The QA team has published a series of articles in IS Chartered Accountant Journal.
Technical Clinics: Highlights of Technical Clinics, please click here.
SSQC 1: Support Implementation of SSQC 1, please click here.
Process Re-Engineering Part II
To stay relevant, practitioners have to continuously review and adopt innovative strategies to improve service levels and audit quality. In the first of this two-part series published in IS Chartered Accountant, January 2015, we shared that offshoring could be one such strategy. We also explained the benefits and challenges of offshoring, and debunked some of the myths surrounding it. Read more...
It is absolutely critical that practitioners charge the right level of fee to deliver high quality service and ensure the economic viability of their practices. However, practitioners cannot ignore the reality that companies look to their service providers to create value for their business and be productive and innovative in the way services are delivered – audits included. read more...
Sustainable Audit Practice
Auditors continue to lament escalating costs, low audit fees and consequential squeezed margins in the audit practice. These factors, along with manpower crunch issue, have been identified as impediments to audit quality.
Well-meaning parties would advise the audit practitioners to push their audit fees up to a fair level. This is of course a logical and decent thing to do but certain practitioners, especially those from the SMP sector, would tell you that competition among audit firms is so intense that even a mere mention of fee increase may send their clients shopping for alternatives. But the ugly truth is that continuing to succumb to client pressure to cap the fee level is not economically viable or unsustainable in the long run. read more....