In addition to making recommendations for improved operations as noted throughout the engagement, we also have extensive experience in audit preparation. A sample of the many items performed during an audit preparation engagement includes the following:
Review of all balance sheet accounts to ensure they are recorded at appropriate values in the accounting system.
Review of major expense and revenue accounts to ensure the items are coded to these accounts are properly classified.
Preparation of all workpapers to assist the independent auditor and to minimize their time in the field and your audit costs.
As we perform each of the tasks listed above, we will train your staff as needed so the issues we find are not repeated year after year. This will provide you with a less costly audit and future audit engagements and will also provide you with more accurate financial statements throughout the year.