Audit Preparation

 

An audit can be a demanding, resource-intensive process. Key benefits of engaging a consultant for audit preparation include:

 

Saving time

Audit preparation services enable you to reduce the time spent on preparing audit documents. Organizations can spend as much time preparing for the audit as the audit firm spends in conducting the on-site portion of the audit. Our audit preparation consultants have all performed multiple audits and therefore understand the objectives of your audit and how to communicate with your auditors.  Your company’s management team can have peace of mind knowing we can save your organization a significant amount of time by supporting your team through the audit process. 

 

Saving money on audit fees
 

Auditors need accurate, organized, and timely responses to document requests to complete an audit efficiently. Providing inaccurate, vague, or poorly organized information can result in additional requests and inquiry from the audit team.  Quality of information provided to the audit team can determine whether or not audit adjustments are required.  Our audit preparation team can assist your organization in realizing significant cost savings by reducing the auditor’s time in collecting information and preventing costly audit adjustments.

 

Removing audit findings

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Audits may result in significant deficiencies, material weaknesses, or questioned costs.  There is a multitude of reasons for these findings including poorly performed year-end closeout procedures, lack of documentation, or poor communication with the audit team.  Our audit preparation team can assist your organization prepare audit schedules, review documentation for accuracy before fulfilling audit requests, and advise on the proper close out of the financial records.