Steering The Course to Avoid Failure

Things do go wrong whether in the middle of an audit project or in your role, whatever that is.? Sometimes these failures are caused by inadequate planning, strategy, resources or sometimes deliberate action by others. Whatever the reasons, it is critical to recognize the indicators and take action at the right time.? One of the major perks of being an experienced professional, whether in auditing or any other field, is the ability to recognize early signs that suggests things are not going as expected – that ‘sixth sense’ or sharp intuition to sense impending failures.? As an audit professional, recognizing the signals of failure or developing that ‘sixth sense’ is crucial for maintaining your professional integrity and effectiveness.? Here are some of key indicators to watch for and actionable steps you can take to help you steer your course in the right direction.

Watch out for

Unclear Expectations: ?When guidelines are vague or priorities frequently shifted without clear communication, it creates a difficult environment to succeed.? For instance, receiving ambiguous instructions on what areas of a financial statement to focus on, with different team leads suggesting conflicting priorities. This confusion makes it difficult to determine which risks need more attention and when.

Insufficient Resources: Lack of access to necessary tools, information, or personnel can limit your ability to perform your duties effectively.? Like an audit team tasked with reviewing a large department’s compliance with regulations, but they are only given one junior auditor and no access to necessary auditing software. This creates an overwhelming workload without the tools needed to conduct a thorough review.

Disproportionate Workload: Being assigned an unrealistic number of tasks or deadlines can set you up for failure. ?Pay attention to instances where your responsibilities exceed what is reasonable for your role. ?As a junior auditor, if you are tasked with leading multiple complex audits simultaneously while also managing external client requests and administrative duties. This unrealistic workload can lead to burnout and lower the quality of audit work, increasing the likelihood of missing key issues.

Lack of Support or Feedback: If your leaders are unavailable for guidance or are unresponsive when you seek help, it can lead to a loss of direction in your work.? If during a critical audit, the lead auditor seeks guidance from management regarding a complex regulatory requirement but receives no response for several days. ?Without timely feedback, the auditor may make uninformed decisions that affect the audit's outcome.?

Negative Atmosphere: A culture focused on blame rather than constructive feedback can create a toxic work environment, making it harder to succeed.? Like when an audit identifies a significant finding, leadership focuses solely on pinning the blame on the audit team for not catching it earlier, rather than investigating the underlying processes that contributed to the issue. ?This discourages auditors from voicing concerns or findings in the future for fear of similar or worse repercussions.

Steer the Course

Here are some of ways to tackle these issues and redirect your focus unto success:

Document Everything: Keep detailed records of communications, decisions, and expectations related to your responsibilities. This documentation can provide clarity and serve as evidence if disputes arise or guidance for future projects.?

Clarify Expectations: Proactively seek clarification from your leaders. Ask specific questions about your role and deliverables to ensure you understand what is expected of you.?

Request Necessary Resources: Identify any gaps in resources that could hinder your performance and communicate these needs clearly to your supervisors, explaining why they are essential for your success.?

Foster Relationships: Build strong lines of communication with your colleagues and superiors. Establishing trust can create an environment where you feel comfortable discussing challenges and seeking assistance.

Seek Support: If you believe there is an intentional effort to undermine your performance, consider discussing the situation with HR or seeking advice from a mentor within the organization. Having external support can provide better perspective and guidance.?

Evaluate Your Options: If the situation remains unmanageable and detrimental to your career, reflect on whether it’s time to seek new opportunities where your contributions are much more appreciated and valued.

These are just some of the indicators to look for and I hope that this article provides enough guidance to recognize the time to take appropriate action.? By staying vigilant and sharpening your ‘sixth sense’ in implementing these strategies, you can better navigate potential pitfalls and protect your professional reputation in challenging environments.