| TRANSPARENCY REPORT
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Mitigation
● client and engagement acceptance procedures, including
Anti Money Laundering, independence, commercials,
and conflicts policy requirements - supported by firm
wide tools
● procedures for identifying high risk clients and those
requiring upward referral and Board approvals
● training and awareness programme including client
acceptance, professional ethics, Ethical Standards,
and independence
● prohibited client list and prior AMT/Audit Management
Board approval for PIE audit tenders / re-acceptance
● client and engagement acceptance procedures
● local and global tender process management
● client and partner portfolio reviews
● sector reviews
● global audit methodology and risk management policies
● policies, procedures, and training on audit quality and
independence
● Engagement Quality Control Review processes
● quality team reviews, and RSM International quality reviews
● Authorised Individuals for listed / non-listed clients
● access to the National Audit Technical team
● client service review programme - Voice of Client
● extensive and regular training to all staff
● established processes and procedures requiring
compliance with applicable laws and regulations, and
independent monitoring of such compliance
● external monitoring by the FRC and ICAS
● Ethics Partner supported by an ethics team and a culture
of ethical behaviour underpinned by regular training
● participation in market reviews, monitoring regulatory
developments, and establishment of BEIS consultation
working group
● audit quality and whistleblowing hotlines
● application of quality and risk management processes
● in house legal team
● engagement and client reporting protocols
● professional indemnity insurance
RISK MANAGEMENT