How audit ready are you?

Even though we all know it will come around, the year-end can mean added pressure for finance departments, as the day to day running of your business continues on.

Being unprepared can mean rushing to have required documents in place on time, struggling to respond to last minute audit adjustments, reacting late to stakeholder information requests which can ultimately lead to unintended and undesirable consequences.

In addition, finance leaders and their departments are more involved in business strategy and planning than ever before as shareholders and regulators demand more and more detailed information. The increased demand on the time and resources available to CFOs and their teams, makes efficiency evermore critical to success.

Achieving an on-time audit

Audit readiness is achieved by having a plan to streamline the financial statement and audit preparation process, allowing more time to address your ever-growing scope of responsibilities.

A professional financial reporting support service can raise the quality of your processes, reduce the chance of delays, relieve the resource pressure at year-end, and help to ensure compliance.

How we can help?

We deliver external audit to thousands of clients worldwide and can use that experience to can help you improve your audit readiness procedures and complete the process on time without unwelcome surprises.

Common areas where we can support you include:

• Technical accounting support on material financial reporting issues, making sure that key issues are known and documented to a high standard;
• Working as your audit support lead, coordinating and helping to progress the audit; and
• Collaborating with management to prepare supporting audit documentation and ensuring processes are in place to deal quickly with issues.

Please reach out to me and my team to start the conversation around how EY’s audit readiness team to help you put your best foot forward.