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How to best prepare for an audit post-acquisition

E78 Partners

Audits are an essential part of ensuring that a company’s financial statements are accurate and compliant with accounting standards. Proper preparation is critical in navigating the post-acquisition audit process smoothly, minimizing disruptions, and providing timely, accurate information to stakeholders.

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Quality of Earnings Reports Impact Valuation

VCFO

Some sellers proactively seek a report well in advance of planned transactions to give themselves a chance to prepare for concerns that may arise, eliminate surprises, and/or correct factors that may detract from valuation in a future transaction. An audit opines on the accuracy of a historical period.

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From Controller to CFO: What Changes?

CFO Talks

It’s about making plans for the company’s financial future and finding ways to make the business better. Example: When it’s time for an audit, the Controller is hands-on, working directly with the auditors, showing them the books, and explaining the details. The CFO, however, looks at the bigger picture.

CFO 52
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5 Habits of Highly Effective CFOs

The Finance Weekly

Facilitate risk management, audits, and research. Spot investment and financial planning prospects. They Manage to Simplify Reporting Process Do we really have to do detailed accruals every month like we're doing a year-end audit? Oversee cash flow and strategize for financial requirements.

CFO 52
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Emerging risks for enterprises now includes Generative AI

Future CFO

“Generative AI was the second most-frequently named risk in our second quarter survey, appearing in the top 10 for the first time,” said Ran Xu director, research in the Gartner Risk & Audit Practice. Flawed financial planning assumptions.

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Year-End Bookkeeping Checklist

CFO Share

Plan your schedules. That’s not best practice and could create problems during an audit or due diligence. Year-end is all about uninterrupted concentration, so working on a Saturday is a great idea. These reports are primarily for vendor expenses but also include interest paid, dividends, and option exercises.

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What is Financial Reporting?

Centage

Multiple rounds of audits and reviews to help ensure accuracy. In the end, Excel was never built as a tool to create reports meant to influence how companies plan their financials. Process mapping and planning and the automated workflows of a financial report takes time. The solution? Where should the team start?