From identifying strengths and weaknesses, to detecting and reducing errors, monitoring provides a number of benefits to accounting firms. Did you know professional development is one of them?
When conducted in a thoughtful manner, monitoring can highlight ways for firms to confirm, identify and provide staff with professional development opportunities. Here’s how:
As part of ongoing monitoring activities, firms should review professional development records to ensure CPA staff are compliant with professional development requirements. By making this activity part of your monitoring, you’ll know whether or not your team is up to par.
By highlighting deficiencies in staff knowledge and training, you can use the results of the monitoring process to identify professional development opportunities that are relevant to your staff. Perhaps your team needs additional training in client correspondence or the creation of financial statements. Your monitoring results will help you recognize and respond to these gaps.
Finally, the results of your monitoring efforts can be used to provide verifiable professional development hours. By combining the monitoring process with professional development training via a debrief session, your firm can make the most of its investment in monitoring and better address areas for improvement while obtaining valuable professional development hours.
Monitoring and professional development? Now that’s what we call a win-win.
Looking for more information on monitoring? Click here to download Clearline Consulting’s Special Report: The 5 W’s of Monitoring.