The last year has been one of extreme turbulence in the business environment, and, as I said at the beginning of this report, I am extremely proud of the way that the Board, Technical staff and Business services have stepped up to the challenges that this environment has presented for the AUASB. While we have been extremely proactive to date, we will continue to provide appropriate guidance where we see a need. We also have a number of challenges which we will address during 2021, including the final recommendations of the PJC inquiry into audit quality. We will continue to actively contribute to the International Standard-Setting process, and we will further develop our collaborations with other NAASS and our research initiatives. I also look forward to further enhancing our relationships with the AASB and ASIC. We will continue undertaking appropriate evidence-informing practices to support our strategic objectives, including our thought leadership role on assurance for information disclosed outside the financial report.

We will also continue to work on audit quality initiatives across our portfolio, including for those very complex audits ranging down to the less complex audits. As part of our approach to enhancing audit quality and also our communications strategy and commitment to meeting stakeholder expectations, we are also designing a new pronouncements search portal to meet modern standards and expectations, including a cleaner User Interface, an improved User Experience, and cross-device optimisation for tablet and mobile. We will also continue working with ASIC and auditors to identify areas where we may assist with interpretation and compliance with our Auditing Standards.