Monitoring

Monitoring our performance and the effectiveness of actions we take to improve our performance are key elements in our system of quality control. Our monitoring programs help us assess the quality of our work. They also help us take action more quickly and effectively when needed. In addition, we monitor trends in restatement activity and our compliance with independence requirements.

The results of our monitoring provide us with a basis to conclude that our quality control system and practices meet professional standards and regulatory requirements.

Pre-issuance and post-issuance reviews

In 2016, we will perform 60 of reviews of public company audits before we issue an auditor's report to help us assess how our teams are using the guidance and tools we've deployed. We also inspect engagements after we issue our auditor's report. This year, we conducted 170 of these post-issuance inspections.

Independence monitoring

We test compliance with our personal independence confirmation requirements and with our requirement that managers through partners record securities and other financial interests they and their immediate family members hold in our Global Monitoring System.