The surge of significance Audit Quality has made for itself in our industry must be acknowledged. In recent years, the focus on robust delivery and technical expertise has become a key driver for change, prompting many firms to reassess their priorities and strategies for recruitment.
The importance of delivery and technical experience is proving to be essential and it has created a noteworthy shift for many firms in their appetite for recruitment.
So what has triggered this surge in attention towards Audit Quality? Several factors may be contributing to this trend, including:
- The Impact of the Pandemic: The global health crisis disrupted businesses on an unprecedented scale, exposing vulnerabilities in processes and controls. This has highlighted the critical importance of maintaining high-quality audits to ensure resilience and accountability.
- Tightening Regulations: Increasingly stringent regulatory requirements, both in the UK and internationally, have placed greater scrutiny on audit processes. Firms must now prioritise compliance and excellence to maintain their credibility and avoid reputational damage.
- Market Demand: Beyond external pressures, there is a growing recognition of the intrinsic value that robust Audit Quality brings to organisations. Reliable audits not only foster trust but also provide a solid foundation for long-term success.
Numerous clients we at FSP are working with are making changes to establish and strengthen their Technical Audit team – looking for experienced, senior talent to come and pave the way for a future team. These roles are not only critical to ensuring compliance but also to driving innovation and setting higher standards for the future.
On the flip side, countless candidates we are speaking to are expressing desire to work hybrid/split roles encompassing an element of Audit Quality to the plethora of responsibilities they would need to make a move enticing. This blend of duties not only makes roles more appealing but also provides professionals with the chance to make a meaningful impact on their organisation’s audit framework.
The increased attention on Audit Quality has opened up important conversations within the industry. Is this focus merely a response to external pressures, or does it signal a deeper, more permanent shift in how firms operate? Whatever the answer, it is clear that the role of Audit Quality will continue to evolve and expand in significance.
As we look ahead, it’s worth considering how firms can adapt to this new reality. For those looking to attract and retain talent, offering flexible roles and opportunities for professional growth will be key. For professionals, developing expertise in Audit Quality can open doors to meaningful opportunities.
Ford Search Partners has placed many candidates into our client’s Audit Quality roles in the last couple of years. All at high-level positions – either experienced Directors or senior Partners and Heads of Departments. We take pride in being so actively involved with the change in market demand.
Since this is a topic we at FSP have been discussing and partaking in at length, we would love to hear external opinions. What is your take on the growing emphasis on Audit Quality? Do you think this trend is here to stay, or is it merely a temporary response to recent challenges? We’re keen to hear your thoughts and to explore how this topic is impacting professionals and firms alike.