Lessons from audit season
- Emmanuel Dumayas
- 2 days ago
- 3 min read
AS the dust settles after another whirlwind audit season, weary auditors and their equally weary clients are finally coming up for air. The "audit storm" has passed — deadlines (mostly) met and war stories logged.
Now comes the moment to reflect on the frenzy and, with a dose of humor and hindsight, prepare for a smoother ride next year. Every busy season has lessons (with a few laughs at our foibles) to guide us when the next cycle rolls around.
One clear insight this year is that early, strategic planning makes the audit crunch more manageable — especially when paired with the flexibility to adapt. Teams that mapped out fieldwork schedules and budgets in advance, and coordinated key dates with clients, had a smoother season.
By booking key audit activities early (and building in a bit of buffer), firms avoided the worst logjams and costly last-minute scrambles. Of course, even the best plans can go awry. Sudden staff turnover or a natural disaster can throw timelines off-course, so it pays to monitor progress and adjust on the fly. If one audit starts slipping, a prompt reschedule and an honest heads-up to the client can prevent a minor delay from snowballing across other engagements. In short, plan early but stay agile — treat the audit calendar as a guide, not something set in stone.
Effective communication, both within the team and with clients, was another area ripe for improvement. Internally, many teams now maintain separate chat groups for each client engagement. A dedicated channel for each client keeps discussions organized and prevents any cringe-worthy mix-ups (like sending one client information meant for another).
It also means a new staff member can scroll through and quickly get up to speed on that client's issues. Externally, coordinating well with clients often means choosing the right medium for the message. A quick phone call or video chat can resolve confusion faster than a dozen emails, provided it's followed by an email confirming the details.
Teams that smartly blended calls, emails, and in-person meetings — and documented every key agreement or delay — saw fewer misunderstandings and a smoother audit overall.
Critical lesson
A critical lesson this season revolves around the need for rest and proper staffing. Chronic exhaustion is not a badge of honor — it's a liability. One colleague admitted to reconciling the wrong client's figures at 2 a.m. — a harmless but telling mishap born of fatigue. When the team is that drained, mistakes are bound to happen.
The takeaway for firms is to staff engagements adequately and encourage a healthier pace. Even during crunch time, a breather or rotating in a fresh pair of eyes can protect both the auditors' well-being and the work's quality. In fact, teams that paced themselves (and got some sleep) ended up delivering more accurate results.
The off-season is the perfect time for training and staff development. Firms can use these months to sharpen technical know-how and strengthen soft skills that are hard to address during crunch time.
On the technical side, teams can catch up on new accounting standards or finally master that audit software they barely had time to use. Equally important, auditors can work on soft skills like client communication or stress management, so that next busy season they're not only technically prepared but also more resilient.
No audit season should end without a post-audit debrief. Smart firms gather the team to discuss what worked well and what didn't. This candid review isn't about assigning blame — it's about learning from both the wins and the missteps, so they can be repeated or avoided next time.
Maybe that new tracking system saved the day, or maybe starting fieldwork late on one client caused chaos — such insights are gold. By capturing them now and tweaking procedures or checklists accordingly, you turn hard-earned lessons into concrete improvements for the future.
Audit season will always be a challenge, but it doesn't have to be disorderly.
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Atty. Emmanuel C. Dumayas, CPA, CrFA, is managing partner of Paguio, Dumayas & Associates, CPAs (PrimeGlobal Philippines) and managing partner of Dumayas & Mamanteo Law Offices. He is also liaison director for chapters and membership development of the Association of CPAs in Public Practice (Acpapp).
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