10 Benefits of Outsourced Audit Support Service for CPA Firms

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10 Benefits of Outsourced Audit Support Service for CPA Firms

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Audit services are a key aspect of any CPA firm. By providing audit services to clients, you are offering value and mitigating risks for them. But, in many cases, CPA firms find themselves struggling between client communication and actual audit work. This increases the need for an outsourced audit support service.

If you are looking to scale your CPA firm by adding audit services to your accounting offerings in addition to accounting and bookkeeping, or if you want to scale up your capacity to handle more audit clients, using an audit support service for CPA firms is indispensable. 

You will not need to have a specialist in-house audit team or auditing software. You can opt for an outsourced audit support service from a reliable outsourcing audit company or hire audit associates. The audit support service for CPA firms will ensure accuracy, reduce risks, and detect fraud or miscalculations in the accounting systems of clients.

Outsourced audit support service refers to the comprehensive support and guidance offered to the CPA firms by expert and experienced auditors. There are many benefits of an outsourced audit support service. 

Here are the top 10 benefits of an outsourced audit support service for CPA firms.

 1. Cost effective auditing 

It is a myth that audit support services for CPA firms is an additional expense. An outsourced audit support service is an effective way for CPA firms to offer audit services to clients. By nature, an audit is a time consuming and complicated process. With an outsourced audit support service, your CPA firm does not need to have a separate audit department. 

Audit support service for CPA firms means saving a lot of cost by cutting down on expenses that would otherwise have been spent on hiring, recruitment, training, and retaining auditors. By outsourcing audit support services, you can minimize the overhead expenditure, while getting the same or even more expertise.

 2. Scalability and flexibility

As the owner of a CPA firm, your objective or goal is to expand your business and grow bigger. Business growth is measured based on increased revenue and increasing ROI, not headcount. Acquiring new clients and scaling up is not easy for any CPA firm. Along with constant efforts in marketing and customer retention, a CPA firm also needs to focus on providing reliable auditing services to clients.

When you are planning to scale up your CPA firm, you cannot do everything on your own. Even if you hire a team of auditors and marketers, you will need to put energy and time into managing these resources. 

With an outsourced audit support service, you can focus on getting new clients and accommodate a larger workload without panicking in audit and customer relationship management stress.

Outsourced audit support services mean you can scale upwards, remain flexible, and eliminate the stress, tension, and hassles of conducting audits. All you need to do is focus on customer experience and retention.

 3. Save time

In today’s world, time is money. An audit support service for CPA firms can save the valuable time of in-house employees, who can then focus on your core services like accounting and bookkeeping or client coordination and communication. You can also save time that would otherwise be wasted on managing auditors and other human resources.

 4. Quick turnaround time

Outsourced audit support service means you can offer audit service to clients quickly without compromising on quality. Businesses and large organizations prefer working with an accounting firm that can complete audit services quickly and adhere to the highest quality standards.

The audit firm that provides audit support services for CPA firms will have a team of auditors that can provide a complete audit report as per the timeline. 

 5. Focus on core business functions

Outsourced audit support services let you focus on the core business functions to generate higher revenue as compared to performing an audit that is really tedious and time consuming. When you hire an outsourcing audit company, you can keep all your focus on core strengths while the company handles the auditing. 

 6. Better quality of work

Audit support service for CPA firms also means better quality of audit work because you have professional and experienced external auditors conducting the audit of your client’s businesses.

Hiring an audit support service provider that is ISO compliant will help meet the accuracy requirements too. Audit support services for CPA firms will ensure that the highest quality standards are met in auditing the financials of large organizations.

 7. One-stop destination for all accounting needs

With outsourced audit support services, your CPA firm can offer audit services as well to clients, along with other accounting and bookkeeping services. Even with auditing, businesses may also need reconciliation services, which will be covered by your CPA partner. Thus, your clients can hire you for comprehensive services, including audits, without the need to go anywhere else.

 8. Hire expert auditors

An outsourced audit support service makes it possible for you to hire audit professionals with a high degree of expertise at an affordable price. These expert auditors are up-to-date with the latest rules and regulations. They ensure that your clients, i.e., businesses, meet the statutory requirements and regulations and are 100% compliant with all regulations.

 9. Manage all aspects of auditing

The audit support service for a CPA firm lets you manage all the auditing aspects through an individual outsourced auditor or an entire team of auditors. From answering audit queries of clients to converting traditional Excel audit files into electronic versions, outsourced audit support services can make auditing seamless and hassle-free for your CPA firm.

 10. Reduce team bandwidth

You may not receive this benefit in the case of hiring in-house auditors. Whenever your workload reduces, you can reduce the hours of hired auditors or you can redefine your contract by reducing the audit support service for CPA firms. This can help you maximize your ROI model.

Wrap-up

When going for an outsourced audit support service, you need to hire a trained, professional, and expert audit support service provider, who has the technical expertise and hands-on practical knowledge along with a proven track record of working on diverse audit projects form various CPA firms.

Hiring an expert CPA company to use an outsourced audit support service can bestow several advantages, along with the top 10 that we discussed in this article. We, CapActix, are a leading certified and expert accounting company that offers audit support services for CPA firms.  If you have any queries, visit our website and Contact us at +1 201-778-0509 or reach out at [email protected].

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+91 902-340-4337

India : A-306, Privilon, Nr Iscon Cross Road Iscon-Ambli Road, A’bad – 380058

+971 58-249-7106

Dubai : 503 Mohammad Noor Talib Building, Khalid Bin Walid road, Opp Royal Ascot Hotel, Dubai, UAE

+1 201-778-0509

United States : 347 Fifth Avenue Suite 1402-227 New York, NY 10016

+91 902-340-4337

Australia : 45A Booreea Boulevard, Cordeaux Heights, NSW 2526, Australia

+256 772-420-075

East Africa : Plot 604, Coral Crecent Kololo, Kampala Uganda

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Dinesh Suthar
Director – Digital Transformation

Dinesh Suthar
Director – Digital Transformation

Dinesh Suthar, a Fellow member of Chartered Accountants of India and commerce graduate, boasts a decade of industry experience in Tax and Finance roles. Having worked with Shell Oil and Amazon (India / UK), he successfully led numerous finance, audit, and tax process automation projects, resulting in significant time savings. Passionate about leveraging new technologies for business growth, he now spearheads CapActix’s Digital Transformation team, overseeing Finance Digitization and Tax Technologies initiatives.

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