Skip to content
GeoDataVision
Thread Options
#456926 - 11/15/05 04:34 PM Auditor Selection
Anonymous
Unregistered

The examiners want me to include in my audit policy the selection criteria that we use when selecting an audit firm. Can someone help me out and direct me to a place where I can find examples of this.

Return to Top
Audit
#456927 - 11/15/05 04:51 PM Re: Auditor Selection
Jokerman Offline
10K Club
Joined: Nov 2003
Posts: 12,846
Is this for f/s audits or internal audits?

Return to Top
#456928 - 11/15/05 04:52 PM Re: Auditor Selection
Anonymous
Unregistered

both.

Return to Top
#456929 - 11/15/05 05:57 PM Re: Auditor Selection
Jokerman Offline
10K Club
Joined: Nov 2003
Posts: 12,846
Examples? No.

But as far as criteria - I would say that your number one issue for f/s audits is going to depend on your ownership. If you are a public co. with a widely-distributed ownership, you'd want a firm with a well-known public reputation. If it is family-owned, you would be more concerned that the family knows they are competent.

For internal audit, I would say that your audit committee's comfort with the firm's competence would be your first priority.

Of course, $$$ is always an issue.

How to put that in your audit policy, I don't know, but hopefully that can get you started. Maybe some others will list ideas.

Return to Top
#456930 - 11/15/05 06:14 PM Re: Auditor Selection
Anonymous
Unregistered


Return to Top

Moderator:  Andy_Z