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Transparency Report 2023
On behalf of Deloitte Audit, société à responsabilité limitée, an approved audit firm in Luxembourg (cabinet de révision agréé), we present our 14th annual Audit Transparency Report. This report covers the financial year that ended on 31 May 2023 and was prepared pursuant to Article 13 of the Regulation (EU) N° 537/2014 of the European Parliament and of the Council of 16 April 2014 on specific requirements regarding statutory audit of public interest entities (the EU Audit Regulation) and in accordance with the Luxembourg Law of 23 July 2016 concerning the audit profession, as amended.
In the face of constant transformation, the dedication of Deloitte Audit & Assurance services lies in contributing to the confidence, stability and trust in the financial system and safeguarding the public interest. To do so, we rely on our long-standing and unwavering commitment to quality, integrity, and transparency. This commitment is pivotal to instilling trust among capital markets, policy makers, regulators, and the general public.
We also resolutely build upon our talent, reinforcing our diverse and inclusive teams. We equip them with advanced skills, including in areas that are shaping the future of our profession, like technology, data as well as continuous professional development and training. Our goal is to empower our talent to harness the full potential of these new tools to elevate quality standards and to support adaptation to emerging economic, business, and regulatory dynamics.
Aligned with the imperative to foster sustainable economies, Deloitte is actively developing its Assurance services and supports ongoing collaboration across all participants in the financial reporting ecosystem – which pertains not only to financial data but also, increasingly, to non-financial data. Together, we strive to formulate and implement shared standards for measuring, disclosing, and ultimately ensuring the reliability of ESG information, particularly those linked to the Corporate Sustainability Reporting Directive (CSRD). Such information is paramount for both capital markets and broader society, as it facilitates transformation and fosters positive impact within our communities. Additionally, we are prepared to address geopolitical issues and risks that may impact our clients and their operations, including crises, sanctions, cyber threats, inflation concerns, and environmental constraints.
As the Réviseurs d’entreprises’ roles and responsibilities rapidly evolve, we are aware of the necessity to embrace these new mandates. This is essential in effectively discerning risks, helping clients to navigate through intricate business landscapes, and contributing to a more robust and resilient economy. The recent updates in the legislative and regulatory framework, particularly the introduction of the International Standard of Quality Management ISQM1 on 15 December 2022, featuring a risk-based approach, demand our unwavering commitment to compliance and professional duties.
Deloitte’s reputation is anchored in the excellence of the audit and assurance services we provide and our steadfast commitment to continual enhancement. Our 2023 Audit Transparency Report distinctly showcases this commitment across all dimensions of our work, reaffirming our aspiration and pride in being trusted partners to build better futures.