Learn How To 意图dy Your Business For An 审计 And What Other Financial Reports Tell You
这篇文章是我们的小企业角系列的一部分, which is designed to address challenges and considerations regularly faced by owners of small- to mid-sized businesses. 查看过去的小企业角文章在 fxy.czeacn.com/small-business-corner.
Preparing for an audit can be overwhelming and time-consuming, 如果你还没准备好, you may experience issues and significant delays (maybe even additional audits!). 不要措手不及. If you adopt a “hope for the best but plan for the worst” mindset, you can be prepared for virtually anything at a moment’s notice, which is a particularly good way to come out on top if (and when) your business needs an audit.
成长的烦恼
As your business grows, you might find yourself in need of an audit. A little foresight will help ensure you have nothing to worry about.
- 申请实物盘存观察: Conduct a physical inventory if you think you will soon reach the point of having an audit. Completing this inventory observation will make the auditor comfortable with your inventory quantities right off the bat, allowing them to provide a complete report on your balance sheet and income statement. 也, 事先进行实物盘点观察, you could potentially avoid a scope limitation in the audit report for the current year’s income statement.
- 提供对账单和账户摘要: The reconciliations and account summaries of the opening balance sheet and the current year in which you need an audit should also be readily available. This helps the auditor review your balance sheets while avoiding the hassle of trying to reconcile information back to the trial balances.
- Prepare Control Narratives Of Significant Transactions Cycles: Documentation of your significant transaction cycles such as accounts receivable and accounts payable information should be readily available. An auditor needs to understand the significant transaction cycles and key controls that are in place, 以及每个员工在企业中的角色. 此外, 将进行演练, so it’s important to have your team available to assist the auditor.
- 团队的可用性: Having your team accessible during the audit process is vital. There will be plenty of questions and discussions that occur throughout the audit. With a significant collaborative effort, the time and cost of the audit can be greatly reduced.
不要害怕审计
听...... 集110: “How To Prepare For A Painless 审计,” featuring James Moore, on 不适合在意图电台播放，我们获奖的播客.
你的财务报告告诉你什么?
根据你的需要, you have a few different options available to address your business’s financial statements. 例如, the following reporting options may be valuable to you if you just need a financial statement that is not audited:
- 财务报表编制: 根据AR-C第70条, an accountant may prepare your business’s financial statements (which is a non-attest service) without issuing a formal report. 通过这项工作, your CPA takes your financial information and provides a clean financial statement in accordance with a specified financial reporting framework such as accounting principles generally accepted in the Unites 状态s of America (U.S. GAAP) and indicates that no assurance is provided on the financial statements. It’s important to note that even though this is a cost-effective approach, your CPA isn’t required to make a determination regarding independence and doesn’t have to verify the accuracy and completeness of the information provided by management.
- 编译工作: With a compilation, the financials will be accompanied by a written report. Similar to general financial statement preparation, your CPA doesn’t need to be independent. In cases where they are not independent, the report should be modified. 另外, the report is required to indicate that the financials were not audited or reviewed, and that the accountant does not express an opinion on the financials. Compilation work requires an accountant to understand the client’s business and industry. This can be another cost-effective way for management to have a clean financial statement with a report from a CPA to utilize internally or for external purposes.
At the end of the day, your needs will be determined by what you need your financial reports to do. 通常, management is just looking for a basic financial statement that ties into their tax return as part of their year-end reporting, or maybe you need a clean statement to provide to third parties such as a bank. Either a preparation or compilation engagement may be viable options. You’ll need to think about the extra cost associated with having a compilation report signed by your CPA. Understanding your options when it comes to your business’s financial reporting and preparing for an audit is important for long-term success. Taking action to prepare your business for financial reviews will help avoid any headaches down the road. 打216给我.573.9051 or 给我发邮件 to learn more about your options and how you can start preparing for an audit.
唐·格拉斯勒，注册会计师(克利夫兰办事处)