by Michael Wherry, CPA & LSS Black Belt and Dustin Hostetler, LSS Master Black Belt
"When the Risk-Based Standards originally came out, we felt it was important to analyze our entire audit process to identify areas for improvement. We had a sense that we were over-auditing, but our previous solutions provider did not give us a clear way to assess by how much or to link audit steps to specific risks. As a result, auditing staff had no way of seeing how audits changed after new risk assessments were made."
Bryce Gibbs, CPA, Principal and Shareholder, K•Coe Isom LLP
What is the current state of your audit practice?
If you are like many firms, you have leveraged technology to automate and gain a degree of efficiency in what used to be a manual and very paper-based process. This is the easy way to handle change because you really did not change anything at all. Instead, you just digitized your existing process.
Paperless ≠ future-ready.
So what are you doing today to be ready for tomorrow?
Download our latest white paper How to Prepare Now for the Future of Audit, by Boomer Consulting's Michael Wherry, CPA & LSS Black Belt and Dustin Hostetler, LSS Master Black Belt, to learn more about top concerns:
- Integrated Technology
- Inefficiencies in The Audit Process
- Lack of Risk-Based Auditing
- Expectations to do More with Less