From the course: Preparing for an Audit

Pulling together the data you need

From the course: Preparing for an Audit

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Pulling together the data you need

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- When you're working with an independent auditor they're going to let you know what documentation they want from you. This will usually come in that prep pack or be discussed at the pre-audit meeting. In general, the data collection they're going to be most interested in will relate to a few key areas. Most importantly, are the financial statements. This is what the independent auditor is really validating. But the auditor will also likely be interested in tax records, as well as other paper and digital records regarding transactions, asset ownership and other topics. The independent auditor will let you know what they need but having some of this documentation already together, and having reviewed it, even if you don't do a full internal audit, can be very helpful to making sure that an independent audit goes smoothly.

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