The Audit Opinion Issue #1 – Featuring Jim Boomer

McKinsey tells us a transformation is 5.8 times more likely to be successful at organisations where leaders communicate a compelling change story.

As a leader, are you telling stories to support your key communications and change management efforts?

How good is your story telling?

I have explored this over the last 2 years, publishing 2 books which discuss big topics close to my heart.

In A Better Axe, I used the idea of a chainsaw being the disruptive new technology to the axe, and how refusing to embrace big shifts in technology can leave you far behind.

In Partnering Up, I explored new technology selection, and how leaders should consider the people and company behind the technology as a key part of their evaluation process.

Leaders have frequently told me that the books have allowed them to have a different conversation with their teams. Framing the challenges they face in new ways.

Jim Boomer and I caught up recently and communication around change management was one of the topics we discussed.

Jim shared that effective communication is critical for leaders looking to make changes, and how important it is to connect your message with your audience.

All too often communication is about what the change is. But it is far more important first to explain why a change is being made.

This is best explained by Simon Sinek in his TEDx talk Start With Why . And the Golden Circle Model he based his message on.

Put simply, take the time to explain to your team why your firm needs to make a change. Then explain how it will impact them. Before finally explaining what you need them to do next.

It is a simple framework, but one which can greatly improve your communication approach and provide structure to your messaging.

Add stories into the communication and you will greatly increase how it connects with your audience!

Give it a try in your next key communication and let me know how it goes!!

Mark

P.S. You can listen to the conversation between Jim and I HERE

In Case You Missed It – My Recent Content

• What clients want from their auditors
• We have Partnered with Mercia in the UK – Here’s Why
• The Playbook for Private Equity Backed Accounting Firms
• 3 deep-rooted reasons tech adoption is slower in audit
• Once Upon a Time, the Large Vendor Tried to Move to the Cloud
• Committees and Steering Groups KILL Innovation – the Zoo of Innovation
• Hey Financial Times! Stop Bashing Auditors, and Obsessing over Donald Trump!

Technical Resources

Audit Technical Cheat sheets:

A variety of industry cheat sheets, tips and guides for external audits

• Auditing Revenue
• Auditing Receivables
• Revenue and Receivables Controls

A Book Recommendation – Start With Why, Simon Sinek

An obvious choice for this issue. Start With Why is a must read if you are wanting to improve your communication and messaging. Buy on Amazon .

There are a few too many examples for me in the book (mostly about Apple) so if you are time poor you will get the key messages from the 18 minute TEDx linked above, the Blinkist , or the book summary .

It’s conference season, and one of my favorite parts is seeing the multitasking in sessions…

Audit News

Top Story:

EY (US) have made a splash announcement, pledging to invest $1bn in talent and technology. The $1bn is over 3 years, and while increasing starting salaries is the headline message, the release is light on detail. Rumors are that starting salaries will increase by around 10% later in 2024, with further increases over the next 2 years.

Increasing starting salaries is needed to ensure accounting remains an attractive career pathway. The tricky part for firm leaders is the impact of all staff expecting the entry-level increase to flow up the pyramid. Read more .

Other News:

·?????? PCAOB strengthens auditor accountability

·?????? China consider record fine for PwC re: huge Evergrande fraud

·?????? 75% of UK bankruptcies had clean audit report

·?????? FRC publishes settlement decision to KPMG on Carillion