Professionalism throughout the course of an audit has been linked with smoother proceedings and more favorable outcomes. The adage “being nice goes a long way” may have more merit than one might think when it comes to regulatory investigations or audits, says attorney Ary Rosenbaum from The Rosenbaum Law Firm P.C.
A recent account from Rosenbaum attests to the impact of unprofessional conduct on the audit process. In the last real estate closing he was involved in, a combination of poor practice and disregard for common courtesy on the seller’s counsel’s side derailed the purchase of his home and stained future dealings with the involved real estate agent.
According to Rosenbaum, this experience serves as a warning about how failure to maintain a certain standard of professionalism can negatively impact significant financial transitions, including audits. It’s an anecdote that elucidates how the behavioral aspect can play a crucial role in the audit process, potentially influencing the direction and outcome of the audit.
Ethics and professional conduct should constitute fundamental components of every attorney’s toolkit. These aspects are vitally important, as often, auditors are not only evaluating compliance with laws, regulations, or standards but are also indirectly reviewing the level of professionalism within the company or firm they are auditing.
Therefore, demonstrating integrity, courtesy, and cooperation throughout the course of an audit can potentially sway the auditor’s judgment in a more favorable direction. After all, as the old saying goes, you attract more flies with honey than with vinegar.