External audit of financial statements carried out by the statutory auditors (Ex. Big4) hired by a company can become a costly affair when performed completely onshore since it requires professionals with specific qualifications and skillsets. Audit offshoring, thus, becomes a viable means to reduce costs and gain access to scarce skills. The Big4 auditors have set up their own exclusive offshore entities in countries like India by leveraging their economies of scale and centralizing their training and functionality. However, small and mid-size audit firms do not have this luxury. When the smaller firms try to instead offshore their audit work to independent firms in India, they face several challenges ranging from lack of technical skills specifically in high-quality audit, lack of decent communication skills, data security concerns, etc.
We will take you through the audit offshoring industry, the general trends across the globe, major offshore locations, types of procedures offshored, challenges in offshoring & solutions, & feedback from users.
SPEAKER- Syed Faraz (Partner, AudiTree)
Who should attend? CAEs, Audit Heads & Audit Professionals, Partners/ Founders of audit consulting firms
Date- Friday, 6th August 2021
Time- 11 AM to 12 PM IST
Registration Link- https://attendee.gotowebinar.com/register/4019966659585816335