Our latest white paper, The State of Audit Efficiency: Insights and Strategies to Meet Realization Targets, provides a data-driven analysis of the key obstacles auditors face and offers actionable solutions to streamline engagements. Backed by extensive survey data from auditors in public accounting, this report highlights common pitfalls in the audit process and outlines strategic measures firms can take to improve efficiency and profitability. This insight is one of four key findings uncovered in our research, each offering valuable guidance to help firms navigate audit challenges more effectively.

Navigating the Audit Process Minefield

Audit engagements are rarely straightforward. In fact, 87% of audit teams cite client delays as a major issue, while 89% struggle with receiving accurate data. Add to this the ongoing challenge of staffing shortages, with 93% of firms reporting resource constraints, and it’s no wonder audit teams often feel like they’re fighting an uphill battle.

Each problem compounds the next: incomplete or delayed client data leads to extended testing timelines, which in turn increases billable hours and strains client relationships. These bottlenecks create a frustrating domino effect, eroding efficiency and stretching audit teams thin.

The Real-World Impact of Persistent Pain Points

Every delay, miscommunication, or staffing gap costs firms valuable time and resources. Engagements drag on longer than necessary, realization rates plummet, and clients grow weary of repeated follow-ups. Beyond the immediate impact on profitability, these inefficiencies hurt morale—staff may feel stuck in a cycle of reactive firefighting rather than proactive, high-impact work.

Clearing the Path to Efficiency

1. Client Onboarding and Education: Equip clients with clear guidelines and timelines from the outset, reducing misunderstandings and delays.

2. AI-Powered Data Validation: Implement tools that automatically check client-submitted data for completeness and accuracy, minimizing follow-ups.

3. Workforce Optimization: Use workload management software to better balance staff capacity, preventing bottlenecks and burnout.

Addressing these systemic challenges can transform audit engagements—turning them into streamlined, collaborative processes where teams work smarter, not harder.

For a comprehensive breakdown of these insights and strategies, download our latest white paper, The State of Audit Efficiency: Insights and Strategies to Meet Realization Targets here.