Challenge 2017 Launch (copy)

Introduction (copy)

Title

Planning for Better Engagement Management

 

Welcome to The Challenge 2017

Like last year, the objective is to improve engagement management practices

Two phases in 2017

  • Planning for better engagement management. September 2016 - November 2016
  • Practicing engagement management during fieldwork. February 2017 - April 2017

What's new

  • Team challenge
  • Best practices are more difficult but also more practical
  • Improved process for submitting best practices

Last Season's Success

Participation far exceeded expectation

112 active individual participants

200+ engagement teams

Participants in The Challenge were more likely to apply engagement management best practices

45% of Managers whose teams participated observed the application of best practices that otherwise would not have been performed

The Challenge improved audit efficiency

42% of Managers whose teams participated reported an improvement in efficiency

Engagement Management is Impactful

90% of the auditors surveyed agreed that the consistent application of engagement management best practices improves--

  • Audit efficiency and results in more profitable engagements
  • Audit quality
  • Complex accounting and high risk audit areas do not get pushed off to 11th hour where people make mistakes under time pressure
  • Client service
  • Clients take note of their overall experience. It’s not just about A&A

How to Play (copy)

What's new

The Challenge 2017 is an Engagement Team challenge.

Engagement management best practices are team best practices

Points are awarded to teams

Teams will compete against teams with comparably sized engagements.

You don’t have to register your team. Anyone on the team can submit a best best practice and we’ll track it by engagement number

Some best practices will require you to submit additional information or answer a short questionnaire to receive points

Managers/seniors: you won’t receive submission review reports

Earning points will move teams to higher prize level categories.

There is no head-to-head competition. Just try to score as many points as possible

Best Practices

The Player’s Guide contains a list of all 22 best practices in the following categories:

Engagement Budget and Schedule

Engagement Management Risks

Client management

Communication Plan

Planning and Interim Audit Procedures

Just Say No to SALY Bonuses

Just Say No to SALY Bonuses

To encourage everyone to Just Say No to SALY, we have a special pool of best practices that earn special bonus prizes

  • SALY Got a Makeover

  • Silicon Valley SALY
  • SALY in Control

Prizes

Of course. Fabulous prizes will be awarded.

Prizes still to be determined--you’ll have to trust us.

You did last year...and that worked out pretty well

Resources (copy)

Resource Library

White Papers

Common Engagement Management Risks and Tips for Managing Them

3 Tips for Incorporating Engagement Management Into Planning

Podcasts

Engagement Management Risks vs. Audit risks. What’s the difference?

Identifying Risks Related to Dependencies and Handoffs

Practical Tips for Managing Dependencies and Handoffs

Understanding Client Management Issues

Client Management Strategies in Practice

Dedicated Website

The Challenge Website contains all the information you need to play the game

  • Player’s guide

  • Best practices and scoring
  • Links to submission forms
  • White papers
  • Podcasts
  • Leaderboard

Any Questions?

Log in to the Yammer site and post your question to The Challenge forum 

Thank you!

Thanks for playing and good luck!