#audit

I have worked closely with RCSA. I have a pretty broad view where we are from a quality standpoint.

It is mostly trash and too high level. Where is audit? Better question, where is Wells Fargo Compliance?

This bank will be back in the news within 4 years. This isn’t risk management. I don’t know what to call it. Investment in a process that results in deterrence?

Has anyone heard anything about Ashburn, VA office and warehouse/workspace being on the DCMA property audit radar? GFE/GFP is not tagged or separated from L3Harris' owned property or equipment -in fact, the entire place is a mess with equipment and property strewn about. The Indian guy who came over from Boeing has known about this for months however he just frets about this massive growing problem yet nothing ever changes. Asking for a friend who wants to leave right before the Sh*t hits the fan.

So, they brought back Ptc, and they brought back the night crew, what's next? Will we see a rebranding of the Audit Team. The companies shrink has had to increase yearly since the loss of them.

Bloomberg reported that PwC has been cutting prices for some services after clients pushed back, saying that if the firm is bragging about efficiency gains from AI, they should get a fair share of those savings.

PwC’s Chief AI Officer was quoted saying:
“Clients would hear us talking about using AI and say, we want our fair share of those efficiencies. We certainly, as appropriate, give our clients the pricing benefit of the efficiencies that we are achieving.”

The article also notes that PwC and other Big Four firms are facing challenges retaining partners, with hundreds leaving in recent years.

It’s interesting to see this tension. On one side, firms want to showcase how AI is making them more efficient and innovative. On the other, clients are essentially saying, “If you’re doing the same work faster and cheaper, then we should pay less.”

Do you think this trend of clients demanding “AI discounts” will spread beyond consulting and audit firms? Or will companies try to pocket the margin improvements instead?

Will audit ever slow down the revolving door of people leaving? Every time you turn around you are explaining a finding to a new auditor that is so clueless you wonder how TAS operates and gets anything done.

Case management here. Had stand in sup review some time management issues with me, which I have corrected. A few days later I get told I'm being written up for poor audit proformance. The audit looked sketchy, was not in any format I've ever seen and made it look like I hadn't done 80% of my job, even though all documents where in place. I advised sup of this w proof of work and they looking into it. I've been here a while and come to terms that I might be part of layoffs one day and prepared mentally for it. I haven't prepared mentally for being fired out of the blue though. Anyone experiencing this or got any feedback? Thanks

Allegedly he stayed under $5000 per purchase on his company Amex card. The MO was purchasing and selling tool sets. His boss must be in the hotseat. No doubt an audit is ongoing. I guess one way to "layoff" employees is to root out crooks. This does not reflect well on any level of Medtronic management. I was concerned about the management turnover in purchasing at NH over a decade ago. How can you spot potential corruption from a revolving door? My boss, the General Counsel, shrugged off the concern. Not his department- until it is. I was regarded as a PITA because my actual experience running real businesses taught me you had better mind the till, or any other business asset that is fungible.