Audit preparation

Failing to prepare is preparing to fail

We understand that a well-executed audit can provide valuable insights into your business operations and financial health. Our comprehensive audit preparation services are designed to ensure you’re fully ready for any upcoming audit, whether it’s your first or part of a regular cycle.

We specialise in scenario planning and risk assessment to help you navigate the audit process with confidence.

Comprehensive Audit Readiness

Our team provides end-to-end support for your audit preparation:

Pre-audit planning and project management
Review and reconciliation of financial statements
Preparation of audit-ready documentation and schedules
Assistance with external auditor requests and communications
Evaluation of internal controls and processes

Scenario Planning

We help you prepare for various audit outcomes through robust scenario planning:

Development of multiple audit scenarios based on your business context
Analysis of potential audit findings and their implications
Creation of response strategies for different audit outcomes
Stress testing of financial models under various audit scenarios
Preparation of contingency plans for challenging audit situations

Risk Assessment and Mitigation

Our risk assessment services help identify and address potential audit issues:

Comprehensive review of financial processes and controls
Identification of high-risk areas in your financial reporting
Assessment of compliance with relevant accounting standards and regulations
Development of risk mitigation strategies
Implementation of corrective actions before the audit begins

Internal Control Evaluation

We ensure your internal controls are robust and audit-ready:

Review of existing internal control systems
Identification of control weaknesses and gaps
Recommendations for control improvements
Documentation of control processes for auditor review
Testing of key controls to ensure effectiveness

Financial Statement Analysis

Our team conducts thorough analysis of your financial statements:

Detailed review of balance sheet, income statement, and cash flow statement
Reconciliation of accounts and verification of financial data
Preparation of supporting schedules and documentation
Flux analysis to identify significant changes or anomalies
Ensuring compliance with applicable accounting standards

Audit Trail Preparation

We help you establish a clear and comprehensive audit trail:

Organisation of financial records and supporting documents
Creation of detailed transaction histories
Preparation of audit-ready files and documentation
Implementation of document retention policies
Ensuring traceability of all financial transactions

Regulatory Compliance Check

Our services include a thorough review of your regulatory compliance:

Assessment of compliance with industry-specific regulations
Review of tax compliance and preparation of supporting documentation
Evaluation of data protection and privacy practices
Assistance with regulatory reporting requirements
Preparation for potential regulatory inquiries during the audit

Customised Audit Support

We tailor our services to meet your specific audit needs:

Liaison between your team and external auditors
On-site support during the audit process
Assistance with responding to auditor queries and requests
Post-audit debriefing and action plan development
Ongoing support for continuous improvement of audit readiness

By partnering with us for your audit preparation needs, you gain access to a team of experienced professionals dedicated to ensuring a smooth and successful audit process. Our proactive approach, focusing on scenario planning and risk assessment, helps you anticipate potential challenges and positions your organisation for a positive audit outcome.

Contact us today to learn how our audit preparation services can help you approach your next audit with confidence and peace of mind.