Helping to sustainably improve audit quality

The audit profession is always on the move. This can, for example, be attributed to changing laws and regulations, as well as changing public expectations in fields such as sustainability, fraud and continuity. PwC wants to help sustainably improve audit quality. We thus examine how things can be improved or done differently, and talk about this with our stakeholders.

Provide insight through Audit Quality Indicators

We believe it is important to provide our stakeholders with insight into the quality of our audits. Therefore, since 2024, we have been voluntarily reporting on the so-called ‘Audit Quality Indicators’ (AQIs) in our our transparency report. These quality indicators have been developed within the sector in recent years at the request of the Minister of Finance. When the ‘Wijzigingswet Accountancysector’ (Amendment Act on the Audit Sector) comes into force, reporting on these AQIs will be mandatory for all audit firms holding a licence to perform statutory audits for public interest entities

Sustainability legislation in motion

Sustainability legislation continues to evolve. The European Commission has proposed a set of amendments regarding sustainability reporting through the ‘Omnibus’ initiative. This includes changes to the content and timing of the CSRD. The CSRD still needs to be incorporated into Dutch legislation through the ‘Wetsvoorstel implementatie richtlijn duurzaamheidsrapportering’ (Draft bill for the implementation of the sustainability reporting directive). We are engaging in conversations with our stakeholders about these developments. We advocate for clarity for companies and accountants. At the same time, we continue to guide ourselves and our clients in their sustainable transitions.

PwC expresses concerns about timely CSRD implementation

PwC's audit practice has sent a 'client warning letter' to audit clients who must report under the CSRD for the first time in 2025, expressing concerns about the timely implementation of the CSRD by these clients. After informing the clients, PwC also made this letter public to send a strong signal to the general business community and society.

Response PwC to updating the Corporate Governance Code

The Dutch Corporate Governance Code contains principles and best practice provisions aimed at promoting good governance at listed companies. The Code was updated in 2022. PwC indicated in its response to the proposed update that it is important for the Code to stay ahead of societal developments. We also touched upon four topics that we believe would deserve a (more explicit) place in an updated Code: the role of the audit committee, the chain of responsibility, diversity and tax governance.

Read what else PwC does in the area of corporate governance.

Work groups NBA

PwC is also actively helping to improve the future of the audit profession via The Royal Netherlands Institute of Chartered Accountants (NBA). For instance, Wytse van der Molen - who is chairman of the assurance practice at PwC - is a member of the Public Interest Steering Group and PwC professionals take part in various work groups.

PwC reactions to consultations European Commission

The audit profession is always on the move. For example, in recent years, we have witnessed developments in the field of sustainability and assurance for non-financial information. These developments are partly being shaped by the European Commission (EC) by modifying existing guidelines or developing new guidelines. PwC has responded to several consultations by the European Commission.