Recently, I helped an organization prepare for their annual audit–a daunting process for any business. They were short staffed and needed an independent worker who could contribute their accounting knowledge on a short-term basis–the audit itself was to be performed by a different CPA firm. I worked closely with the CFO to reconcile accounts, make journal entries, prepare schedules and gather supporting documentation requested by the auditor.
Benefits of Employing a “Supporting” Accountant
Barnes Dennig understands the demands that a financial statement audit puts on management and the entire organization, and who better to help an organization prepare for an audit than an experienced auditor? In this instance, I was able to offer the accounting knowledge and expertise of an auditor, the professionalism of a businessperson, and the flexibility and time commitment of their most dedicated employee as I worked onsite.
A fresh set of eyes can unveil inconsistencies or errors. The auditor perspective streamlines preparing for the audit as well as providing the outside auditor with the appropriate information to make the audit run smoothly.
During this project, I built a great working relationship with the CFO and his supporting staff, detected and corrected accounting errors, and noted a mistake in how the company was recording its accounting entries; this allowed them to obtain additional funds from one of their funding sources. The most valuable service I was able to offer was in my ability to be a second go-to person in addition to the CFO. I was able to field questions and make accounting judgments so the CFO could free up some of his time for other matters.
The Barnes Dennig Advantage
The knowledgeable and experienced accountants at Barnes Dennig can offer invaluable insight and peace of mind leading up to an audit. To find out more about this service, click here to contact us.