Common Audit Pitfalls and How to Avoid Them
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Common Audit Pitfalls and How to Avoid Them
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About this listen
Risk assessments treated as checklists, poor documentation habits, and shallow client walkthroughs are among the most common pitfalls that derail audit engagements. Join hosts Abdullah, and Sam Monsour as they explore real-world examples of how these mistakes lead to uncomfortable client callbacks and missed fraud, while explaining why thinking like a reviewer and slowing down the planning phase can transform your audit quality. The discussion covers everything from asking the right challenging questions to establishing good organizational habits that prevent costly errors down the road.
- (00:00) - Welcome to Audit Smarter
- (01:17) - Common Audit Pitfalls: Risk Assessments
- (03:58) - The Importance of Meaningful Walkthroughs
- (05:07) - The Importance of Documentation
- (08:28) - The Role of Checklists in Audits
- (12:07) - Understanding the Client's Business
- (19:53) - Advice for Senior Auditors and Managers
- (21:44) - The Importance of the Planning Phase
- (23:59) - Document as You Go
- (26:03) - Establishing Good Habits Early
- (29:55) - The Importance of Organization
- (35:51) - Real-Life Examples and Lessons Learned
- (41:02) - Conclusion and Final Thoughts
Connect with Sam
https://www.linkedin.com/in/sam-mansour-cpa-2a755b271
Connect with Abdullah
https://www.linkedin.com/in/abdullah-mansour-454959108
Earn CPE for Listening to This Podcast
https://www.earmark.app/
This podcast is a production of the Earmark Media
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