Swiss Audit Transparency Report 2018
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 introduce you to the Audit Transparency Report 2018 for Deloitte Switzerland, a key element of our communication with clients, investors, regulators and the wider community of stakeholders.
Our audit profession has recently made the headlines, with stories on the role of audits, the independence of firms who provide advisory and audit services and even the potential need to break up the Big 4. While this criticism makes for uncomfortable reading, it also clearly highlights the importance of our public interest role.
This report therefore provides our views on some of these topics as well as insights into the culture, vision and direction of our Swiss Audit business.
Our transformational journey
In an age of exponential technological transformation, globalisation and increasing business complexity, we have already made substantial investments to improve our audit quality and our practice of today looks already very different to the one of a few years ago. We are driving the transformation of our profession by bringing new technologies such as artificial intelligence, automated workflow processes and advanced analytics to our audit processes in unprecedented ways.
Audit quality is essential
At Deloitte, Audit quality is a top priority. It informs every aspect of our practice, from strategy to delivery, and guides every step we take to support and develop our professionals. Audit quality is the core element for which we are continuously investing, and on which we engage with stakeholders, including regulators, to discuss and implement changes that will ultimately benefit the public interest.
The power of our multi-disciplinary model
Our model is also an asset to our quality of service. It indeed enables us to have increased knowledge about the entities we audit, a broad access to technology and innovation, and not to forget a large pool of talent with the necessary skills and industry experience for the Swiss market. It also helps us attract and retain the best talent by providing a broad and varied range of career options.
Our investment for next generation auditors
We are continuously investing in and for our talents. During fiscal year 2018, our Swiss Audit & Assurance service line recruited over 140 new joiners including 4 Partners, and celebrated many internal promotions at all grades.
We also reinforced our learning and development curriculum to build the skills and capabilities required from the next generation auditor in a digital world.
We also continuously foster the development of our talents by giving them access to work mandates in other geographies and supporting their personal projects, be it around parenting, studying, charity work and more.
This is a challenging and yet fascinating time for our profession and we truly want to play our role in ensuring that audit regains public trust and continues playing its vital role of serving the public interest.