For financial professionals, independent external audits of GAAP financial statements are an inescapable reality. For public companies, it’s a statutory requirement under SEC regulations and for many fast-growing private companies, it’s a necessity to meet the demands of lenders, VCs, and other stakeholders. There is even a possibility that the IRS could require a financial statement audit as part of a broader tax audit.
Ultimately, every audit boils down to the risk of a material misstatement in the numbers. The responsibility falls to you and your finance team to ensure that your financials present the lowest possible risk of such errors, thereby earning a “clean” (unqualified) opinion from your
independent auditor.
To achieve a smoother process in preparing audit-ready financials, you need well-documented transactions, balances that are calculated accurately, and financial statements and backup documentation that can be produced in a timely manner.
Learn how to minimize the risks, streamline the process, and generally make your life easier. Download the White Paper: Preparing for Audit-Ready Financials.
About AcctTwo – Financial Management Software and Outsourcing
AcctTwo is a leading consulting firm and reseller of cloud-based accounting and financial management software. AcctTwo’s sophisticated systems solve the issues that growing middle market companies face today. AcctTwo also outsources back office processes, allowing clients to focus on the core competencies of their business. AcctTwo provides the people, processes, technology and office facilities to perform these functions, while allowing clients to collaborate interactively through an on-line portal.