CPAClub’s Post

Check out how AuditClub can be an asset to you!

🔍 Seeking Insight from Audit Professionals 🔍 🔹 Calling all experienced internal audit professionals! 📣 Have you ever been asked or thought about how to quantify the tangible impact of internal audit practices within your organization? Is it even possible or necessary to quantify the value delivered by internal audit 📈 Share your thoughts, strategies, best practices, and success stories in the comments below. Let's measure the true value of internal audit together! 💼💡 #InternalAudit #ValueMeasurement #AuditProfessionals #BestPractices

Is it your goal to become part of a high performing internal audit team? Discover the four key elements that deliver leading internal audit performance. Download our report now and set yourself up for success. #AuditExcellence #HighPerformanceAudit #InternalAudit

In the world of finance, choosing the right guardians for our financial fortress is crucial. One of the most common dilemmas faced by companies is choosing between an in-house audit team and external auditors. Let's break down the pros and cons of each approach to help decide which is best. An in-house audit team can provide deeper knowledge and real-time insights into our company's operations and culture. This allows for more focused audits and cost-effective solutions in the long run for larger companies with frequent audit needs. However, there may be concerns about objectivity due to close proximity to management, limited expertise for complex areas and resource constraints for smaller companies. On the other hand, external auditors provide a fresh perspective and unbiased evaluation, with specialized expertise for specific audits and flexible engagement options based on our company's needs. However, they can be more expensive than an in-house team, especially for smaller companies. Audits are typically conducted on a scheduled basis, not continuously and may require time to understand our company's nuances. So, which approach is right for you? Factors to consider include company size, industry regulations, and internal controls maturity. Larger companies may benefit more from an in-house team while highly regulated industries might require external expertise. Strong internal controls can make an in-house team viable. In the end, the ideal choice depends on our company's size, complexity, risk profile and budget. #internalaudit #externalaudit #financialreporting #corporategovernance #accounting #audit #auditors

Is it your goal to become part of a high performing internal audit team? Discover the four key elements that deliver leading internal audit performance. Download our report now and set yourself up for success. #AuditExcellence #HighPerformanceAudit #InternalAudit

❓ Want your business to gain a competitive advantage❓   💡 Get yourself an Internal Audit team.   And if you are lucky enough to already have one, make the most of what they can offer.   A lot of the work we do is outside of those audit engagements - or at least in my mind it should be.   📈 It's the advisory works that can really move the needle in a business.   More often than not, it's not our audit reports.   ✔ It's the discussions with our clients ✔ It's the challenge we offer ✔ It's the emails ✔ It's the Teams Calls and Teams Chats ✔ It's connecting people across the organization ✔ It's providing insight into the art of the possible   📈 So as another Internal Audit Awareness Month draws to a close, it's important for us all to think about how we as internal audit professionals are accelerating the success of our organizations.   ❗ And keep raising awareness, so that people understand what we are here to do ❗  #internalaudit #audit #corporategovernance #accounting #riskmanagement #awareness

Let's have a conversation, and see how AuditClub can help your team!

Thinking today about the pressures Internal Audit teams may face—being asked by management to change reports, modify audit plans, or drop audits, whether directly or subtly. I believe that it happens more often than we might realize. Have you experienced this too? #InternalAudit #CorporateGovernance #RegulateInternalAudit

Do you need to be an accountant to work in internal audit? Richard Chambers, former CEO of the The Institute of Internal Auditors Inc. and current advisor to AuditBoard discusses this and more with AccelPro Audit. "If you think about all the risks that an organization can face, there's everything from financial, to operational, to technology risks and beyond. You need the skills collectively within the internal audit department to address any of those risks. This means that if all you have are accountants, you're only going to be able to look at the financial risks. That's why you need other skills in the organization to be able to follow whatever risks may come your way." https://lnkd.in/ewMP9ifY Hosted by Jessica Stillman #audit #internalaudit #accounting

Joining AuditClub is your ticket to audit transformation. Simply become a member, choose one of our innovative access passes, and step into a world of audit excellence. Meet your dedicated fractional chief or crew, who will become your strategic partners. They'll dive deep into your organization, unveiling how AuditClub can elevate your audit game. Together, we'll craft a bespoke strategy, leveraging our knowledge within our flexible support model. It's time to redefine auditing and propel your success to new heights with AuditClub. 🌟💼 #FinancialSuccess #AuditClub #Accounting #Auditing #CPA #Audit #AccountingServices #AuditLeaders