— Posted in Business
Things to Look For In a Credible Auditing Firm
Your auditing firm can be construed as your long-term business partner. Not only do they set the stage for ensuring the success of your organization, they are also an entity that you work with over a long term basis. Therefore, you should never take lightly the process of choosing a viable assessor for your organization. When looking up potential auditing firms in Dubai, here are a few things you should look out for:
A Concrete Reputation
The value proposition of auditing firms should be clear and readily visible. If you choose a firm that is in the throes of a rapid growth phase or a firm in its infancy, you will never be able to predict how your auditing process will proceed. Not to mention, your audit report would potentially be perceived with a degree of skepticism. On the other hand, selecting a firm with demonstrated expertise and a well-recognized name translates into collaborating with a firm that is bound to have helped establish top standards for assessment and auditing practices.
Room for Negotiations
Akin to other business-related power plays, such as IT services companies in Dubai, partnering with auditing firms is nothing less of a business transaction, and entails you to negotiate if you aspire to garner the best value for your organization. If you don’t want to pay a fixed fee to your auditor, then do your diligent research and select an auditing firm that provides transparency, exceptional value, and competitive pricing of the total price of the assessment.
Be sure to look for an auditing firm that has extensive experience working in your particular area of business or even in your industry sector. If the assessor has a firm grasp of your industry’s pain points and goals, the entire process of auditing will be a straightforward one. In addition, it would save your organization effort, money, and time otherwise spent getting the firm onboard.
Always ask to speak with senior partners when negotiating with your potential new auditing firm, in order to know the firm from inside out. Make sure that you are introduced to the staff members who will be in charge of managing your account on a day-to-day basis. It’s important that you feel a level of comfort with people you will be working with long-term. During the negotiations, ascertain if the firm representatives are helpful, friendly, and responsive. Always refrain from choosing a firm that is not available when you most need them or does not make your time a priority.