Wednesday, July 1, 2015

Audit manager - having lunch or dinner with client

Over the years, the auditors of realized that auditing is essentially a service industry. It's important to manage client's expectation whilst ensuring that the financial statement is not materially stated from the prevalent accounting standard. Works got easier and smooth, when both auditor and audit client move in the same direction and are on good term.

As such, it is important to develop or forge strong client relationship with the audit client. We realized that it's a lot easier to forge relationship over lunch, instead of formal face-to-face meeting. We are not discouraging of having formal meeting. However, we are encouraging to have informal lunch with client - in a lunch set-up, where both the auditor and audit client can talk about personal matter, instead of accounting and auditing matters.

Audit fee discussion got a lot easier when both parties are on the same good term.

Hence, the auditors in always ensure that at least a lunch is being organized for each audit client. This is part of client relationship management that worth investing your time and some money.

What is your thought - hope to hear from other auditors within the world. How do you forge stronger client relationship?

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