Welcome to this year’s Engagement Independence course.
Independence is foundational to audit quality.
Our regulators have continued to focus on the critical
importance of independence, including consideration of the
SEC General Standard of Independence.
We maintain a system of quality control to comply with our
independence obligations, in both fact and in appearance.
This training is an important element of that system of
quality control, to help you understand your role in
maintaining the firm’s independence on your engagements.
A significant update impacting our audits this year is the
implementation of revised standards on group audits. While
not covered in this course, training on the independence
implications of these standards is an important part of the
group audits curriculum.
Thank you for your time and attention to this training.
Recognizing the importance of independence, and being
diligent in performing necessary independence procedures,
helps us in maintaining the integrity of our audits and the
protection of the markets we serve.