Want to make a good impression on your auditor?
Audits can be costly and time consuming and preparing for them requires a high level of expertise. Accounts need to be reconciled, support schedules need to be constructed. Analytical reviews must be performed, and of course, draft financial statements and accompanying footnote disclosures must be prepared.
Your auditor’s function is to offer an opinion on whether your financial statements are, in all material respects, accurate. In order to offer that opinion, your auditor must maintain independence, and therefore cannot assist you in preparing those financial statements. Further, reliance on your audit firm to perform the tasks underlying the audit work will delay an audit and lead to an increase in audit costs.
At AccountAbility, we are experienced in pre-audit preparation, ranging from preparing reconciliations and support schedules to identifying potential areas of concern and drafting technical position papers. To learn more about our pre-audit preparation services, contact us today.