Whether it’s shoes, real estate, or the latest smartphone, everyone’s always looking for a bargain. A central component of any decision you make to purchase or not purchase a good or service is the cost. It’s a little easier to determine that number when you’re buying (or not buying) a good because it’s generally the sticker price and, barring any lemony outliers, the thing does what you need it to.
If you’ve ever dieted before, you know the temptation to add something extra to your meal—you know, something actually tasty, or just something else that you believe will satisfy a craving.
CIOs have a unique vantage point over their organization. From where they sit, they see efficiencies, pain points, and potential weaknesses across all departments. This level of visibility is invaluable in today’s intricate, technology-driven, and information-rich business landscape.
[NOTE: Schellman has since updated this content in a more recent article.] Think of your auditing firm like you would a long-term business partner. They are someone you will work with year after year, and they will be an integral part of setting the stage for your organization’s success. As such, the act of selecting the appropriate assessor shouldn’t be taken lightly. Here are several key qualities your organization should look for when choosing an auditing firm:
In my line of work, it is not only advisable to have a mastery of the facts, but prudence would suggest that a good dose of foresight and reason based on actual experience can often times be as valuable a tool. Since the days of the SAS 70, we have seen several subjective opinions about both the appropriateness and/or the ineffectiveness of the SAS 70 report. Even today, there continues to be concerns on how SOC 1 reports, also known as SSAE 16 examinations, are being used in situations that fail to have bearing on internal controls over financial reporting.