Services / Financial Review and Audit Preparation

Financial Review and Audit Preparation

A review of your books, records and controls so you are organized before an audit starts.

Talk to us about thisHow it works

An auditor asked for documents. Where do I even start?

The kind of question this service answers, using your own records and numbers.

Audit preparation checklist

Example
  • Bank reconciliations, January to JuneDone
  • Signed customer and vendor contractsDone
  • Fixed asset list with purchase recordsTwo invoices missingOpen
  • Payroll registers and filingsDone
  • Who approves and who paysSame person does bothOpen

Who it is for

Businesses that have an audit, a lender review or a due diligence request from a buyer or partner coming up, or that simply want to know their records would hold up if someone looked closely.

Common problems it solves

  • Receipts, invoices and contracts are spread across email, folders and shoeboxes.
  • Your bank accounts have not been reconciled with your books in months.
  • One person handles money in and money out with nobody else checking.
  • You received a document request list and do not understand half of it.

What you get

  • A review of your books and records with a list of gaps, errors and missing documents, ranked by importance.
  • An organized, labeled document set that matches the request list you received.
  • An internal controls review: who can approve, pay and record transactions, and where duties should be separated.
  • A short readiness memo you can use to brief your auditor or reviewer on what was found and fixed.

How the process works

  1. Scope

    We look at the request or the reason for the review and agree on what needs to be ready, and by when.

  2. Review records

    We go through your books, bank records and supporting documents and list what is missing or unclear.

  3. Organize

    We help you fix what can be fixed, gather what is missing and put everything in order.

  4. Hand off

    You get the organized file and the readiness memo, ready for your auditor or reviewer.