Alan Anderson: Applying JIT Concepts to the Audit Process

Reduce audit time by 20% without reducing quality.

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By Alan Anderson, CPA
Transforming Audit for the Future

For most audit firms, the concept of “just in time” means that the audit was completed and the financials were delivered “just in time” to meet the deadline. But in this webinar, Alan Anderson explains how concepts from just-in-time manufacturing can be applied to make audits more efficient, reducing time by at least 15-20% while also improving quality and customer service

 

MORE ALAN ANDERSON: Are You Using the Right Business Model? | Give Advice While Remaining Independent | The New Formula for an Accounting Business | 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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Just-in-time manufacturing was devised to reduce inventory costs, downtime, and waste by following four sequential steps for every manufacturing process: design, build, inspect, and delivery. By analogy, the four steps of JIT manufacturing correspond to the four audit phases of planning, fieldwork, review, and delivery. The raw materials of an audit consist of the trial balance and schedules supplied by the client, and the final deliverable is the audit report.  

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Right-Sizing the Audit, with Alan Anderson

Tuesday, Dec. 17, 2024, 12 Noon PM ET

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Join Alan Anderson, founder and president of Account-Ability Plus and author of “Transforming Audit for the Future,” for a dynamic session on how to make the audit fun and profitable again.

Too many firms approach audit planning as a SALY afterthought. But that’s a mistake.

In this session, Anderson reveals the secret to right-sizing the audit. He teaches a planning methodology that ensures successful audits every time. The process creates a better work experience for staff, assists in providing more value for clients, and ensures that the financials are issued on time.

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CAS Can Play a Critical Role in Clients’ Vendor Selection

The needed skills are already part of the accountant’s skill set; they just need to be applied outside of the finance function. 

By Donny C. Shimamoto, CPA, CITP, CGMA
Center for Accounting Transformation

Historically, vendor selection has been primarily driven by operations or IT teams. However, recent research by the Chief Executive Group for the CFO Leadership Council shows that Finance Teams play a critical role in vendor selection. Forward-thinking CAS teams should take a cue from these Finance Teams and broaden their service offerings to help clients be more successful. 

MORE Donny Shimamoto, CPA.CITP, CGMAMORE CASMORE CFO Services

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How Finance Teams Support Vendor Selection 

As shown in Figure 1 below, more than 7 of 10 Finance Teams are involved in the final selection of vendors and products. Many people often see Finance’s involvement as just the final stamp of approval, but the research clearly shows that Finance Teams are involved throughout the purchasing process. 

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How to Use ChatGPT to Create Images

If you can dream it, ChatGPT can build it.

By Sandi Leyva

ChatGPT 4.0 is enabled with computer vision, which means it can derive information from images that you input. It can also create images that you can use in your business.

Check out our courses on ChatGPT,
offered as a deep discount bundle or separately.
Webinar Schedule:
MORE ChaptGPT here

Here are just a few things I have found when using ChatGPT 4.0 for image creation:

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How to Leverage ChatGPT During This Crazy Tax Season

Make tax season less taxing and more productive.

By Sandi Leyva and ChatGPT

In the fast-paced world of tax preparation and accounting, time is of the essence. Embracing ChatGPT can dramatically transform your workflow, offering practical and actionable solutions to common challenges.

Check out our courses on ChatGPT,
offered as a deep discount bundle or separately.
Webinar Schedule:
MORE ChaptGPT here

Here’s how you can put ChatGPT to work, making this tax season less taxing and more productive, even if Congress decides to pass a retroactive tax bill right in the middle of busy season.

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