Perspectives

Swiss Audit Transparency Report 2019

Being transparent about our commitment to audit quality is very much in the public interest and underpins our approach to this Swiss Audit Transparency Report.

We are delighted to present Deloitte Switzerland’s Audit Transparency Report 2019, a key element of our communication with clients, investors, regulators and the wider community of stakeholders. This report provides current reflections on the audit industry as well as insights into the culture, vision and direction of our Swiss Audit business.

In June 2019 we started a new era with a newly appointed leadership team. The new team has clearly reiterated that audit is a critical part of our firm and that providing high quality audits and acting in the public interest is fundamental to our brand. We are keen to demonstrate absolute commitment to audit quality so we will continue to invest in the audit business – both in the technology required, and in the skills and development of our people.

Our purpose: Making an impact that matters

For our audit practice, making an impact that matters means delivering independent audits of the highest quality. However, the impact of our work goes beyond our audits as we strive to continuously improve the relevance and quality of corporate reporting. Attesting that financial statements give a true and fair view in all material respects and providing insight into the conduct, controls and “tone at the top” of a company give stakeholders the confidence they need to make critical decisions. This trust has been vested in Deloitte by society and it is our duty to live up to society’s expectations.

Building a future-proof approach

While audit quality will always be essential, the methods for achieving quality are evolving rapidly. At Deloitte, we want to stay ahead. We are embedding advanced technology into our methodology, and ensuring we have experienced audit teams in place to design and deliver audits tailored to stakeholders’ needs as their businesses grow and evolve.

We are using the same technologies that are currently transforming businesses - such as cloud, process automation, data visualization and cognitive analytics – to transform our audit approach. This enables us to not only work smarter and faster but also to deliver insights into current business challenges - harnessing data, understanding risk and improving processes.

As Managing Partner for Audit & Assurance, I strongly believe that innovation and quality must be part of every aspect of our practice, from strategy to delivery. I want to commit that we bring both into the core of how we audit: With automation that improves routine tasks, analytics that yield a deeper and more insightful view into the data, artificial intelligence that enhances problem-solving, expert people who offer industry knowledge and insight, and a broad range of assurance services that brings additional trust and confidence. My objective is to be recognised as the most value adding and innovative Audit & Assurance practice on the Swiss market.  - Alessandro Miolo Managing Partner Audit & Assurance

Powering up our talents

Talent is key when it comes to delivering high quality audits. Our ability to attract, develop and retain the right people is a key success factor for our audit business.

We therefore heavily invest in our people, reinforcing our learning and development offering, training our auditors to think critically and making the most out of the new technologies. We also endeavour to foster a collaborative corporate culture based on strong shared values and purpose and with a marked emphasis on diversity and inclusion.

It is definitively a challenging time for our profession but also an opportunity to restore public trust and continue serving the public interest. We hope this report will provide you with useful insight into Deloitte’s vision and way of auditing. We will gladly welcome your feedback and look forward to constructive discussion and exchange.

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