Why is it essential for auditors to receive information on time?

Timely access to information is critical for auditors as audits are generally conducted within strict deadlines. The effectiveness and efficiency of the audit process rely heavily on the auditors' ability to review and analyze relevant data promptly. When auditors receive necessary information on time, they can carry out their procedures without unnecessary delays, ensure that their findings are accurate and comprehensive, and provide timely reports to stakeholders. This adherence to timelines helps maintain the integrity and value of the audit, ensuring it meets regulatory standards and supports informed decision-making.

While increasing the number of audits conducted, including a variety of perspectives, or limiting the auditor's workload may have merits, they do not directly address the fundamental reason why timely information is essential in the audit process. The primary focus remains on meeting deadlines to ensure the audit's quality and effectiveness, reinforcing why receiving information on time is crucial.