AUDIT INNOVATION AND QUALIFICATION October message
PAI is an outstanding leader of auditing with current content team and programs to accomplish.
As auditors rise more and more auditors are needed to turning on clean audit practices to benefit all clients. But someone such as a CEOs and or commissions make auditing livid in case they have own agenda not in compliance with the terms of audit engagements.
Clients will look for the most qualified PPA or a member of PAI to be hired. PPAs know their work and the right thing is to take them on without delay and many are registering to become PPAs among other audit designations in practice. While some traditional auditors and practitioners are static, most of audit professionals have the keys to steal innovative auditors’ stunt into audit practice but a professional auditor is steadfast and won’t budge or accept to be jacked by other mobile and ambitious auditors or stakeholders who don’t count as professionals or certified auditors any more. Such as these are the one denouncing or tarnishing the name of professional auditing.
Audit innovations are every time purposed to benefit global audit fraternity and stakeholders. Audit expectation leads focus also on improved firm performance registering not only profits or growth in firms or clients. In this case, auditors have important opportunities within their mandate to boost economic goods for taxes that also have shelters ripe for decision makers or investors. Because it further attracts investor optimism basing on firm performance and audit reports, signifies that Auditing avoids emotions and financial stress in itself and advises clients about firm performance and growth. Since auditing is respected because of its professional clout, reputational risk, opportunistic risk, audit risk etc claim the order that we as auditors must fight against poor audit practice. Hence, audit practice won’t move into professional recession as economic firms and governments do found in developing and developed world. It is not common to know recession in third world since these economies are ever performing at lowest levels below recession yearly as it is in Zimbabwe.
Auditing is instead, at the right time facing many challenges of skills gaps under the digital world. Aside that, the auditor is more empowered by professionalism and has tools to audit clouds systems in any space. Having said this, audit skepticism, and audit risk don’t guarantee simple omissions which won’t warrant professional prosecution/litigation.
Business leaders can learn to accept professional audit practices to ensure their exclusive prudence on financial state of affairs of a firm at any moment one time. Thus, their fiduciary responsibility requirements of the financial boards must accept audit assertions/assurances or edge without; it might be bad pointing to possible no declaration of dividends.
Professional auditing will as a weapon of trust empower firms to realize profit growth, more dividend declared, workers welfares improved and reputation in marketing products perfected. Because the presence of skilled and leveled auditors certified as Professional Public Auditors do a professional practice job right from the word from colleges and universities. .
Climate change is not only environmental but there is professional fever for changes and particularly claims by peer audit organisations against people in the profession who should only promote professionalism and avoid maneuvers based on some audit firms facing litigation. Auditors are semi conductors in the profession that they absorb all shocks; maintain professionalism to benefit both public and private organisations. Strictly auditors neither need special status nor threaten the status of the auditor to provide prudent audit assurance services. What the auditor needs is to respect professional mandate for professional work and status comes later. Yes, we auditors are truly professional and there is no doubt about it.
Professional auditing did not begin as an end service in itself but its ongoing innovation is realised at not only at practice but from skilling at Professional Auditors Institute-PAI. However, globalization has not left audit profession shaking either since private and not for profit firms funding have sunk in traditional businesses either are closing therefore auditing practice is even more threatened by technology far ahead of the thematic skills we have at hand.
Audit is always heads high and cannot stop at that, are more focused no matter what and cost, audit client relationship matters more and harmonizes and improves audits. Moreover, Client services relate to acceptance of audit assignments done professionally in basics to balance risks free effects unto Balance Sheets that would point to change management in audit firms or firms declare dividends and increase on share investments and good governance.
Even that employers are downsizing staff in preference for robots sends fevers to work force. More so auditors are faced with proven motion to replace auditing with robots. So what? The robots and software in audits have reduced internal audit work but increased external audit efforts in practice. Similarly, whistle blowers have not been comprehensively catered for despite their accountants’ complaints that face good governance practices as it is that no economy will do without public and private auditing to weaken.