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Six criteria for selecting a professional model auditor
Six criteria for selecting a professional model auditor
Procuring a model audit isn’t just about speed or cost—it’s about trust. Unlike most professional services, model audits are often initially procured by equity sponsors without the direct involvement of key stakeholders, such as banks, infrastructure funds, and public sector authorities. These stakeholders, referred to as “Reliance Parties”, may seek the benefit of the model auditor’s duty of care, despite not being part of the original procurement process.
This creates a unique challenge: Reliance Parties, typically large and regulated entities, demand operational resilience within their supply chains. If an equity sponsor selects a model auditor that fails to meet these resilience standards, the consequences can include project delays, credit risks, and reputational damage.
In this context, the final blog in our series outlines the six non-negotiable criteria for selecting a credible model audit provider and demonstrates how Forvis Mazars excels in meeting these standards.
Six key criteria
Stakeholders need assurance that their model auditor possesses the expertise to navigate sector, regional, and technical complexity.
At Forvis Mazars, we are proud to be the leading global model auditor, topping industry rankings for ten consecutive years. Our proposal packs include CVs of the dedicated, full-time professionals employed directly by Forvis Mazars, ensuring expertise and accountability. No subcontractors are involved unless specifically agreed upon. Additionally, we leverage our global network of professionals, offering local insights into tax and accounting specifics.
Being part of a regulated professional services firm is an essential benchmark for integrity and quality.
Forvis Mazars in the UK is regulated by the ICAEW and supervised by the FRC. As a global top-10 accounting network, we bring professional scepticism, independence, and a commitment to ethical standards.
Reliance Parties require confidence not just in methodologies but in the robustness of wider quality controls.
Our approach combines defined planning, resource management, and rigorous review processes. Training and accreditation ensure our team consistently delivers to the highest standards.
Model auditors must be able to stand by their worth, not only now but in years to come.
With UK annual revenues exceeding £300m and global revenues surpassing $5bn, Forvis Mazars in the UK publishes full accounts. Our financial strength underpins both delivery and longevity.
When dealing with sensitive data, secure handling and governance are non-negotiable.
Forvis Mazars in the UK is ISO 27001-certified, ensuring data privacy, governance, and IT security. Trust us to manage your most sensitive information responsibly.
ESG considerations have shifted from “nice to have” to mandatory. Stakeholders expect tangible commitments.
We publish sustainability, carbon reduction, and transparency reports demonstrating our commitment to ESG principles.
A Final Word
When stakeholders rely on your model auditor, you need more than a service provider – you need a partner who enhances credibility and ensures project success. Forvis Mazars meets the highest standards in quality, security, and professional trust. This concludes our blog series on professional model auditing.
If you’d like to explore our approach or discuss your next project, please contact me at jerome.brice@gif.mazars.com.
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