From the course: Preparing for an Audit
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Adapting as necessary
- The result of an independent audit is the independent auditor's opinion. And that opinion might be or might not be what you're expecting. The important thing here is that if there is an issue uncovered during the audit that you make changes and don't just accept it and move on. Even things like auditor notes in an unqualified on an opinion should be addressed so that there aren't further concerns in the future. There are usually a few areas where you might want to consider adapting after an independent audit. Of course you want to make changes to avoid future qualified or adverse audit opinions, and then might include addressing and fixing data issues, control issues or other areas where the auditor has expressed a concern or made some notes. The important takeaway here is after the independent audit is done, there's still work that you'll need to do in preparation for audits in the future.
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