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If an audit firm wants to charge lower than its competitors to attract customers why is it a self-interest? How am i going to attract new customers if my prices are not lower than my competitors?
By being more efficient, professional, prompt, reliable.
When an audit firm takes the decision to low-ball, there is the perceived threat that the quality of audit work will suffer as a result of a wish not to lose too much time on non-chargeable (or low chargeable) projects
thanks Mike. straight to the point answer. books tend to make things difficult :p
This is a very good explaination Mike. I did not think if it like that.
Good question js!@romes said:
This is a very good explaination Mike. I did not think if it like that.
Good question js!Its frustrating that we buy approved books and the explanation given to us is like they are referring to people with 20 years experience. Mike explained it in 2 lines and i understood much more than 7 lines in the book.
There’s an art to writing an impersonal study text in such a way that it’s interesting to read and maintains / stimulates the mind of the reader.
The questions and posts on this site are more in the nature of a conversation and in that respect I’m at a distinct advantage over the text author.
To illustrate the point, I’m writing this to PS142004, not to some anonymous reader. In addition, because of the facility to come back with a supplementary point (as Romes has done higher up this thread, and which I am about to answer) the entire thread / site becomes more personal and even friendly
Thanks mike for helping us out. In my place i wouldn’t help someone for free, i dont know if you gain something from this but we appreciate a lot how quick you respond in every question and giving us lectures with notes. I recommend to many this website
In an interesting sort of way, it’s quite rewarding to know that by sharing knowledge and experience you are helping others
🙂
Not everything is money and hopefully you will find it in yourself to help others one day js142004. I for one take a lot from this web site and the wonderful free opportunity it is providing to me personally. Very grateful indeed. I fully intend to help others in the future (and have done so in the past on this site in forums where people asked questions I knew the answer to)
Hi Mike,
well this is my first time to be here. so far I like it (:Lowballing. As I heard from an expert that practically first year audit work usually perform at loss.
do that mean they are lowballing , If they prove that they were not negligent?
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