This article first appeared on the Wolters Kluwer blog.
Millennials want their work to have a purpose that connects them to something larger. That fact is important to remember when evaluating your firm’s strategy. Why is that? Because statistics show that, by 2020, 55% of all U.S. workers will be Millennials. Some audit tips could help.
A recent Wolters Kluwer webinar discussed Millennials in the firm and five tips to prepare now for the future of audit. Accounting Today hosted that webinar and industry thought leaders Garrett Wagner of Thaney & Associates, Arianna Campbell of Boomer Consulting Inc. and Brian Siet of Wolters Kluwer were the presenters. Session attendees walked away with tips and habits that will both improve the quality of their audits as well as help their firm attract and retain staff. These items remain critical business issues in most firms today, and are important to Millennials that their firm addresses them.
Good Audit Tips to Appeal to Millennials
The presentation identifies five tip categories, including:
- Train and retain staff
- Client readiness
- Standardize and automate end-to-end workflow
- Investment for growth vs status quo
- Advisory services vs compliance work
The speakers first talk about the value of the category to the firm. The tips come next. Then they end with recommendations on how to incorporate the tips just shared. That flow is great because you need a strategy plan to implement tips you learn. Otherwise, the tips simply remain something you remember you learned but did not fully understand what to do with it.
The Integrated Audit Approach
Additionally, the webinar uses Wolters Kluwer’s Integrated Audit Approach as an example of the kind of technology solution a firm needs to be prepared for the future of audit. Technology that ensures the firm will produce the highest quality audits possible while also giving back time so that the auditor can get back to what they he/she really likes – the investigative part of auditing. That is a win-win for the firm and the millennial staff!
Here is a peek at the award-winning combination that comprises the Integrated Audit Approach. An end-to-end audit system, it is comprised of five trusted solutions working together to keep you on track with the future of audit. Click the various links below for more detail, videos, case studies and more.
- CCH®ProSystem fx® Engagement – K2 Quality Award for Audit Technology — Multi-Year Winner
- CCH®ProSystem fx® Knowledge Coach – Fully peer reviewed; K2 Quality Award for Audit Technology — Multi-Year Winner
- CCH®Accounting Research Manager® – CPA Practice Advisor’s Reader’s Choice Award, Tax & Accounting Research System, 2015 — Finalist
- CCH®Audit Accelerator – Make every client a good client while simultaneously gaining as much as 40-48 hours per engagement, depending on the size of the audit.
- TeamMate®Analytics – Perform data analytics work that, traditionally, is impossible.
So, are you ready to be more future-ready? Take time to watch this one-hour complimentary webinar recording, Millennials in the firm: 5 tips to prepare now for the future of audit. You will learn new helpful tips and habits that will get you well on your way.