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create a culture of audit quality assurance

by

man in office writing notes at desk

get a better result in less time.

by alan anderson, cpa
transforming audit for the future

for way too long, many firm leaders have equated quality in their audits with making it through the peer review process. peer review is important, but making quality all about that is like the american car executives whose production lines needed a guy with a rubber mallet at the end of the production line to make sure the door fit right. that’s quality control.

more: what quality in audit leadership means | business-minded approach helps build a better firm | are you looking at the big picture? | meet your client all year, not just during audit | give your audit teams tasks that increase business acumen | are you using the right business model? | give advice while remaining independent | stop mixing up your v’s and losing your best people | empower your team by dumping c and d clients | the new formula for an accounting business | how to upgrade c and d clients | eleven types of audit clients and which to fire | don’t risk losing good employees for bad clients | can a service center model solve audit staffing shortages? | don’t take on audits in an industry you don’t understand
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

quality assurance is making the guy with the rubber mallet irrelevant. the first-time right mindset is taking the japanese approach and making sure the door is designed so it fits correctly from the beginning.

quality control is at the end. quality assurance starts at the beginning and continues throughout the entire process. it’s not a one-time event.
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business model evolution accelerates

by

two men talking in an office

change is needed in mindset and skillset.

by scott moore
the rosenberg national survey of cpa firm statistics

leading firms will continue to proactively evolve their business models to include more digital process automation, bundling of services with subscription-style pricing, strategic outsourcing, and upscaling of talent along the client value continuum.

editor’s note: every year, the 2024 rosenberg national survey of cpa firm statistics asks the profession’s top consultants two sets of questions:

    • how do you think the next 12 months will unfold? trends? predictions? other thoughts?
    • how would you assess the last 12 months? trends? observations? struggles?

more: accounting firms must consider capital resources | firms not keeping all their clients | accounting still short on staff and students | artificial intelligence plays role in analytics, optimization | challenges for the accounting profession: private equity, offshoring, training new hires | recalibration is key for accounting profession | people development still a concern | focus on intentional growth | accounting firms upshift to corporate model | tech anxiety paralyzing some accounting firms | what’s going to happen? lots, say consultants | growth and complacency must concern accounting firms this year | solving staffing requires intention | how accounting firms are handling the staff shortage
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

this will set the pace for the profession as a whole, as more firms follow suit in these areas in their efforts to keep up with client expectations and market dynamics. an increase in m&a activity and consolidation will increase this effect, as strategic investments target firms with the highest potential to achieve maximum market value.
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