Regulatory and public policy engagement
Collaborative leadership drives results
A robust risk-intelligent culture helps enable member firms to deliver excellence to clients, fulfill the expectations of its key stakeholders, and ensure it is serving the public interest.
Deloitte is an active participant in the dynamic regulatory and public-policy discussions around the world. Deloitte professionals engage with key stakeholders—government, political, business, and civil society—to contribute to policy development that promotes investor confidence, facilitates cross-border business growth, and supports economic success, growth, resilience, and sustainability.
Given our role in the capital markets, audit quality and auditor independence remains a key focus for Deloitte firms. We continue to collaborate with stakeholders, including regulators and other government groups, on the future role of auditors, improving audit quality and the future of audit reports. We also continue to be engaged in various financial market standard-setting and public-policy forums.
During FY2014, Deloitte member firms in Europe closely monitored and engaged with stakeholders as the EU developed its audit legislation, which will become applicable in June 2016. Many of the legislative changes will serve to strengthen corporate governance and enhance the transparency of audits to investors and audit committees, which include expanding the scope of reporting by the auditor. We also engaged in discussions on other long-term capital market sustainability issues. These include our work with the International Integrated Reporting Council, our professional associations, and others.
“Continuing to work with government and investors to improve audit quality and strengthen company reporting is one of the greatest contributions we can make to the capital markets, and remains a key priority for Deloitte,” says Jeff Potts, Deloitte Global Regulatory and Public Policy Leader. “However during the past year, we have also strengthened our efforts toward helping solve broader societal challenges through the sharing of the broad insights and experiences of our 200,000 plus member firm professionals. We bring the real, live impact of government policy to the table; contributing to practical outcomes that we believe will build more sustainable society.”
Examples of issues where Deloitte contributes its capabilities include: responsible taxation; corporate governance; immigration and the mobility of people; anti-corruption; technology and security; jobs and skills, including youth employment; trade and investment; and women in the economy.
Deloitte has also greatly enhanced its contribution to trade in services liberalization discussions, including communicating obstacles companies—and professional services firms—face in doing business across borders. We follow and engage in specific trade expansion negotiations—including Trade in Services Agreement (TiSA),Trans-Pacific Partnership (TPP), and Transatlantic-Trade and Investment Partnership (TTIP)—through contributions to international business associations, international inter-governmental organizations, and direct discussions with trade representatives and other key trade policy participants.
The DTTL Global Regulatory and Public Policy Group and member firms continue to strengthen relationships with external policy makers—including the G20/B20, the Asia-Pacific Economic Cooperation (APEC), and local government and political leaders—who share our concerns on issues impacting sustainable economic growth and development.
During FY2014, we strengthened our collaboration with key policy-influencers such as the Organisation for Economic Co-operation and Development (OECD) through its Business and Industry Advisory Committee (BIAC); the World Economic Forum; and the German Marshall Fund of the United States, just to name a few.
Member firm participation
In FY2014, member firms built deeper and stronger local engagement programs in order to provide more valuable contributions to myriad socio-economic policy challenges. Issues member firms focused on this year included skills and mobility, diversity, education, productivity, regional economic integration, and technology and connectivity.
Through the combined activities of our member firms, Deloitte is contributing to shared public-interest goals within the marketplace and contributing to a better and stronger society.
In this report, the terms Deloitte, our, we, and us are used to refer to the Deloitte Touche Tohmatsu Limited (DTTL) network of member firms or to one or more DTTL member firms. See additional information.
[Caption]: Photo credit top banner, Diego Urrestarazú, Deloitte LATCO
Deloitte recognizes both the responsibility and ultimate benefit of developing relationships with governments, nongovernmental organizations, and other businesses to tackle increasingly difficult economic and social issues. Read how Deloitte is tackling the world's toughest challenges.
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