A string of high-profile corporate failures and frauds in Asia has called into question the role of the auditors and prompted calls for the profession to be reformed. This falls in line with a global trend of audit reform and a need to adapt to the changing requirements of corporates.

Global challenges — from the pandemic to climate change — have underscored the importance of creating a more sustainable world. As governments seek to address environmental and social issues, however, they face a crisis of trust. And that lack of trust threatens the key resource at any government’s...