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AuditWatch Efficiency Initiative

The AuditWatch Efficiency Initiative is a change program. It brings you the industry best practices and core training needed to improve each and every engagement. The customization will be determined based on key considerations of firm management such as firm objectives, firm size and structure, coverage of partners, industries and offices, and timing that meets the firm’s needs. Delivered by the expert AuditWatch Consulting Team, the comprehensive program has four phases as described below.

AUDITWATCH EFFICIENCY INITIATIVE PHASES

PHASE 1:
DIAGNOSTIC

The program begins with an in-depth analysis to identify the current state of your engagements and to identify opportunities for efficiency and quality improvement. We review engagement files, survey your professionals, interview selected individuals, and work with you to identify the best practices and opportunities for improvement. The result of this phase is a diagnostic, which presents our assessment of the opportunities to improve the quality and efficiency of your audit process and related engagements. The diagnostic and related discussion drives a solution that includes a customized best-practices seminar and other activities designed to improve your firm’s assurance services.
 

PHASE 2:
BEST PRACTICES SEMINAR

The Best Practices Seminar is designed for all practitioners and focuses on tips and best practices for completing effective and efficient engagements. We tailor the seminar to the specific opportunities at your firm. We will apply concepts through the analysis of your workpapers to illustrate learning points. We will address questions and concerns by inviting challenges and open discussion. We guide your professionals to a consensus about better ways to plan, perform and manage an engagement.

     

PHASE 3:
TEAM REENGINEERING WORKSHOPS

This phase takes the concepts discussed in the Best Practices Seminar and puts them into practice. We help you with the implementation of the concepts to achieve real change on real engagements. AuditWatch will conduct highly focused, facilitated planning sessions. These sessions are designed to give team members hands-on experience with an actual workpaper binder to:

  • Implement key seminar learning points
  • Identify opportunities to improve a specific engagement
  • Design more effective and efficient audit procedures
  • Coordinate an engagement management plan
 

PHASE 4:
IMPLEMENTATION STRATEGY MEETING

AuditWatch will share thoughts and observations from the best practice seminar and team reengineering workshops with your leadership group. The goal is to identify keys to success and challenges/barriers while developing action plans to keep the assurance improvement efforts on track and in place.

CONTINUED RELATIONSHIPS
After the initial program, AuditWatch is available as your partner in your continued improvement on your assurance engagements. Consultants are available to perform one-year follow-ups, conduct refresher seminars, facilitate planning sessions and review additional engagements to evaluate progress in your productivity initiatives.

Program Details

Total recommended CPE credit:
20 credits | Overview
(Seminar: 16, Meetings: 4, Auditing)

 

Questions?
Call 1-800-775-9866

 

Video ClipAuditWatch Efficiency Initiative
Pete Bieghler, CPA, and Shawn O'Brien, CPA, discuss the AuditWatch Efficiency Initiative consulting solution.
View Video >>

 

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