Attend this session and learn the secrets of preparing for the audit and doing it quickly and easily. We will help you prepare a Year-end “must-do” items checklist covering those “special” areas the auditor always checks. You will be differentiate between the process of analyzing a GAAP financial statement and an IFRS financial statement. You discriminate between the two types of accounting methods by examining the balance sheet, income statement, cash flow statement, and notes on a line-by-line basis using an auditor’s point of view. You will anticipate what information and documentation the auditor will require.
You will judge the amount of time and effort you should invest in preparing for the audit. You will know what items should be discussed with management in advance so they can get ready for questions that the auditor will ask them directly. You will be aware of your firm’s accounting policies and how they are applied. You will be prepared to discuss confidentially and accounting irregularities with the auditor and be ready with any supporting documentation. You will recommend any worthwhile improvements in the accounting function. You will keep your accounting qualifications up to date to provide the best possible return on your employer’s investment in your education and skills.
- Key information and documentation the auditor always wants
- What else could the auditor ask for?
- How much should you tell the auditor?
- What not to say to the auditor
- Knowing what the auditor will ask your boss and be ready
- Getting ready in case the auditor asks you details about your organization’s accounting policies
- Board members
- External auditors
- Compliance professionals
- Operational professionals
- Finance professionals
- Internal auditors