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Audit
Credible financial information is fundamental to establishing the confidence of and access to capital markets. An audit underpins credible financial information. This is the value of an audit.
Recent events, however, mean that audits cannot be perceived as being routine, annual exercises merely required by statute.
Stakeholders require responsible and objective judgements from independent auditors.
A deep knowledge of business, business risks, financial reporting principles and regulatory requirements, as well an understanding of complex business systems, processes and controls is also important. Moreover, auditors' judgements must be rooted in professional integrity as well as an in-depth understanding of each client's industry value drivers, competitive positioning and marketplace practice.
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