Audit Preparation Services
Whether you need our assistance throughout the year or just once for audit preparation, we can help. Many of our professionals have worked as external or internal auditors, so we have a deep understanding of auditor requests and can confidently handle auditor correspondence.
Audit Preparation Services Include:
Pre-audit planning and project management
Reconciliation of bank accounts, fixed assets, accrued and prepaid expenses
Preparation, analysis, and updating of audit workpapers and schedules
Reconciliation of balance sheet accounts
Evaluation of revenue and expenditure accounts including flux analysis
Preparation of draft financial statements and accompanying footnote disclosures
Recommendations for required GAAP accounting and financial reporting requirements
Assistance with external auditor requests and communications
Audit Preparation Process.
01.
Audit Readiness Review
We start by preparing an audit readiness review to understand our client’s accounting issues and the status of the books and records. We produce a detailed report of all that needs to be done and the time expectation for each task.
02.
Task Assignments
We assign tasks among a client’s staff members as well as Audit Prep’s staff. Our share of the work is customized to each client’s preference — we can handle all the work, divide the work between our staff and the client’s, or just manage the process.
03.
Timeline
Once we determine the task assignments, we prepare a timeline containing task deadlines and a completion goal date, making sure each staff member has the time and resources they need to complete their assignment.
04.
Process Management
Now, Audit Prep is ready to manage the project and keep it on track as we meet deadlines and cost expectations. We communicate with the audit firm from beginning to end, reducing distractions and delivering the results you need.
Sound good?
Let’s talk.
We’re ready to answer your questions and talk about your needs.