How to Prepare for an Annual Financial Statement Audit?

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With 2017 under way, many companies are preparing for annual financial statement audits. While the audit process can be cumbersome, here are some steps to make the process as painless as possible.

Remember financial statement auditors work to assist management in identifying opportunities for further improvement and to increase overall confidence in company financial data. They provide reasonable assurance on the accuracy of a company’s financial numbers and the operating effectiveness of internal control design. Annual financial statement audits provide a second look into financial performance, and insight into a company’s strengths and weaknesses.

What happens before the annual financial statement audit …read more

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