KPMG has released its 2024 Hong Kong Audit Quality Report, underscoring the firm’s strategic commitment to audit integrity, technological innovation, and evolving stakeholder expectations as it marks 80 years of operations in the city.
The report details initiatives aimed at enhancing audit quality through a multi-pronged approach, including the integration of advanced technology, deeper investment in environmental, social and governance (ESG) assurance, and a stronger emphasis on talent development.
KPMG has positioned audit quality as a central pillar of its operations, aligning with its long-term goal of being the most trusted professional services firm in the market.
A key highlight of this year’s report is the adoption of the KPMG Trusted AI framework, which governs the responsible and transparent deployment of artificial intelligence within audit practices.
The rollout of generative AI tools embedded in the firm’s KPMG Clara platform provides auditors with real-time risk assessments and streamlined workflows, aiming to raise the consistency and speed of audit delivery while maintaining rigorous standards.
In parallel, the firm is expanding its ESG assurance capabilities to meet growing market demand. Updated methodologies now align more closely with international reporting standards, providing clients with more robust sustainability disclosures and helping them meet the expectations of regulators, investors, and the broader public.
The report also outlines continued efforts to support staff through upskilling programs, mental health initiatives, and career development frameworks.
KPMG has implemented stronger quality monitoring systems, including root cause analysis and targeted improvement plans, to foster a culture of continuous learning and accountability.
With the 2024 Audit Quality Report, KPMG signals its intent to evolve in step with a rapidly transforming business environment, reinforcing public trust through innovation, integrity, and professional excellence.
Business News Asia