First Working Week of the Year

In his blog our CEO shares personal insights from a career in accounting and tech

 

During my time in practice, the first working week of the year was always an interesting one. It was often a slow start, dusting off the cobwebs after a rare shutdown. Typically, we used it to complete the internal training for which we’d missed the yearend deadline, cram in training sessions and prepare for the busy season ahead.

Every year audit busy season felt like it got harder and longer. In the early part of my career it lasted 2, maybe 3 months. End of busy season social events in April signified the intense work was behind us. But in later years, busy season was still raging in May, or even later depending on your client portfolio. I questioned whether such a length of time could truly be called a “season”.

I’m sure once again this year I’ll be speaking with auditors in our customer firms over the coming months who’ll be working every available hour to hit deadlines, support their colleagues and deliver the best work they can. I respect their resilience.

Pride in a job well done is very satisfying – particularly when you can exceed the expectations of clients. Sometimes a little help goes a long way to achieve effective audit execution though.

Neither you, your teams or your client want to be spending any more time than is necessary performing certain elements of the audit process. Working smartly is key. With a little thought and planning, efficiency can be achieved while also increasing the quality of the work performed.

And more valuable outputs also don’t necessarily require any more hours on the code.

My colleagues and I have a lot of experience in delivering audits of all shapes and sizes. For different profiles of client, across different industries, from listed to small owner-managed businesses. We’re battle-tested when it comes to audit busy season, so we decided to offer a helping hand.

This week we ran our first webinar of the year, sharing 10 Top Tips for Effective Audit Execution. As well as talking through the tips we shared a suite of resources, such as example workpapers and client report templates, to help auditors focus more on client value this year.

The top tips come from a guide we have written and will release next week, highlighting how firms can make busy season a little easier this year. It builds on the success of our previous guidance on Best Practices for Valuable Audit Planning. We wrote these guides to help teams striving to improve and add value – for those not satisfied with SALY (same-as-last-year).

To all those auditors now facing the beginning of busy season over the coming weeks I wish you good luck and hope this little help goes a long way towards happy teams and happy clients in 2020.

 

Mark Edmondson

Inflo President & CEO

Mark.edmondson@inflosoftware.com

 

To watch this week’s webinar on demand and receive your busy season resources, click here.