we consider our firm’s strategy.
In a world that is changing rapidly, audit quality is a journey—not a destination. Each year we take action so that our audits continue to meet the challenges of evolving risks to reliable financial reporting, including changes to accounting standards, stakeholder expectations, and the business and regulatory environments in which we operate. We also assess our performance and learn from our experiences so that we can identify where changes will further enhance the quality of our audits.
The Transparency Report is published in accordance with the requirement set forth in Article 45 (5)(e) of the European Union's Directive on Statutory Audit 2006/43/EC. Its contents are also generally consistent with the information that the Center for Audit Quality recommends be included in an audit firm's transparency report.