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Driving quality improvement – Setting the right tone at the top for performing an effective root cause analysis and remediation
31 Dec, 2024

The Accounting and Financial Reporting Council (AFRC) today has published a report, “Inspection Insights – Root Cause Analysis and Remediation: A Call to Action for Quality Improvement” (the Insights).

 

The Insights share our observations on how PIE auditors, subject to our 2023 inspections, had performed root cause analysis (RCA) of the identified deficiencies and responded by designing and implementing remedial actions.  It is observed that firms with proactive leadership are more pronounced in fostering a culture of continuous improvement and thus have invested more time and resources in developing a quality remediation plan. 

 

For details, please click here.