Thursday, March 27, 2008

Common Auditing Screw-ups


A new survey collects Big Four auditors' honest appraisals of their clients' shortcomings.

We recently asked 172 partners at the Big Four firms across Europe for their honest appraisal of their clients' biggest shortcomings. Fix these problems, auditors say, and audits will go more smoothly, relationships with auditors will improve and, possibly, fees will fall. The best comments are below. Which apply to you and your company?
  • Time trials
  • Broken relationships
  • Governance gaps
  • Process problems
  • Poor preparation
  • Value judgements
  • Lack of awareness

See full Article.