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TRANSPARENCY REPORT |
Principal risks facing
RSM UK Audit LLP
The principal risks which could significantly impact
our objectives, professional reputation, and/or
financial strength, are set out in the table below:
Principal risk Risk description Risk trend
Client take on Failure to take on appropriate clients and to commercially assess opportunities
whilst also maintaining excellent client service
No change
Client portfolio Failure to ensure a diverse and targeted client portfolio No change
Quality and
service delivery
Inability to meet audit quality standards impacting client attraction and retention No change
Regulation and
public interest
Acting without appropriate regard for public interest or breaching regulatory
standards, or inability to adapt to regulatory change
Increasing
Legal and
professional
indemnity
Significant commercial litigation and / or uninsured losses resulting in financial
and reputational impact
Increasing
RISK MANAGEMENT