One of the audit partners for your firm consults with you on a possible new client....

One of the audit partners for your firm consults with you on a possible new client. What are three things you would want to ask the audit partner (or the potential client) about when considering whether this new client would be a good fit for the firm?

Solutions

Expert Solution

Below are the qualifying factors that we take into account when choosing clients and projects:

1. Is the customer committed to Agile?

We see this as giving the project the greatest chance of succeeding. Every development project we undertake is Agile. This means that if the customer isn’t committed to Agile, they’re not the right fit.

2. Is their timeframe/budget flexible and realistic?

Sometimes people come in with a misconception about how long their project will take or how much it will cost. This will seriously impact the relationship and outcome of the project. Quality applications and websites cannot be built for hundreds of dollars, or in a matter of days.

3. Are they focused on outcomes not features?

It’s easy to list a bunch of features you think your users will want and need. It’s important to think about the outcomes you are trying to achieve, beyond the features you think are required. This gives the team flexibility to be innovative, and find ways to reach your outcomes that may be different from your preconceived ideas.

4. Is this project the basis for an ongoing relationship?

We love it when customers achieve great outcomes and then come back for more! Clients see success working in an Agile way, and getting the most value out of their projects. This will typically bring them back for more next time they have a project or idea they want to explore, strengthening the relationship. We don’t want to be seen as just a vendor/supplier, we want to be partners.

5. Is the approach customer-centric?

Has this been validated by end users? Finding ways to bring clients closer to their customers gets our wheels spinning. Creating something just because you think it’s going to be awesome (without any validation from people who would use it), not so much.

6. Is the project transactional, innovative or a technical stretch?

We like to challenge ourselves and prefer complex and innovative projects. This keeps our team engaged, and that helps them produce the best possible results.

7. Does the client (and project) align with our Purpose, Vision, and Values?

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

Company A is a construction company and is a new audit client of your firm. It...

Company A is a construction company and is a new audit client of your firm. It has never been audited but a different accounting firm performed a review engagement for y/e 31 Dec 2016. Your firm is auditing A’s financial statements for y/e 31 Dec 2017. Company A is privately owned by the Jones family in Country X, using the X$ currency. The president, VP, secretary/treasurer, controller and various levels of managers are all family members. All management employees who...

Heraklion Co is a manufacturer of footballs and is a new audit client for your firm....

Heraklion Co is a manufacturer of footballs and is a new audit client for your firm. You are an audit supervisor of Spinalonga & Co. and are currently preparing for the forthcoming interim and final audit for the year ending 31 October 2016. You are required to document and assess the sales system, recommend control improvements to deal with a specific fraud issue as well as undertake substantive testing of revenue. Sales ordering, goods dispatched and invoicing Heraklion Co sells...

You are one of the Audit Partners of XYZ Certified Chartered Accountants Firm. You have seen...

You are one of the Audit Partners of XYZ Certified Chartered Accountants Firm. You have seen a new prospective client, Performance Auto Parts Corporation. Performance Auto Parts has three locations specializing in the sale of motor vehicle auto parts as well as repair to motor vehicles. The business is owned by a widow, Mrs. Armstrong, who inherited the business upon the passing of her husband. Mrs. Armstrong has no relevant business operation skills or knowledge of the industry in which...

You are a senior auditor of the accounting firm QTP Partners. Your audit team is currently...

You are a senior auditor of the accounting firm QTP Partners. Your audit team is currently planning the 2018 audit of GreenHome Limited, a medium sized listed company that manufactures and sells household appliances such as televisions, refrigerators and washing machines. The company has many stores in shopping centres across Australia. This is the second year your accounting firm is engaged to perform the audit for this client. The financial year under audit ends on 30th June 2019. Past audit...

You are an audit senior at the accounting firm of Court & Partners in Sydney. The...

You are an audit senior at the accounting firm of Court & Partners in Sydney. The firm has recently won the audit of a small manufacturing firm located in Bankstown and you have been given the job. The audit partner in the planning meeting tells you not to worry about the controls because the firm is quite small, and based on his experience of firms of this size, controls are mostly poor and it is not even worth looking at...

Enormo Corporation is a large multinational audit client of your CPA firm. One of Enormo’s subsidiaries,...

Enormo Corporation is a large multinational audit client of your CPA firm. One of Enormo’s subsidiaries, Ultro, Ltd., is a successful electronics assembly company that operates in a small Caribbean country. The country in which Ultro operates has very strict laws governing the transfer of funds to other countries. Violations of these laws may result in fines or the expropriation of the assets of the company. During the current year, you discover that $50,000 worth of foreign currency was smuggled...

Ajax Inc. is a public company ad a new client of Hawtorne Partners, a medium-sized audit...

Ajax Inc. is a public company ad a new client of Hawtorne Partners, a medium-sized audit firm. Jeffrey Rush is the engagement partner on the audit and has asked the members of the audit team to begin the process of gaining an understanding of the client, in accordance with AS 2110. One audit manager leads the group investigating the industry and economic factors, and another helps Jeffrey consider issues at the entity level. Jeffrey will hold discussions with members of...

You have just gotten a new audit client that had been audited by another firm for...

You have just gotten a new audit client that had been audited by another firm for many years. In assessing how effective or ineffective the current internal controls are, what factors will you examine?

You work for a public accounting firm. The audit committee for one of your best audit...

You work for a public accounting firm. The audit committee for one of your best audit clients wants you to investigate the CFO for possible corruption fraud. You have been asked by your client to explain the impact of the investigation on the ability of your firm to continue to serve as the company's auditor. What is your response?

You are engaged as an audit senior in the public accounting firm of Millie and Partners....

You are engaged as an audit senior in the public accounting firm of Millie and Partners. As part of the planning process for the audit of Maxie Ltd for the financial year ended 30 June 2018, you requested the minutes of the Board of Directors meetings for the financial year and noted the following: Date of Meeting Extract from Board of Directors Meetings for the year 2017-18 1/9/2017 The board agreed that in order to attract new customers and therefore...

Subjects