I would like to congratulate my colleague Bob Dohrer, Global Leader for Quality and Risk for RSM, who has been re-elected as Chairman of the Forum of Firms (FoF). Bob’s second term as Chair of the Forum will run for three years.
The FoF, of which RSM is an original full member, was established in 2002 and aims to promote international standards including quality control, auditing, ethics and independence and training standards, laid down by IFAC standard-setting bodies.
Being a member of the Forum is critical as RSM and our member firms continue to focus on promoting high quality standards of financial reporting and audits worldwide. And, as Bob pointed out at a panel discussion earlier this year and hosted by the International Accounting Bulletin, the organisational structure of networks has a direct bearing on audit quality. RSM has rigorous quality control standards that must be met by member firms, and we are keen to ensure the same level of rigour applies across the entire profession to the benefit of the public interest.
Recently, regulators and other stakeholders from around the world have called for a number of proposals aimed at increasing auditor independence, raising audit quality and enhancing auditor reporting. Bob cares passionately about standards, and is dedicated to improving audit quality. I know that with Bob as FoF Chairman, the objective of improving and ensuring consistent standards will continue to advance.