It can be challenging for an auditor to lead an audit team. Besides having the most exceptional integrity, the team leader has to possess strong leadership and be excellent in performing audit (Also see Principles of Auditing) so that he or she can supervise the whole team. The audit team holds the reputation of the company or their customer, and sometimes, the issues that arise during the audit process need the auditors’ decision. Small businesses relate to this the most as they do not possess a lot of resources as big companies do, and they may not have followed the best practices of accounting entirely.
If you are one of those auditors who work in the audit firms in Johor Bahru and you want to be like the auditors who lead their teams, listed below is what you should do.
1. Improve your knowledge
You may do so by taking courses like ISO Lead or Internal Auditor (Also see What is an Internal Audit?) Training Course. This is extremely helpful in gaining your confidence to manage customer’s work and lead your audit team efficiently.
2. Review the rules and processes
By doing so, you can ensure that everyone knows how should they complete their job. You need to discuss any issues that arise and tell your team that you are always available if they encounter any problems in the audit process.
3. Determine Lacking Auditing Skills
You need to know the auditing skills that your team do not possess and plan to acquire them. You may achieve this by employing (Also see Signs Which Indicate That You Should Start Employing) another person to join your audit team or conferring a consultant if you need a more in-depth understanding of specific fields.
4. Establish a clear plan for your team
You should consider the expected time that you will receive the information you need from your client, the number of your team members, their experience and specific skills, and the deadlines that your team and your customer must follow.
5. Interview your customer when needed
Conducting audit interviews with your customer is vital, especially when you need to acquire extra information or question his or her practices. Besides, you should ask questions about the finances of the customer’s company that your team has noticed.
6. Share your workload with your team
When you are handling the audit processes, you must share the auditing workload. This makes it clear to them that you do not only delegate the job, but you involve yourself in the audit process. Also, you need to provide input to your team from what you have experienced and train them when necessary.
7. Draft the audit report
At the end of an audit, do not forget to draft the final report (Also see What is a Qualified Audit Report?) and ask for the signature of the customer. You should also ask for contributions from your team members in this process and recognise their input.