Whether they’re required by regulatory agencies, financial institutions, or your stakeholders — audits are an unavoidable part of doing business. However, audit preparation requires a lot of extra effort on top of regular operations. The process can overwhelm your team and quickly go awry without a strategic plan.
But with the help of Centri’s audit support experts, you can find preparation services tailored to fit your specific needs. We’ll help get you audit ready, so you can focus on what you do best — running a successful business.
The purpose of audit planning is to ensure your audit is a seamless process. Here are the key steps of audit readiness you can take to set yours up for success:
Assess the internal capabilities of your team to handle the audit on top of their regular duties.
Communicate openly with your auditor in regard to the timeline and any concerns, related requests, and questions about the process.
Bring together or prepare documentation showing the performance of your company’s internal controls.
Create a record of your accounting policies, and formalize details surrounding complex accounting scenarios. (This is where an audit consultant can help you strategize the right structure.)
Review your accounts and internal financials to ensure everything is in place with the help of an audit consultant. This includes checking that balance sheet reconciliations, analysis, and reports are correct and ready in addition to any other files auditors typically request.
Our team works as a liaison between your management and auditors to facilitate a smooth execution. That help includes:
We understand what auditors are looking for, which means less time spent on requests and faster responses to auditor questions. Plus, our team can provide full support in-house if you have other needs tied to your audit, like post-acquisition integration, M&A services, or valuation help.
You’ll work with one point of contact, but with Centri, we bring a full firm to the table. And as you continue scaling up, we are here to help manage the growing needs of your business.
Tori Jancovic, Managing Director, Accounting & Audit Support Practice Leader
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