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Audit quality indicators

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Indicator

NBA reference

Performance 2020/2021

Performance 2019/2020

GPS and Pulse survey results related to coaching and audit quality

AQI 6.a

90%

87%

Culture survey

AQI 6.b

65%[1]

79%

Investments in development of new audit technologies and tools

AQI 3

3%

2%

Hours spent by partners on PIE engagements

AQI 1.a

8%

9%

Hours spent by partners on non-PIE engagements

AQI 1.b

7%

7%

Hours spent by IT and other specialists on PIE engagements

AQI 11.a

16%

16%

Hours spent by IT and other specialists on non-PIE engagements

AQI 11.b

5%

6%

Chargeable hours (as % of total hours worked)

AQI 2

64%

62%

Retention of audit professionals

AQI 5

87%

88%

Average training hours for each audit professional

AQI 4

214

196

Technical resources support (as % of total assurance FTEs)

AQI 7

7%

7%

Technical consultations (as % of all engagements)

AQI 8

14%

16%

Percentage of engagements involving EQCRs[2]

AQI 9

31%

30%

Hours spent on EQCRs (as % of total hours)

AQI 10

1%

1%

Number of restatements (as % based on auditor’s reports issued)

AQI 14

1%

2%

Result of external inspections

AQI 12.a

100%[3]

NA

Result of internal inspections (% satisfactory rating) [4]

AQI 12.b

84%

78%

Independence violations

AQI 13

0.8%

0.4%

  • 1 This figure is not directly comparable to the previous year because of a change in methodology.
  • 2 The number of engagements during the year does not necessarily equate to the number of reports. An engagement may result in multiple reports. Moreover, reports may not be produced for engagements still active at the end of the financial year.
  • 3 Read more about these inspections on the website of the AFM.
  • 4 For more information about these Assurance Quality Performance Reviews, please see section Continuously improving quality.

The AQI table has been prepared in accordance with the guidelines from the NBA, the Royal Netherlands Institute of Chartered Accountants (or in Dutch: Koninklijke Nederlandse Beroepsorganisatie van Accountants). All figures have been rounded to the nearest percentage.  

Abbreviations:
EQCR – Engagement Quality Control Review(er)
FTE – Full-time equivalent
GPS – Global People Survey
NA - not applicable
NBA – Royal Netherlands Institute of Chartered Accountants
PIE – Public Interest Entity Public according to Dutch law

All abbreviations used in this report may be found in the Appendix. 

Note on AQIs
In 2020, the Dutch government appointed two quartermasters to oversee reform in the audit & accountancy sector. As part of their work, these quartermasters have been drafting common standards for measuring audit quality, applicable across the industry. We support the introduction of common standards; we believe such standards will increase transparency and help build public trust. The two quartermasters have a three-and-a-half-year mandate to oversee reform in the sector. See KPMG N.V.’s website for further details and our response to the public consulations on this matter.