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2019 Transparency Report Deloitte Audit September 2019 Audit & Assurance Contents

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2019 Transparency Report Deloitte Audit September 2019 Audit & Assurance Contents 2019 Transparency Report Deloitte Audit September 2019 Audit & Assurance Contents Leadership message 03 Deloitte network 05 Our purpose and commitment: audit quality 09 Engagement performance 14 External and internal audit quality monitoring 17 Independence, ethics, and additional disclosures 21 Appendix A | EU/EEA audit firms 28 Appendix B | Financial information 30 Appendix C | Public interest entities 31 2019 Transparency Report | Leadership message Leadership message1 John Psaila, Chief Executive Officer - Managing Partner Christiane Chadoeuf, Audit & Assurance Business Leader On behalf of Deloitte Audit, société à responsabilité limitée, an approved audit firm in Luxembourg (cabinet de révision agréé), we are pleased to present the tenth edition of our annual Transparency Report. This report refers to the financial year ended on 31 May 2019 and has been prepared pursuant to Article 13 of the Regulation (EU) N° 537/2014 of the European Parliament and of the Council of 16 April 2014 on specific requirements regarding statutory audit of public-interest entities (the "EU Audit Regulation") and in accordance with the Luxembourg Law of 23 July 2016 concerning the audit profession. Audit practice is about so much more than numbers—it is about ensuring quality and instilling trust. It helps assure stakeholders that businesses are aspiring to the high standards that contribute to a strong and sound economy. It also explains to clients the positioning they have today, so that they can build on a foundation of strength for the future. Year after year, we raise the standards of quality to serve the public interest and deliver confidence around the questions that matter most to all our stakeholders. In an increasingly complex world, we understand that the greatest challenge is always the next one. Accordingly, we aim to provide guidance and sound judgments by bringing continual enhancements to how we perform a Deloitte audit. This means constantly transforming our business by defining consistent, smarter ways of working, while remaining true to the core values that makes us who we are. We are proud and honored to be able to present this report attesting to our commitment to audit quality and our unwavering culture of integrity, professional excellence, and accountability that guides our profession and underpins our organization. The present Tranparency Report is issued in Luxembourg on 27 September 2019 on behalf of Deloitte Audit as duly represented by: John Psaila Christiane Chadoeuf Chief Executive Officer - Managing Partner Audit & Assurance Business Leader Deloitte Luxembourg Group Deloitte Audit 1 Throughout this report, the terms “Deloitte, we, us, and our” refer to one or more of Deloitte Touche Tohmatsu Limited, its network of member firms, and their related entities. For more information about the Deloitte network, please see p. 5 or https://www2.deloitte.com/global/en/pages/about-deloitte/articles/about-deloitte.html. 03 04 2019 Transparency Report | Deloitte Network Deloitte network Deloitte Audit: legal structure France), is a shareholder in Deloitte DCE Network description and ownership GmbH (“DCE”). The object of DCE is the The Deloitte network Deloitte Audit, société à responsabilité fostering of the collaboration among its The Deloitte network is a globally limitée is a private limited liability shareholders as members of the global connected network of member firms and company under Luxembourg Deloitte network. DCE neither provides their affiliates operating in more than 150 laws, having its registered office at any professional services nor engages in countries and territories across the world. 20, Boulevard de Kockelscheuer, commercial activities. These separate and independent member L-1821 Luxembourg, Grand Duchy firms operate under a common brand. of Luxembourg and registered with DTT holds practice rights to provide the Luxembourg Trade and Register professional services using the “Deloitte” Company under number B 67895. name which it extends to Deloitte Professional Deloitte Audit is connected to the entities within Luxembourg, including standards Deloitte network through DELOITTE Deloitte Audit. Deloitte Audit is approved TOUCHE TOHMATSU, société à to serve as audit firm for companies in responsabilité limitée, abbreviated “DTT”, Luxembourg and abroad. a company having its registered office Deloitte Audit is an approved audit at 20, Boulevard de Kockelscheuer, Shared values L-1821 Luxembourg, Grand Duchy firm (cabinet de révision agréé) under of Luxembourg and registered the supersivion of the Commission with the Luxembourg Trade and de Surveillance du Secteur Financier. Companies Register under number Deloitte Audit is also registered with the B 60927, a member firm of Deloitte PCAOB (the Public Company Accounting Touche Tohmatsu Limited. Deloitte Oversight Board) and with the JFSA (the Audit, société à responsabilité limitée is Japan Financial Services Authority). Methodologies referred to throughout this report as The share capital of Deloitte Audit “Deloitte Audit”, and DELOITTE TOUCHE amounts to €35,000. 51% of the capital TOHMATSU, société à responsabilité and voting rights of Deloitte Audit is held limitée is referred to throughout this by aproved statutory auditors (réviseurs report as “DTT”. d’entreprises agréés) and 49% by DTT. Systems of quality control & risk DTT together with Deloitte GmbH Within Deloitte Audit, Partners are management Wirtschaftsprüfungsgesellschaft natural persons employed by Deloitte (Deloitte Germany), Deloitte Audit Audit with the grade of Partner Wirtschaftsprüfungs GMBH (Deloitte (“Partners”). Equity Partners of Deloitte Austria), Deloitte Central Europe Audit are those Partners who are Holdings Limited (Deloitte Central furthermore shareholders of DTT Europe) and Deloitte SAS (Deloitte (Equity Partners). 05 2019 Transparency Report | Deloitte Network Deloitte Touche Tohmatsu Limited direct, manage, control or own any interest or the “Firm”) which refers to the group of (DTTL or Deloitte Global) in any member firm or any member firm’s operational subsidiaries of DTT. Deloitte Touche Tohmatsu Limited is a UK affiliated entities. private company limited by guarantee. DTT is exclusively owned by shareholders DTTL serves a coordinating role for its For more information about the Deloitte who are individuals. The Deloitte member firms and their affiliates by network, please see: About Deloitte. Luxembourg Group is managed by a Chief requiring adherence to policies and Executive Officer elected by the Partners protocols with the objective of promoting Deloitte Audit: governance – for a term of four years and by an Executive a consistently high level of quality, leadership in action Committee composed of Equity Partners professional conduct and service across Deloitte Audit is part of the Deloitte representing the main functions existing the Deloitte network. DTTL does not Luxembourg group (hereinafter referred within the Deloitte Luxembourg Group. provide professional services to clients, or to as “the Deloitte Luxembourg Group” The following are the members of the Deloitte Luxembourg Group Executive Committee: Deloitte Luxembourg Group – Executive Committee: John PSAILA Vincent GOUVERNEUR Sophie MITCHELL Chief Executive Officer Managed Services and Operations Leader Managing Partner Transformation Leader Stephan TILQUIN Christiane CHADOEUF Raymond KRAWCZYKOWSKI Talent Leader Audit & Assurance Business Leader Tax Business Leader Joel VANOVERSCHELDE Benjamin COLLETTE Patrick LAURENT Advisory and Consulting Strategy, Clients & Industries Leader Technology & Innovation Leader Business Leader Bernard DAVID Jérôme LECOQ Cross-Border Relations Leader Reputation and Risk Leader John Psaila Christiane Chadoeuf Benjamin Collette Bernard David Vincent Gouverneur Raymond Krawczykowski Chief Executive Officer Audit & Assurance Strategy, Clients & Cross-Border Managed Services and Tax Business Leader Managing Partner Business Leader Industries Leader Relations Leader Transformation Leader Patrick Laurent Jerome Lecoq Sopgie Mitchell Stephan Tilquin Joel Vanoverschelde Technology & Reputation and Operations Leader Talent Leader ACG Business Leader Innovation Leader Risk Leader 06 2019 Transparency Report | Deloitte Network The Deloitte Luxembourg Group provides Deloitte Audit is governed by a Board of overarching objective of audit quality, a range of services including audit, tax, Managers appointed by the shareholders’ including compliance with applicable financial advisory, risk advisory, and meeting and composed of approved professional standards and regulatory consulting services. statutory auditors (réviseurs d’entreprises requirements. agréés) and supported by the Audit The Deloitte Luxembourg Group also Executive Committee that consists of Approved audit firm of Deloitte Audit has an oversight body (the Supervisory Partners representing key streams The approved audit firm auditing Deloitte Board). The Supervisory Board can have necessary for the robust functioning of Audit is BDO Audit, société anonyme, with a maximum of eight members and is the Audit and Assurance practice; Clients its registered office at L-2350 Luxembourg, currently composed of eight members & Industries, Talent, Technology and 1 rue Jean Piret and registered with elected among and by the Equity Partners. Innovation, Risk and Quality. The Board of the Luxembourg Trade and Companies The primary role of the Supervisory Board Managers is responsible for the governance Register under number B-147.570. is to act
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