Auditing the Auditor: Managing Client Expectations
Over the past four years as an auditor in public practice, I have developed a deep appreciation for the importance of strong client-auditor relationships. I’ve learned that managing these relationships effectively isn’t just helpful—it’s essential for delivering high-quality audits and ensuring client satisfaction.
Challenges in Meeting Client Expectations
One of the primary challenges we face as auditors is balancing client expectations with the need to deliver audits on time. Conducting audits with professional scepticism and maintaining high-quality standards is crucial. A well-structured audit plan is key to navigating the complexities of the process. Without proper planning, audits can become disorganised and inefficient.
Audit planning involves allocating sufficient time and resources to ensure smooth workflow from start to finish. This includes assigning responsibilities, setting timelines for deliverables (such as trial balances, general ledgers, and supporting documentation), and anticipating potential challenges. Poor planning can lead to delays and complications, so adhering to timelines is essential to meeting stakeholders’ expectations.
Managing Scope Changes and Unexpected Issues
Audits can become more complex when the scope changes unexpectedly. For example, in one audit, we discovered goodwill during year-end testing that hadn’t been identified in the planning stage. This oversight required additional resources and time for impairment testing and gathering supporting documentation, which impacted our budget and timeline. Fortunately, the client understood, and we used the opportunity to improve our communication for future engagements with large client bases.
Access to clients’ IT systems plays a vital role in streamlining the audit process. However, restricted access can delay data retrieval, which may affect audit timelines.
Maintaining continuous communication with the client’s finance team throughout the audit is critical. By addressing key issues as they arise and incorporating necessary recommendations, we can add value to the client’s financial reporting process. This transparency helps build trust and ensures the client benefits from our insights.
Strengthening Client Relationships
Through my experience, I have discovered several strategies to build and maintain strong client-auditor relationships:
1. Regular Communication
I prioritise regular check-ins with clients, based on their preferences. Whether through scheduled meetings, informal chats, or even lunch or coffee catchups, staying in touch keeps everyone aligned. These face-to-face interactions often make a big difference, especially when time is tight and quick turnarounds are needed.
2. Understanding Client Needs
Taking the time to understand each client’s unique business model and challenges has been invaluable. This allows us to tailor our services and show clients that we are committed to their success. We also adapt our communication methods based on their preferences, ensuring clear and effective conversations.
3. Providing Value Beyond Compliance
We strive to do more than simply meet audit requirements. By offering valuable insights and best practices, we position ourselves as strategic partners, helping clients improve their operations.
4. Feedback Mechanisms
Encouraging client feedback after each audit has been a key part of our process. It allows us to learn from their experiences, address any concerns, and continuously improve our services. This openness helps build stronger relationships based on trust and transparency.
5. Building Personal Connections
I believe that small gestures, such as remembering birthdays or celebrating milestones, can strengthen our client relationships. Taking the time to build rapport makes clients feel valued and deepens trust.
6. Collaborative Approach
Working together with clients, rather than simply presenting audit findings, fosters a collaborative relationship. This not only improves the audit outcome but also strengthens trust between both parties.
Conclusion
Managing client-auditor relationships is crucial in today’s dynamic business environment. By prioritising communication, understanding client needs, and consistently adding value, I have been able to build stronger, more successful relationships. These connections not only enhance the audit process but also lay the foundation for long-term success. Strong client relationships are key—not just for compliance, but for fostering growth and trust in the industry.
At National Audits Group, we pride ourselves on our high level of client engagement and communication. We deliver uncompromising standards of service and expertise, nurturing and maintaining trusted relationships. We believe that our success is directly tied to the success of our clients.
Ashiqur Chowdhury
Senior Auditor | National Audits Group
Fruther Reading:
Preparing for Your First Financial Statement Audit – National Audits Group
Internal and External Auditing: Why Are Both Important? – National Audits Group
