Transparency Report 2024

For over 150 years, KPMG has been a leader in delivering audit and assurance services that are essential to the successful working of the capital markets. The quality of our audit and assurance engagements remains our top priority with a commitment across the organization to serve our clients, stakeholders and the public with the highest professional excellence, ethics and integrity.

The world is changing rapidly. Organizations are facing growing and complex challenges requiring new levels of transparency in business governance, organizational structures and sustainability practices driven by new technologies, regulations and societal expectations. It’s a moment that demands new levels of trust in disclosure and decision-making. This makes our role in serving the public interest more important than ever.

As a leading professional services firm in Canada, we have a deep responsibility to many stakeholders. We are focused on navigating change while enhancing trust and transparency for all of those invested in our capital markets including investors, employees, regulators and businesses. That puts quality at the core of everything we do. It is also why we’re working hard to transform the audit experience to meet the growing needs of stakeholders in a changing world.

We are transforming to best support the audits of today – and tomorrow. We are investing meaningfully in our people, culture, and training to support the future of audit and assurance. We are approaching our audits differently and harnessing the power of AI-driven technology to more deeply identify and understand risks to audit quality. We are also investing in the technology and processes that create the foundation for an even stronger system of quality management across our firm.

Quality starts and ends with our people who are deeply committed to acting with integrity and doing the right thing. It is our people who make the difference. As organizations become increasingly complex, we firmly believe that the capital markets benefit from our ability to bring the best minds and specialized skills from across our firm to deliver assurance on the largest and most challenging engagements.

We have set a high bar. Where we find gaps, we are identifying them and addressing them. We apply the same rigour, transparency, and accountability to ourselves as we do to the organizations we audit. That is the purpose of this report.

We trust you will find our 2024 Transparency Report clearly demonstrates our abiding focus on audit quality and our commitment to continuous dialogue and efforts to advance initiatives that drive positive change and uphold confidence in the capital markets we serve.