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If an audit firm is familiar with an organization, it knows what reports to ask for and where to get them. It also learns the company’s terminology, which streamlines the audit process. Auditors can be more effective after they’ve gone through a couple of audit cycles because they have institutional knowledge.
If an audit firm is familiar with an organization, it knows what reports to ask for and where to get them. It also learns the company’s terminology, which streamlines the audit process. Auditors can be more effective after they’ve gone through a couple of audit cycles because they have institutional knowledge. Although switching to another firm may cost less upfront, in the long run, you might experience the indirect cost of your time or more specifically, the extra time you’ll have to spend training the new firm and familiarizing them with your operations
