business-mindedness helps you identify risks.
by alan anderson, cpa
transforming audit for the future
i’ve previously described a task i have teams perform at the end of an audit. after everyone shares their insights about what they learned about that client and their operations, i ask everyone to complete this phrase:
“if i were running this business, i would ______________.”
more: are you using the right business model? | give advice while remaining independent | the new formula for an accounting business | don’t risk losing good employees for bad clients | four questions to make your firm more successful as a business | say adios to audit fee pressure | deliver more audit value by getting out of the conference room | six essential elements in audit planning | before the audit: more than just planning | five crucial attributes for successful audit leadership | put the ethics code to work for your clients and your firm | is audit in crisis because of definitions?
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here are a few of the ideas i’ve heard audit teams come up with in that exercise:
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