![\"\"](\"\/\/www.g005e.com\/wp-content\/uploads\/2024\/04\/canva_cpat_auditinsights.jpg\")
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the insights you deliver don\u2019t just add value to the client but also result in a better audit.\u00a0<\/strong><\/p>\n by alan anderson, cpa business owners and organizations typically regard the annual audit as a cost or \u201ca necessary evil\u201d that adds little or no value to the business. in contrast, auditors routinely say that their audit is different and absolutely does add value to the company or organization. to be sure, all audits have a purpose, as they are generally required to maintain financing or to meet regulatory requirements. but is the auditor genuinely adding value?<\/p>\n <\/p>\n there are numerous dictionary definitions of \u201cvalue,\u201d all centering around the concept of something being useful. \u201cadding value\u201d should then mean making something more useful.\u00a0 when you plan an audit, are you thinking of ways to make the audit more for your client? you will only convince your clients that you deliver value when you back up your words with action.<\/p>\n <\/p>\n now think about some of your best clients. there\u2019s probably a direct correlation between the value you bring them when you\u2019re doing the audit and any additional services you render for them. the clearest way to demonstrate value is by making the audit relevant and delivering more than an audit report.<\/p>\n relevance means zeroing in on the intersection of what\u2019s important to you, what your clients are interested in and what benefits stakeholders. the audit becomes valuable for improving your clients\u2019 businesses, allowing the stakeholders to get what they need and making the work more enjoyable for your team.<\/p>\n by taking the opportunity to truly understand your client\u2019s business and going above and beyond the mandatory requirements, you will bring value to the audit. as you gain new insight into the client\u2019s business and operations, you will increasingly add value to the audit. the insights you deliver don\u2019t just add value to the client but also result in a better audit.<\/p>\n think about how you can use technology to deepen your understanding of your client. deepening your understanding is essential if you want to contribute ideas and add value to the audit. it\u2019s essential for bringing relevance into the audit.<\/p>\n add relevance at every step of the audit. when you think of how you perform an audit, you perform distinct activities during the different stages. first, there\u2019s the planning stage, where you set up your game plan for conducting the audit. next is fieldwork, where you gather audit evidence. the wrap-up stage follows, where loose ends are tied up. finally, the audit report is delivered.<\/p>\n as we perform the tasks in each stage, our values of objectivity, independence and professional skepticism are woven throughout. similarly, if you say the audit is relevant, you need to start by weaving relevance into the fabric of your firm\u2019s culture and into all the stages of your audits.<\/p>\n your firm will only create relevance for your clients if your firm\u2019s processes are built on relevance. relevance can\u2019t be just an add-on when you have time. it needs to be part of how your firm approaches all their work.<\/p>\n","protected":false},"excerpt":{"rendered":" the insights you deliver don\u2019t just add value to the client but also result in a better audit.\u00a0<\/strong>
\ntransforming audit for the future<\/a><\/em><\/p>\nmore:<\/b> before the audit: more than just planning <\/a>| are you correctly identifying the relevance intersection?<\/a> | lack of relevance drives audit commoditization<\/a> | five crucial attributes for successful audit leadership<\/a> | traditional audits don\u2019t deserve premium billing<\/a> | four basic understandings every auditor must master<\/a> | put the ethics code to work for your clients and your firm<\/a> | turning audit & accounting into assurance & advisory<\/a> | wanted: great audit mentors<\/a> | is audit in crisis because of definitions?<\/a> | stop sending the wrong message to audit teams<\/a> | closing the audit expectations gap<\/a>
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\nby alan anderson, cpa
\ntransforming audit for the future<\/a><\/em><\/p>\n","protected":false},"author":5075,"featured_media":124692,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[3925,3120],"tags":[4026,2394,4027,3949],"class_list":["post-124691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-audit-assurance","category-pro-member-exclusive","tag-anderson","tag-audit","tag-relevance","tag-transforming-audit-for-the-future"],"acf":[],"yoast_head":"\n