Our Commitment to Audit Quality

by Scott Flynn & Christian Peo

Audit quality has been, and always will be, our fundamental promise to the audit committees, investors, companies, communities and other stakeholders we serve. It is our highest priority and the 2020 Audit Quality Report: Dedicated to trust. Committed to quality highlights the steps we’ve taken to continuously support and reinforce audit quality, drive innovation, invest in our people, and strengthen our culture and values.

7 key numbers from the KPMG Audit Quality report

2020: The year of the unexpected.

Working remotely during the COVID-19 pandemic fast-tracked our innovation. Responding to today’s needs made us stronger for tomorrow – finding solutions with enduring benefits; driving innovation that enhances quality. 

60%: Audit professionals are from underrepresented groups, but today we are disclosing more.

Accelerate 2025 seeks to make KPMG the employer of choice for individuals from underrepresented groups to build their careers and advance into leadership positions. Increasing transparency is part of that journey. We reported that across the firm, 46% of our people are women and 34% are people of color. Meanwhile, 24% and 16% of partners and managing directors are women and people of color, respectively. Our recent partner and managing director promotions are closing the gap – 31% were women and 24% were people of color – but we know we have work to do.

1,605: New campus hires joined our firm this year.

To sustain a diverse team and make our Accelerate 2025 vision a reality, we are deploying a new, virtual recruiting strategy and technology platform and transitioning to an open application process.

3,500: Client sites using KPMG Clara, our global smart audit platform.

KPMG Clara enables the delivery of a smarter, data-driven audit that focuses on audit quality, enhances productivity and leads to deeper insights. It enhances clients’ audit experience, embeds data analytic capabilities, and improves document and information exchange, collaboration, and transparency into audit status.

2,000: Audit professionals upskilled in data analytics skills and/or IT audit.

Enabling technologies created opportunities to standardize aspects of our methodology and centralize certain procedures – empowering professionals to expand their skills. The human touch is irreplaceable, but digitization enhances what we value in the human touch and enables a more efficient and tailored experience – freeing our teams to focus on areas of risk and uncovering more robust insights.

>90%: Partners and employees making Culture Commitments.

Our culture provides the backdrop for ensuring our people are supported and can succeed. Confidence in our culture effort has grown and we are seeing how our values influence our actions and the responsibility to step up and speak out when others are not living our values.

250,000: Training hours delivered through the Roadmap Learning series.

This series immersed participants in KPMG Clara and embraced the different ways in which people learn. Our professional development process connects goals, expectations and strategic initiatives. We have positioned audit professionals to own their careers by providing flexibility and encouraging them to seek opportunities for growth structured around and defined by the Audit Core Competency Framework.

Media contact

Elizabeth Lynch

Elizabeth Lynch

Manager, Corporate Communications, KPMG US

+1 201-505-6316

 

 

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