Beyond Audit. Robert L. Mainardi

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Название Beyond Audit
Автор произведения Robert L. Mainardi
Жанр Бухучет, налогообложение, аудит
Серия
Издательство Бухучет, налогообложение, аудит
Год выпуска 0
isbn 9781119789611



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as mandated by the audit charter and the audit committee. And while this is true, the charter or committee documentation does not mandate the specifics regarding delivery of the requested data or information.

      As every auditor will tell you, the work is never completed as quickly as they would like it. Time is one of the only commodities that no one can get more of – no matter what your position, job, or financial standings. There is nowhere to buy more time, not even on Amazon. If there was an option, everyone would take it. So, in the absence of being able to purchase more time, how do auditors go about getting the information? The key is and always will be their communication skills and relationship building. Remember, it was previously mentioned that the relationship strength is how you unlock the key to information. That strength will be based on the level of trust and experience your client has had with you during previous audit engagements. Here is the best explanation regarding the internal auditor and business partner relationship that provides the most effective illustration of the need for constant focus and development of a successful working relationship.

      Now flip the question around. Could the business team do their job and complete their assigned responsibilities without internal audit involvement? The unfortunate answer to that question is yes. Absolutely, without a doubt, the business team could do their job with no internal audit help or intervention. If you asked the business process workers, they would all probably say their preference would be to perform their day-to-day responsibilities and activities without having to deal with anyone from audit. The business teams view internal audit as a nuisance, a bother, and an unnecessary interruption to their work. So, if the business team prefers no outside audit interference, how are auditors to go about breaking down the preexisting barrier that has been in existence forever? The answer is, through a dedicated effort on the part of the auditors to constantly be focused on the relationship.

      A critical point that must be emphasized here is being prepared. You can never be too prepared for a meeting. Believe me, I know all the excuses for not preparing effectively for a meeting. You could say, I do not want to prepare too much because it will come off disingenuous. That is false. Being prepared does not mean to memorize what you are going to say. If you memorize what you want to say it will come off as fake and robotic. However, if you prepare effectively, it will show you are committed to the topic, understand the details, know where the data originated, and can effectively explain questions regarding the subject matter. If you do not adequately prepare, how will you know when to stop asking questions or when you have the information or data required? The keys to effective preparation for any meeting with a client are understanding the meeting objective and mastering the data to be discussed. With these two keys, any auditor can effectively and confidently communicate with the business partner. So, let's touch on both, briefly, to ensure everyone is on the same page.

      Starting the meeting by stating the specific objective creates that sense of purpose and communicates to your business partner the need for attending. Once the objective is clear, the discussion and questions that follow must link to the specific meeting objective that was explained at the beginning. This understanding of meeting purpose focuses the auditor and helps direct the conversation in a positive direction to the outcome. At the end of the meeting, there is a sense of conclusion for the information needed as well as completion for that part of the audit. That sense of accomplishment, even the smallest achievements, make a positive impact on your business partner as they see a focused audit team effectively using time to complete the tasks at hand. Additionally, the auditor and audit team project a confident, unified approach as they execute their audit methodology.