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As KPMG audit professionals, our commitment

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to objectivity and independence is crucial for maintaining

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the quality and credibility of our work and directly impacts

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our ability to issue independent auditors’ reports. While

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helping to drive quality growth, we all must comply with the

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applicable independence professional standards, laws and

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regulations, fulfilling our professional responsibilities to

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protect the public interest and the capital markets we

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serve. Additionally, we must continue to conduct thorough

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evaluations of independence, even in the context of existing

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audit relationships, to mitigate risks and uphold the

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integrity of our audits.

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Understanding independence rules and procedures is essential

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to perform audits that are in compliance with AICPA, SEC,

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PCAOB and IESBA rules. Compliance with all applicable

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independence requirements, including the SEC’s general

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standard of independence, is essential. This includes our

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responsibility for determining that the services being

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provided to, and our relationships with, audit clients

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conform with the independence rules. This requires diligence

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in reviewing audit and non-audit service Sentinel requests

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for audit clients and their affiliates, making required

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communications with the Audit Committee, and obtaining their

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pre-approval and concurrence, when required. We must be

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diligent in performing all independence procedures with

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Excellence and reinforce with our teams and our audit

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clients the importance of maintaining independence.

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If we are unsure about an independence matter, it is

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important to promptly consult with the Independence Group.