Improved confidence and increased expectations.
The debate about responsible reporting has not been sidelined by the COVID-19 pandemic. In fact, the future of audit—and how it should adapt to changing stakeholder demands—has only grown in importance as financial reporting ecosystem participants consider how to deliver reporting that provides the insights for businesses and investors to recover and thrive.
To inform this debate, Deloitte Global surveyed 351 c-suite, finance and audit committee executives, investors, shareholders and board members across nine countries from a broad spectrum of company sizes (revenues ranging from US$500 million to US$10 billion or more) to better understand the value they place on financial statement audits. The survey, which was conducted in April and May 2020 at the height of the initial global response to COVID-19, shows that even within the economic turmoil of the pandemic, market participants place great value on audits and the assurance that they provide.