Some benefits to outsourcing to an audit company that specializes in convenience stores:
- Finding and keeping great talent is always a challenge. Your best people probably will not end up on your audit team because they and you will want to leverage them in your core store operations.
- It is difficult to provide the necessary training and support for your auditors. Will you invest the time and resources needed to keep the skills of your auditors at peak performance?
- Internal audit programs often experience “job creep”. It’s too easy to keep adding more tasks and responsibilities to the auditors. The result is a job that requires an almost impossibly broad skill set and the return on investment for these additional roles is evaluated infrequently.
- Your audit process and approach is at risk of becoming insular and outdated. How will you get the audit industry’s best practices into your organization regularly? Outsourcing gives you access
- Internal audit programs will have to compete with other departments for technology and equipment investments. Will they win often enough to keep current?
- Outsourcing the audit function increases your flexibility. With an internal team your audit costs become mostly a fixed budget item. With an outside provider, you pay only for the number of audits you need, giving you budgeting flexibility without have to increase or decrease your staff.
- When all the hard and soft costs of your audit program are considered, it is often less expensive and more cost effective to outsource.
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