Why Audit Quality is Important for Auditees?

Well informed auditees with strong governance structures increase the likelihood of high quality audits and more efficient audits. Why?  Experience has shown that these auditees generally spend more time considering the qualifications of a potential auditor during the hiring process and evaluating the reasonableness of an auditor’s anticipated hours in relation to the proposed fee based on the work to be performed.  Further, these auditees have a stronger understanding about the audit requirements that apply to them; are better prepared for their audits; and more clearly understand their role in the audit process. 

This section of the Auditee Resource Center covers why auditees should be concerned about audit quality, including the importance of having a quality audit, auditee factors affecting audit quality, and 5 steps to improve quality.