In times of economic uncertainty and unprecedented business decline, audit leaders can help their organization stay afloat by implementing cost optimization initiatives in their department. 

These four actions help leaders overcome business challenges and successfully plan cost optimization initiatives:

  • Continuously monitoring economic indicators to identify changes in the business cycle
  • Increasing audit staff’s awareness of uncertain economic conditions
  • Establishing transparency of all functional cost drivers
  • Developing a robust plan to effectively implement cost optimization initiatives