Audit Execution Top Tips – Debrief
In the spirit of continual improvement, there are always lessons to be learned and benefits to be gained from debriefing an audit engagement. While many teams focus internally on execution effectiveness, involving the client in the debrief process demonstrates the investment in improving the whole audit experience.
Metadata regarding engagement performance can provide important insights regarding where delays were experienced, which areas were the most challenging during the audit and how work could be rephased.
As firms increase their use of technology, the client debrief can collate valuable feedback as to where clients benefited from new approaches and how to progress future use.
New outputs and alternative approaches can also be discussed. This introduces new ideas and ways of working together, such as providing analytics-as-a-service throughout the year (often a quarterly or monthly basis), or even a more continuous audit approach. This focuses the client interaction on value to them, but also drives natural fee growth for you.