How to Choose the Right Auditor for Your Business
When choosing an auditing firm for your business, there are many different things that need to be taken into consideration. You want the firm you choose to be a long-standing relationship as you will be working with them on a yearly basis. This relationship can and should be integral to your business’ success.
Here are several key items your organization needs to consider when choosing an auditing firm:
Every business has different needs and you want an auditing firm that has extensive experience specific to your industry. Finding a team that has experience with your industry gives them the ability to potentially stop issues before they occur. They are able to anticipate what your business’ needs will be and be better able to cater to them.
Availability & Accessibility
Of course, you will be in contact with your auditing firm once a year, but there are many things that can come up in the meantime, and you should be able to rely on your firm for support. A good auditor should be in contact with your business throughout the year to ensure you remain in financial good standing and alert you of any matters that may be relevant to the success of your business.
Firms may look good on paper but accolades, testimonials and reviews are all things to be factored into your research. Check your boxes by reading company reviews, asking around and asking about any recent awards or recognitions. Word of mouth means a lot in this day and age; utilize it as a tool to help you in your search.
There are many tools and tricks in the industry to ensure grade-A quality audits. If a firm that you are looking into isn’t using the most up-to-date technological tools and software, you could be missing out on many important insights into your business, leaving a larger room for error. Leading technology allows audit procedures to be completed quickly with less disruption to your organization. It also allows for a smooth flow of financial information from trial balances into integrated financial statements and analytical review schedules.
Similar to getting a new job, it is important to make sure your auditing firm is a good fit personally as well as professionally. Having the ability to communicate effectively and express wins and losses all plays a large role in your relationship. It’s essential that your auditing team complements your existing workplace culture.
While considering these items, the first step to finding an auditor is to reach out! Squire has an experienced team equipped to provide all levels of businesses, from start-up to long established and a full range of services to support your auditing needs. Connect with one of experts to start the conversation and learn more about what Squire can do for you.