We would hope that all audits carried out by all registered auditors are as reliable as each other. Generally, experience confirms this. The question might therefore be rephrased as: “Do some audits offer better value for money than others?”
To this we can definitely say “yes”! There are two reasons why:
- Some auditors are more efficient than others; and,
- Some auditors apply their knowledge better than others.
We like to think we do both. Certainly our clients tell us we do.
Audit efficiency
An efficient auditor deals with those areas which are important to the audit – the ones which might make a difference to how he reports. An inefficient auditor wastes time worrying about things that will make no difference to the accounts.
An efficient audit process is focused around collaboration and using technology like Microsoft Teams and Caseware Cloud or our secure dedicated Client Portal for file sharing.
An efficient auditor will tailor to your audit process with timelines and visits to work around what you have going on already. We work with business of all sizes across multiple sectors, so we’ll recognise your challenges and where we can help the most. We’ll also talk with one point of contact or multiple team members.
An efficient auditor prepares by getting to know you, understanding your needs, so that during his audit he can focus his attention on matters that matter to the company, rather than matters that are of little interest to you.
Applying knowledge
No outsider will get to know your company as well as your auditor. There are rules that prevent an auditor getting involved in running your company, but there is nothing to stop an auditor advising you on the matters that come to his attention for the benefit of the company. And who better to help you solve the problems your company faces than the people who have just gone through the transactions for the last year and know exactly what is happening with your company?
To find out more, call us on +44 (0)330 024 3200 and speak to one of our audit experts.