Many companies are required to have audits or reviews of their financial statements for a wide variety of reasons. Banks generally require a company to provide audited financial statements annually from companies that lines of credit or term loans. Insurance companies may require contractors to have annual audits to obtain construction bonds. Companies that are considering an Initial Public Offering will require several years of audited financial statements as part of the process.
Regardless of the reason, an audit is generally a rigorous consuming process that requires a large amount of your accounting department’s time and attention. If you have a difficult time getting though your audit at year end, we can help. Providing additional capacity to your company on a project basis can help make the audit process flow smoothly, and keep your team from falling behind on current reporting and management needs.
Our team has extensive experience performing audits for public accounting firms, as well as working for private companies, so we understand the needs of both parties. We work with your team to be prepared before the audit starts. Whether it is documentation of internal controls, reconciling accounts, or drafting the financial statements and footnotes, we provide the information the auditors need to make the process move quickly and easily. As part of the process, we can also work to make sure your accounting department can produce monthly or quarterly internal statements using the same processes, to ensure more accurate and efficient financial reporting throughout the year.