PwC Laos Transparency Report 2023

PwC Laos Transparency Report 2023

Delivering quality audits is core to our purpose. We take any instance of audit deficiencies seriously and we work hard to quickly understand and remediate the impacts of the issue, analyse the root cause, learn lessons and take the opportunity to enhance the quality of future audits. We reflect the importance of quality – both quality outcomes and quality behaviours – in the evaluation, recognition and accountability of the relevant partner and country and assurance leader. Audit quality is the most important factor in performance evaluation and career progression decisions for both our partner and staff.

To maintain the quality of our work, we use a quality management framework based on clear objectives around audit quality. We deliver high-quality audit services through access to the necessary capabilities in terms of both people and technology. That’s why our quality objectives focus on having the right capabilities – and on using these capabilities to meet our own standards and applicable professional requirements.

These capabilities are best developed and used within a culture of quality in which leaders set the right tone and are role models for our values, starting by acting with integrity. We continuously enhance our guidance and update our tools to support our engagement teams in addressing new and emerging risks and requirements as part of our audits.