Audit & Assurance - On a journey towards business sustainability with people at the centre
As we close the books for FY21, we look back at a year like never before, reaching revenue growth of 5 per cent in Audit & Assurance. What we have learned about our organisation is that if there is a will, there is a way. The second wave of the pandemic hit during our peak season, and yet again teamwork, dedication and resilience defined the way our people responded.
Growing our clients and careers
Remarkable wins reflect this year’s achievements, confirming that we are redefining our business through a strong market focus that resulted in significant wins in our Industries and Private segments. Our investment in Assurance has unfolded extensively with significant revenue growth. We are bringing higher-value services to our clients, as well as new learning journeys and career paths to our people. And we are leading the digital transformation of our industry by integrating data-driven insights and automation into our audits to strengthen our clients’ businesses as well as enhancing audit quality.
Changing the work culture of the audit industry
Deloitte is our people. And therefore, we have made an essential decision to change the more than 100-year-old work culture that characterises the audit industry. We want to be a workplace where ambition and life balance naturally co-exist, so that we can deliver on our ambition to be #1 on quality and bring the best of Deloitte to our clients through a sustainable work culture. To enforce this ambition, we have implemented a new salary model that rewards our people for the value they create - not the hours they put in. These movements are part of our journey to be “more for less”. We want to become more valuable advisors to the clients, where we can create the most impact - while keeping both our people and business in balance.
Reimagining audit by redefining trust
This year, many aspects of our transformational journey have crystallised. Despite being affected by the pandemic, we continued the transformation of our business by increasing the use of technology to support our audits and sustain market-leading quality. We have invested over DKK 50 million in digitisation and technology, and we are currently streamlining our audits across the world. Delivering the highest audit quality is our legitimacy, and we are proud to have received a clean sheet in the 2020 inspection from the Danish Business Authority.
Looking ahead, we are committed to applying what we have learned into new ways of working and, thereby, move towards becoming an even more flexible, agile and innovative business. Moreover, we are investing immensely in the success of our people as well as new services to our clients and still meet the ever-increasing expectation from clients and society to act as trusted advisors. And we look forward to the day when we can see the reality of what was once an ambition - a truly reimagined audit and assurance business.