10 best practices for valuable audit planning

Benjamin Franklin is credited with saying “If you fail to plan, you are planning to fail!”.

Few people understand this better than auditors, with planning an engagement a key part of our work. However, with the help of the latest technology, there’s so much value that can be achieved during the audit planning process.

In fact, you can transform planning work from satisfying compliance standards to driving the delivery of valuable services.

And when the appropriate focus is dedicated to planning an audit engagement, the experience for both your team and the client are completely transformed. Simply put, it leads to a more effective, higher quality and all-round more valuable engagement.

In this guide [PDF], we’ll walk you through the ten simple changes you can make to the audit planning process that will help deliver more valuable outputs to your clients in less time.

These are:

  1. Tailored information requests
  2. Digital client collaboration and workflow
  3. Access to transactional data
  4. Enhanced preliminary analytics
  5. Scoping and assessing risk
  6. Purpose driven walkthroughs
  7. Front loading testing
  8. Introducing other services
  9. Constructive client interactions
  10. Fees based on value
Download the guide [PDF] to discover how a focus on digital collaboration, a tailored approach and impactful client communications can deliver a new, more valuable experience for you and your clients.

Download the guide [PDF] today.

The health and safety of our employees is of utmost importance to us. Based on government advice, we have decided to activate our Business Continuity Plan in response to the COVID-19 pandemic. This means that for a while, all of our employees will be performing their roles from home.

We’ve always taken Business Continuity very seriously and we regularly assess our measures as required by ISO27001. From the start, we designed Inflo to be flexible and agile – both as an employer to our people and as a partner to our customers. All of our employees use laptops, many usually work from remote locations, and our comprehensive security measures work just as well wherever our employees are located.

The servers that run our application and hold your data are managed by our trusted partner, Microsoft Azure. Our superusers operate this infrastructure remotely under normal circumstances, so we’re used to doing this and won’t need to operate any differently during this crisis.

In summary, while some of us here at Inflo are going to work slightly differently behind the scenes for a while, you can rely on Inflo to operate just as well as we always do.

– Mark Edmondson, CEO and President