Auditors: Take another look
Posted on December 11th, 2017 by WLF
Auditors. They usually visit you in black suits, ask a few tricky questions, look around the systems and a few weeks later issue you an audit report. Right? Well, not if they are doing their job properly. An audit report is the tip of the iceberg, and if that is all you are seeing you’re bound to go down like the Titanic.
Auditors are one of the greatest assets to your company. They have insights into the cogs of your business machine. If you have an auditor that asks the right types of questions you can find out which part of the machine is not working on all cylinders.
Auditors are independent, they act without fear or favour. Employees might see something that is not working well but not necessarily have the framework available to them to raise concerns, particularly if those concerns are about management. Auditors can provide that avenue to have their voice heard.
Auditors can ask the seemingly dumb questions that the Executive or management may be too embarrassed to ask. Too often the question “why do you this process, what do you achieve” is answered with “because we have always done it this way”. Auditors can, and should, challenge the current way of thinking.
Auditors can be your agent for change. Management can sometimes raise issues but when they are not backed up around the table it goes nowhere and changes nothing. When someone independent raises the same concerns, identifies the risks if no action is taken and makes reasonable recommendations to take things forward, BANG – change starts to happen.
Auditors – we are people too. Some people have the perception that we are mechanical, boring and systems-orientated with the personality of an undertaker.
People change – and we’ve changed! Auditors are now viewed as the ‘trusted advisor’ welcomed at the top of the table to voice their concerns to Boards. They play an active role in getting to grips with the governance and culture of the organisation, alongside the systems and processes. We’re involved with Boards, facilitating discussions about risk. And most of us don’t wear black!
WLF Accounting & Advisory’s Audit, Assurance and Advisory division can help you move forward in your business, answering the questions that often are not even asked. And sometimes these questions are the most important ones of all.
