Hiring an Audit Firm

Hiring an audit firm is not easy but not hard either. The most important thing is to rely on references. Here are questions to ask a reference:

  • How well was the audit done?
  • How fast did they get out to do any field work?
  • How fast after the field work did they get the final report?
  • How many questions did they ask of staff and which staff?
  • What was their price?
  • Would you use them again?
  • Did they meet with management (with no staff present) after it was all done?
  • Did they ask staff if there are things staff wants included in the report?
  • Did they listen to staff’s answers about the way the staff does accounting versus the “perfect” method?
  • How much have they increased their price each year?

Here’s the process I use when searching for an auditor:

  1. Gather a bunch of names
  2. Get them to submit RFPs (you’ll have to give them your financials)
  3. Call references
  4. Invite 2-3 in for face-to-face interviews
  5. Select one
  6. Change auditors after 3-5 years

Lead On!


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