We have hosted two ground-breaking assemblies, which successfully convened and mobilised a diverse community of over 200 professionals from the accounting firms, academia, civil society, businesses, investors. The first AuditFutures assembly demonstrated a clear need for change in audit that will best serve society, and further outlined the areas where innovation is essential. The second assembly took the discussion to the next level, as we focused on more specific ideas for innovations and the role of the profession in rebuilding public trust.
By methodically distilling the insights from the two assemblies and from the consultations with diverse group of stakeholders, we have better understanding of what should be the target areas of systemic change in audit. Accordingly, we have built a model of the spectrum of innovation needed based on the four areas of: the role of audit in society, the structure of audit institutions, the relevance of information, and the behaviour of people in audit. We are now implementing projects and programmes in these areas and expanding our international influence.