What to Look For When Choosing an Auditing Firm
The right auditing firm can protect your organization from improper management, keeping you on the road to long-term success without any unnecessary complications. But when so many companies claim they’re the best at what they do, how do you choose the right partner for your unique situation?
Let’s take a look at the most important things to consider when selecting a new auditing firm.
Don’t be fooled by flashy websites or bold claims — look for the proof. Does your auditing firm have the right qualifications? Make sure they’re properly trained to perform the assessments you need. Keep your eyes peeled for:
- External auditor certifications
- Certified public accountant (CPA) licensure
- Additional “extra” certifications
Years of Experience
While training and qualifications on paper are great, they’re not the whole story. You want to work with an auditing firm that has years of hands-on experience performing assessments — and it’s a bonus if they’re already familiar with your industry, too.
An experienced firm will know what pain points to look for so they can streamline the process and save your organization time, money, and effort in the long run.
Breadth of Audit Services
If you need multiple assessments, it’s a good idea to look for a “one-stop-shop” auditing firm that can take care of everything at once. This cuts down on the time and resources you’ll need to spend tracking down a new auditor — and it’s more efficient because your partner can become familiar with your business to bypass additional onboarding hangups.
Customer Service and Accessibility
Will your auditing firm be accessible to answer your questions throughout the entire process? Highly trained, specialized staff are a great asset — but nothing makes up for poor customer service. You need to know that your chosen partner will take care of you as a unique organization and not just another number in a sea of clients.
During negotiations, try to speak with as many employees as possible. Make sure everyone you’ll be working with is helpful and responsive — and take a look at how they interact with each other, too.
Is the company culture friendly? Are these people you feel like you can trust? If you find yourself hesitating or answering “no”, keep looking.
Do past clients trust the auditing firm you’re evaluating? One of the easiest ways to get a clear, accurate picture of a potential auditing firm is to talk with organizations that have actually worked with them. Nothing speaks like first-hand experience.
Moreover, an auditing firm with a strong reputation will produce a report you can trust and confidently share with others. You don’t need to work with the biggest name in the industry — but you do need to know that your partner will follow through on their promises.