Thursday, September 23, 2010

Auditor – A Listener!

Great Post via Sonia Jaspal's RiskBoard.

Interesting Excerpt:

I searched for data on time spent by auditors on various activities and the percentage of those spent on listening but could not find any. A report on MetricStream ( states that 40% of the audit time is spent on documenting work papers and writing reports. The rule of thumb is that 60-70% audit time is spent on execution.   To exemplify my point, I am taking one audit staff’s time distribution for conducting an assignment for a 10 man day period. The ball park figures are depicted in the chart below. Here, of course the assumption is that the meeting time was used to effectively listen. My guess estimate is that if we take 50% of the time as effective listening it would be more realistic. To conclude, on an average one audit staff spends 5% of time listening to the business team. Does this percentage surprise you?

Click Here to Read: Auditor - A Listener!

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