Execs use audit insights to improve business, poll says

Amid chatter in capital markets calling into question the value of public company audits, Deloitte found through a recent survey that C-suite executives and audit committee members use insights gleaned through the audit to improve performance and operational processes.

The Big 4 firm’s survey of 300 chief-level executives and 100 audit committee members revealed almost 75 percent of the executives and 91 percent of audit committee members use the financial statement audit to identify opportunities to improve business performance.

Similarly high numbers among both groups reported they believe financial statement audits provide valuable business insights. Even further, nearly 80 percent of executives and more than 90 percent of audit committee members said they would expected improvement in company performance if audit findings are ...