Mentoring Audit Practices
Metis's role is to guide your practice.
This service is ideal for: new audit practices; those that have had an adverse regulatory monitoring visit; or practices that just feel that that they would benefit from a fresh approach to their audits.
A typical scenario would involve Metis assisting your practice throughout the audit. This would be achieved through a series of meetings, formal or informal training sessions plus a review of working papers at each stage of the assignment to ensure that the audit file produced supports the proposed audit opinion.
Key steps would be:
- helping to ensure that the audit methodology that you intend to use is up to date and appropriate;
- identify training needs that the team have;
- looking at specific clients to ensure that you have adequate background information and that the key risks and issues have been identified;
- Review of the planning working papers;
- Attending the planning briefing meeting;
- Assisting staff during the fieldwork, by answering their questions as they arise;
- Review of the audit file to help identify any weaknesses and by giving guidance to rectify them.
Whilst, some mentors provide services free of charge, due to the level of service that Metis provides this service is undertaken on a commercial basis with a charge of £95 per hour being made.
Please note it is not appropriate for Metis to undertake a cold file review , a hot file review, or an Engagement Quality Control Review, where we have offered a mentoring service in relation to a specific client.