Use relationship building and a little bit of detective work.
By Alan Anderson, CPA
Transforming Audit for the Future
Ideally, if you’re practicing business-mindedness, you only keep the A and B clients. If a client is below that level, you must consider whether that client is salvageable. If the answer is no, you need to exit the relationship.
MORE: Eleven Types of Audit Clients and Which to Fire | Don’t Risk Losing Good Employees for Bad Clients | Four Questions to Make Your Firm More Successful as a Business | Say Adios to Audit Fee Pressure | Deliver More Audit Value by Getting Out of the Conference Room | Six Essential Elements in Audit Planning | Before the Audit: More Than Just Planning | Five Crucial Attributes for Successful Audit Leadership | Put the Ethics Code to Work for Your Clients and Your Firm | Is Audit in Crisis Because of Definitions?
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For C and D clients, you want to try to grow them into A or B clients by developing a relationship with them. If they don’t reach that level within three years, they can be passed off to another firm. There’s always more than enough work to go around with A and B clients.
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