System of Quality Management

• Risk assessment: setting quality objectives, identifying and assessing quality risks, and designing responses that address those risks.
• Governance and leadership: establishing accountability for quality, promoting the required culture and incorporating quality into strategic and operational decisions.
• Relevant ethical requirements: supporting compliance with independence, integrity, objectivity, professional competence and due care, confidentiality and professional behaviour requirements.
• Acceptance and continuance: considering the nature of engagements, relevant information about clients and our ability to perform the work in accordance with professional and ethical obligations.
• Engagement performance: supporting direction, supervision, review, consultation, resolution of differences of opinion and appropriate documentation of the work performed.
• Resources: obtaining, developing and allocating appropriate people, technology and intellectual resources, with sufficient time and competence for the work.
• Information and communication: ensuring relevant and reliable information reaches the people who need it to fulfil their quality responsibilities, including appropriate communication outside the firm.
• Monitoring and remediation: identifying and evaluating findings, assessing deficiencies, investigating their causes and implementing and evaluating remedial actions.

The SOQM is evaluated at least annually to determine whether it provides reasonable assurance that its objectives are being achieved. That evaluation considers monitoring results, identified deficiencies and the remedial actions taken. It informs further action and communication to the people responsible for quality across the firm.

Our Audit Quality Programme supports the continuing development of the SOQM and engagement quality. Together, they connect the firm's quality commitments with practical actions, accountable owners and assessment of results.