Attracting and hiring skilled professionals and retention of staff are the biggest challenges facing audit firms.

We know there are real engagement issues at most professional services firms and perhaps, even more so within audit divisions, with auditors bailing-out in large numbers. As the article here points out, this could potentially be disastrous to capital markets and society more broadly.

Simply, there is a need for better leadership and better learning and development opportunities – these remain the main drivers of poor engagement, low morale and employee turnover.

Interestingly, training people in areas like problem solving, relationships skills, effective communication and active collaboration would also solve some of the other big-ticket challenges facing audit firms.

Attracting and Retaining Staff Are By Far the Biggest Problems at Audit Firms