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How to Prepare for a Financial Audit

CFO Share

Embarking on your first financial audit can be nerve-wracking. This article includes small business accounting tips to prepare for an audit while minimizing its expenses and findings. An audit evaluates: Compliance with accounting standards (GAAP or IFRS.) Do not expect to walk away from an audit with zero findings.

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165: Daniel Raubenheimer

CFO Talks

Today’s podcast is sponsored by Draftworx, which provides automated drafting and working paper financial software to more than 8000 accounting and auditing firms and corporations. Like IFRS I think there’s going to be some alignment of standards, I think there’s going to be more compliance.