Audit quality

Quality is our top priority and we’re committed to delivering consistently high quality audits that meet the needs of investors, the organisations we audit and wider stakeholders.

Our Audit Quality Plan

We continue to invest in our audit practice and have a detailed Audit Quality Plan, which sets out all of our activities that are fundamental to delivering high quality work and ensures that performing consistently high quality audits remains our primary focus.

Audit Quality Measures

Our Audit Quality Measurement framework includes three key measures of audit quality to provide a comprehensive view of the quality of our audits.

87%

FY23: 86%

Of respondents to our annual audit culture survey feel proud of the quality of our audit work.

84%

FY23: 85%

The percentage of audit files inspected through Audit Quality Review (AQR), Quality Assurance Department (QAD) and Engagement Compliance Review (ECR) inspection processes that were rated good or limited improvements required (or equivalent rating).

4.6/5

FY23: 4.5/5

The average score audit committees and those charged with governance rated our overall audit quality.

Our Chief Auditor Network

The Chief Auditor Network (CAN) consists of over 90 auditors from across our practice who support our audit teams to deliver high quality work. The purpose of the CAN is to provide real-time, local support to audit teams throughout an engagement.

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30/10/24

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Read the FRC’s findings on key matters relevant to our audit quality

View the FRC’s report

Explore how we’re delivering audit quality

Download a stand-alone PDF of our Audit quality chapter

Explore the full version of the Transparency Report

Download the report

Explore our Transparency Report

Audit quality

Quality is our top priority and we’re committed to delivering consistently high quality audits that meet the needs of investors, the organisations we audit and wider stakeholders.

Find out more

Our audit culture

Culture is really important at PwC and our audit culture is fundamental to high quality. It enables our teams to perform rigorous and challenging audits.

Find out more