Who may need Audit Preparation services?
After the flurry of law suits and big name scandals, many rules and procedures in the accounting profession have changed and become more demanding.
The pressure has increased for both companies and their auditors. It is not uncommon nowadays for audits or even reviews to result in negative opinions that may delay a company’s plans for business development (such as getting a loan, bond, investor funding, government contract, etc.) for at least one year.
Our audit preparation services, in addition to saving time and money, may help ensure a positive outcome of an audit.
What is the process?
The audit preparation process usually involves simulation of a real audit. We evaluate the company’s internal controls and accounting system, help clean up the books, and generate schedules requested by the actual auditors (usually called “a wish list” or “client participation schedules,” which may be quite long).
See also our Audits, Reviews, and Compilations services.
NOTE: BY LAW, WE ARE ALLOWED EITHER TO PREPARE YOU FOR THE AUDIT OR TO PERFORM THE ACTUAL AUDIT (BUT NOT BOTH).
Please feel free to contact us for more information about the Audit Preparation services.
