Join BDO's Center for Corporate Governance Amy Rojik as she discusses drivers of audit quality underlying high quality financial reporting that audit committees, management and users of financial statements can trust in with the leaders of BDO Assurance and Audit practices Christopher Tower and Phillip Austin.Key TakeawaysAudit committees are encouraged to understand how their auditors define audit quality and relevant audit quality indicators across a framework that considers people, process and technology to respond in real-time and achieve desired outcomesAudit committee engagement with auditors can be enhanced by:Asking for more time with auditorsTaking advantage of educational opportunities and timely insight guidanceEngaging in meaningful commentary on observations noted in the auditHaving proactive discussions around areas of significant audit focus, Critical Audit Matters and risk, including potential fraud or illegal actsUnderstanding how the auditor is engaged across the profession and with regulators and standard settersInquiring about the depth of support from centralized resources in the FirmRequesting candid observations about adequacy and quality of the accounting and finance functions within the clients’ organizationManagement and the audit committee can expect the future of audit will require:Auditors who are focused on greatest measurement and disclosure risks to the companyAuditors who are “current” and bring insights based on specialized expertise to bear based on your circumstancesPredictable audit work methods that aren’t disruptive of management operationsWe invite you to visit our current BDO Audit Quality Report – Continuing to Build Trust.

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