AUDIT PREPARATION SERVICES
Benefits of Using Our Firm for Audit Preparation
An audit can be a demanding process for any company, either it’s for profit, nonprofit, city, governmental or tribal entity. Preparation can be daunting and resource intensive process.
Key benefits of using our firm for audit preparation:
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Saving staff time: an audit-prep services company helps you reduce the time your team spends on preparing audit documents. Organizations can spend as much time preparing for the audit as the audit firm spends in conducting the onsite audit fieldwork.
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Saving money on audit fees: auditors need well-organized documents to complete an audit efficiently. If you do not organize your financial records properly, your auditors will need to spend more time asking you questions. Your organization can save money by reducing the auditor’s time in collecting information when you use our experienced audit prep team.
Your auditing firm cannot prepare you for an audit because regulations prohibit them from auditing a firm and providing audit preparation services to the same firm. The auditor will not be independent. An independent accounting firm, not associated with your auditing firm, is the best choice for audit preparation services.
We can prepare your books for the annual audit, identify potential areas of concern, and prepare audit support schedules. Our understanding of the audit process assures time and cost-efficient annual audit. Our audit preparation experts will make sure your books and documents are in order before the audit process starts. We will free up your time so that you can concentrate on your business goals.
Audit preparation process involves:
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Compile organization’s workpapers
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Review Trial Balance and accounting records to determine necessary pre-audit adjustments
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Prepare necessary reconciliations and schedules for the auditors(Grants, Prepaids, Fixed Assets, Equity Workpapers, etc.)
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Act as primary point of contact with the auditors to ensure a smooth and efficient audit
We have helped cities, tribes, for profits, and nonprofits to prepare for audits since 2013. We know what auditors need because our team of experts have done audits for years. Our understanding of the audit process assures time and cost-efficient annual audit.
