The Audit Diaries S01 E01: The Smart Auditee
In this series I will share my experience in Internal audit field in an interesting way. The way one find interesting to read. Hope you all like it. I will continue to post such stuff in future as well. This series is based on my real experience in the field of Internal Audit.
Season #1 – Managing Auditee
Episode #1 – The Smart Auditee
You are new to audit field and with all the skills you have, you put up some brilliant observations with auditee. A few of them to be classified as “damn good ones” as per you. At first, auditee is amazed and appreciates your effort. The next day, he appreciates the quality of your findings ( It may be said that he was pretending to have no answers to them whatsoever). Result- You are at the top of your confidence ( to mean overconfidence here) and your approach becomes casual, having set in mind that you already have a few good points to highlight in your report.
𝑪𝒍𝒊𝒎𝒂𝒙: 1-2 days before closure meeting (or when you pressurise him for written action plan..) auditee shares the detailed reasoning and explanations for your observations. Which nullifies points you made, leaving you with nothing but helplessness and a bunch of curses for him (and some for yourself too). You end up being outplayed by him and have nothing to report (not even in a position to tell the truth).
𝗟𝗲𝗮𝗿𝗻𝗶𝗻𝗴 : Never underestimate the auditee and never become overconfident even after getting good amount of observations. Cover whole process because your work is not limited to finding a few observations, but to give assurance on the process itself.
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Great article. I am happy that you took a simple terminology which can be understandable by students.