Hello Mohamed Hegazy,

 I see it in two possible ways: as a management tool that can be adopted to focus these kind of entities to their own  strategy - being very important in ths case the learning and growth perspective - due to the kind of firms we are referring; and on the other way: knowledge about BSC is also important to auditors - for this is a very important way to know/assess the stuation of a firm thats beeing audited.

Best regards,

Helena

Dear Mohamed Hegazy

Greetings,

Yes, You can review the four perspectives of BSC ,and please find the attached file many information for BSC may be used and helpful ,

Best Regards,

BSC can be used to evaluate strategic plans and activities. See the attached article.

Thank you all for your kind suggestions. However, I am more interested to identify obstacles or limitations for the practical application of the BSC for audit firms ? As an example of what I think of there are contradictions between auditors maintaining their independence and trying to satisfy their clients or providing value added services. What might be the other factors which should be considered when developing a BSC in this respect

https://www.researchgate.net/publication/308427094_An_Empirical_Study_of_the_Balanced_Scorecard_Model_Evidence_from_Bangladesh

Article An Empirical Study of the Balanced Scorecard Model: Evidence...

Dear Mohamed,

The customer perspective of the balanced scorecard can be used as a prescreening device before commercial repationships with new customers are entered into. This may be helpful for auditors, too, in order to recognize high risk clients in advance.

Paul  

Dear Paul Thanks for your kind suggestions which make sense. However, I am still interested to get a nice feedback about the challenges related to practical implementation of the balanced scorecard for auditing firms

Dear Mohamed,

The innovation and learning perspective of the balanced scorecard can be used to assess the meeting of CPD (continuing professional development) requirements by the auditors. CPD is a hot topic, as auditors may be at risk of losing their license if they fail to meet CPD standards. But I do not think that the implementation of this perspective would be difficult. Auditors are usually aware of their CPD reporting requirements.

Also, in view of additional services (in case they are allowed) the innovation and learning perspective can grasp new knowledge acquired by the auditors that can be offered to clients. However, this can trigger independence and - perhaps at a later stage - advocacy issues. Furthermore, the audit firm should make learning and competence a strategic priority and communicate this to the auditors. Clearly, this is not the case in many firms, due to several reasons. On the one hand, auditors are already well educated and may not support the lifetime-learning approach (beyond CPD). On the other hand, financial metrics may play the major role at a firm with personal / professional development considered subordinate.   

Paul