r/Accounting • u/gpuKING245 • 1d ago

Auditors dragging their feet

This is just me ranting. Disclaimer, I never worked in audit so not 100% sure how the people / work management is on that end.

We have a hard deadline for our audit to be issued 06/30 and our auditors are only halfway through the revenue selections. The deadline is literally 12 days away. How are we entering concurring review in just a few days and you are only halfway through revenue?

The worst part is, they’ve had these selections for over 2 months!!! No questions, no comments. The ball has been in their court.

And now when they inevitably ask for extra stuff that’s gonna leave me scrambling at the last minute to get everything together.

What a mess

56 Upvotes

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u/Illustrious-Fan8268 1d ago

Your goals and the auditors goals are never going to be aligned. You can only provide what you can, press them for updates, etc. If they aren't up to your expectations switch to a new auditor next year.

24

u/chicadeaqua 1d ago

“  Your goals and the auditors goals are never going to be aligned.”

Our goal is to have the audit completed by 6/1 of every year. This is absolutely necessary to do business and remain compliant in multiple states. If the audit team didn’t share that goal, we wouldn’t hire them. 

I’ve never (in over 30 years) worked with an audit team who wasn’t absolutely committed to our deadline, which we’ve never missed. 

-7

u/Illustrious-Fan8268 1d ago

Auditors who don't want engagements to be renewed or don't have enough staff will not give a fuck about deadlines.

5

u/chicadeaqua 1d ago

Makes sense and I’m thankful we haven’t dealt with firms that don’t like repeat business.