Five Things to Look For When Choosing an Audit Firm

You should thing that your audit firm is your long term business partner. They are somebody that might work with you year after year and they are essential body of setting the stage for your organisation’s success. Therefore, the act of selecting the appropriate assessor shouldn’t be taken lightly. Here are several key concerns your organisation should look into when choosing an audit firm:

1. Audit Firm with Right Qualifications
Naturally, make sure the audit firm you’re scouting looks good on paper. Ask for proof of their training and qualifications which could certify them to perform the assessments for your company. They should have an external auditor certification and certified public accountant (CPA) license. It is rare to find a firm that is accredited by ISO Certification Body, in addition to a CPA and external auditor. A well-qualified audit firm will definitely help your organisation in long run.

2. Audit Firm with Solid Reputation
When it comes to an audit firms, their value proposition should be clear and readily available to you. If you partner with a new firm or choose to work with a firm that’s in a state of rapid growth, there is no guarantee your auditing process will run smoothly or worse, as your audit report might be viewed as a degree of skepticism. By choosing a firm with well-recognised name and demonstrated expertise, you’ll be partnering with a firm that will likely have helped establish the standards for auditing and assessment practices.

3. There Should be Room for Negotiations
When engaging with an auditing firm is a business transaction and like most other business-related power plays, you’ll want to negotiate to get the best solutions for your organization. If you haven’t decided who you shall engage with, then you should look around and choose an audit firm that is willing to assist and help in your business growth.

4. Audit Firm with Experience
A perfect partnership is with an audit firm that has experience in your particular area of business. The entire auditing process will be more straightforward if the assessor is already familiar with your industry’s goals and pain points, and your organisation will save time, money and effort otherwise spent on boarding.

5. Audit Firm with Good Customer Service
When negotiating with your potential new audit firm, ask to speak with senior partners and get to know the firm entirely. You should also be introduced to the staff members who will be handling your account on a regular basis and ensure these individuals are people you will be comfortable working with long-term. You should take note whether firm representatives are responsive, friendly and helpful. Overall, you should not choose an audit firm that does not make your time a priority or is not available when you need them the most.

In summary, audits and certifications would not be so burdensome for your organisation if you choose an experienced and reputable firm that provides multiple assessments and understands your industry effectively; your organisation can depend on the same firm for certifications and assessments each year, with high quality and value. If you are looking for an audit firm, you can consider L & Co Plt as they are offering good quality services from starting up a new business until the auditing part.