Deloitte in the news

‘Audit – only’ proposal won’t fix auditing industry challenges

“Given the current state of our profession, the criticism of it is warranted. We have begun the process of introspection”.

Deloitte Africa Chief Executive Lwazi Bam shares his views on the current state of the auditing profession as published in the Sunday Times.

“The auditing profession is undergoing the most profound transformation in its history, with recent calls for "audit-only" firms adding further challenges. As a practitioner and the leader of Deloitte Africa, it pains me to see the profession occupying headlines in a negative manner. I believe the majority of audit professionals are individuals of unquestionable integrity, who have dedicated their lives to serving their profession and delivering work that would withstand any level of scrutiny.

But it is incumbent on us to "hear" the voices raising concern about the overall integrity and value-add of the profession. Citizens and stakeholders alike expect more from us, and we have not always lived up to their expectations”.

 

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