We’re dropping a sneak peek of SCACPAcade! These aren’t just sessions — they’re quests. Each one is designed to power you up with tools, insights, and strategies to clear the toughest levels in today’s profession.
This week, we’re loading into Spectator Mode to preview a session led by Thomas Pietras, Founder of Bauknight Pietras & Stormer, P.A. He is on a mission to uncover solutions that improve audit efficiency.
Audit efficiency has ALWAYS been important to CPA firms. After all, efficiency should lead to better profitability for the firm. In today’s public accounting environment, efficiency is even more important. Better efficiency means fewer hours on an engagement. All other things being equal, fewer audit hours means you can serve the same client base with fewer auditors—at a time when good auditors are so hard to find.
In this session, we will discuss ways to make your audits (compilations, reviews, AUP’s, etc. basically, all our assurance engagements) more efficient. If we all do what we are supposed to do, this will be an interactive sharing of ideas that we can take back to our practices and have a meaningful impact on audit efficiency.
Among the topics we will discuss (in no particular order, since the presentation slides are still in progress):
- Firm approach to audit efficiencies
- Outsourcing engagement team hours
- Software tools that can be used to reduce hours
- Staff training: On the job training, seminars, and the benefits of designing and enforcing standard firm practices
- Firm innovation and the impact on efficiency
- Other miscellaneous topics—driven by our discussions
I hope you will join us for what should be an interesting conversation.
A former Shareholder of Bauknight Pietras & Stormer, P.A. Thomas joined the firm in 1992 following a 13-year career with Ernst & Young. Today, he continues to support the firm’s clients on a part-time basis and serves as an internal advisor on accounting, auditing, and professional ethics matters. Throughout his career, Thomas has served as audit engagement partner and technical review partner for clients across a wide range of industries, including telecommunications, technology, insurance, manufacturing, dealerships and distribution, construction, and healthcare. Fluent in German, he plays a key role in supporting the firm’s international clients, particularly those based in Germany, Switzerland, the United Kingdom, France, Sweden, Italy, Austria, and Slovenia. He actively advises startup companies through his involvement with GrowCo, the USC/Columbia Incubator, VentureSouth, and the Growth Summit.
Brainstorming Ways to Make Your Audits More Efficient
Thursday, Nov. 20
11:10 a.m.-12:30 p.m.
