Challenge: Significant Audit Fees Incurred
Handled inquiries and follow-up questions during the audit process. We also acted as the main point of contact for the auditor during the remainder of the process so their management team could get back to focusing on their day-to-day responsibilities.
ROI: Could Have Eliminated $30,000 in Unnecessary Audit Overrun Fees
Best Practices for Minimizing Audit Overrun Fees
- Get your financial and business records in order prior to the start of the audit.
- If you do not have an experienced accounting department, consider hiring outsourced assistance to ensure the process is organized and performed in a timely manner.
- Ensure management and internal staff are fully committed to the audit process and understand the expectations.
- Identify areas where assistance may be needed especially relating to complex U.S. GAAP accounting guidance to avoid delays.
Whether you are preparing for your first annual audit, or are dreading an upcoming audit because you have incurred significant overages and delays in the past, Signature Analytics can help. Contact us today to schedule a free consultation with one of our CFOs.