One partner in class stated that she have heard management

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One partner in Class stated that she have "heard management speak of how the audit team really would do a much better job (for the money) if they tried harder to really understand the business side of things before digging into the financials." What do you believe is keeping them from understanding the "business side of things"? Do you think it is because they lack the time or budget to go more in-depth in their review? Or is it perhaps due to a lack of experience in the particular company or industry being audited? In your opinion, what do you think they could do to get a better understanding of your business?

Reference no: EM13368679

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