2016 Audit Quality Report

Driving innovation, advancing quality, and shaping the profession

At Deloitte, we aspire to be the market leader in audit quality in Canada.

We work every day to enhance audit quality. Our regulators assess and comment on it. Public companies ask their auditors what they're doing about it.

At the same time, today's disruptive business environment is challenging the audit profession to remain relevant. We're embracing this opportunity to envision the audit of the future and set our course to continually advance audit quality.

Consistently delivering the highest level of audit quality is our top priority. Quality informs every aspect of our audit practice, from strategy to delivery, and guides every step we take to support and develop our professionals.

Deloitte's 2016 Audit Quality Report outlines key steps we've taken to enhance audit quality, the investments we're making to transform the audit, and our continued commitment to embracing a bold new mindset as we aim to lead the market and shape the future of the audit profession in Canada.

Download: 2016 Audit Quality Report

To learn about how we are embracing a bold new mindset, and shaping the future of audit.

Leading the way forward

Our report explores areas in which Deloitte is advancing audit innovation and quality. We're:

Leading the way in Canada: We believe the best way to stay ahead of change is to lead change. We encourage an innovative culture that supports audit excellence, and our recent significant financial investment – in training, management systems, tools, and monitoring mechanisms – reflects how seriously we take our objective to become the market leader in advancing audit quality.
Leading the way in technology: Canada's audit innovation and analytics team is leading the culture shift in how we think about and perform our audits, embedding innovation and analytics in everything we do.
Leading the way in shaping the future: We're constructively engaging in dialogue around implementing significant audit reforms, enhancing quality standards, reimagining the audit business model, and other topics critical to molding the future.

We aspire to be our own toughest critic in our effort to advance audit quality ̶ technical quality for ourselves and insight-driven quality for our clients. We’ve shifted towards a mindset of continuous enhancement driven by our own metrics and feedback, not primarily by regulatory inspection results.

Richard Olfert, Managing Partner, Regulatory, Quality & Risk

Destination for a new generation of thinking

At Deloitte, the pursuit of audit quality is at the centre of our culture of continuous improvement and innovation, as we seek to make our best work today even better tomorrow. This means backing our words with significant investment and action, including the founding of the Deloitte Institute for Audit Innovation and Quality.

The Institute will be an integral addition to Deloitte University North, located in our downtown Toronto workplace, and will be dedicated to advancing thought leadership on issues central to quality and innovation, through programming with key stakeholders and the publication of original Deloitte papers.

Deloitte institute for audit innovation and quality
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