Is it just me, or has audit gotten significantly worse in the past few years? The documentation requirements feel more excessive than ever, and staffing seems to be a constant struggle. I could name more, but I’m curious - has anyone else been feeling the same way?

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Seems like more documentation and red tape but expect less time on audits and better margins. And expect that India can do a chunk of the work.

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Yep agreed

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Yeah, I feel thesame. EY’s methodology for instance requires more documentation and testing cos had to test a Key report C&A recently and the kinds of things I had to do to get coverage per methodology was a lot

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Yes, no doubt! More testing, more documentation, more subject matter consultations. But the audit fees remained relatively flat. Sever shortage of experienced staffing and more pressure to meet the margins. And i saw a huge decline in the quality of the accounting on the clients’ side along with significant delays of the PBCs. Very difficult to plan the fieldwork, battle for the good resources is never ending. Audit quality took a dive for sure. I think this is a result of outsourcing and not investing into growing domestic talent. I see why they are doing it but it’s a bandaid on the real problem with the audit industry nowadays. 🙁

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There is no one left to do the work still working 45 hour weeks and I have to do admin and training outside of work

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Do you primarily do pcaob audits? I currently feel the same but curious if the non pcaob auditors fee the same.

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Capitalism

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