Why Audit in Tough Economic Times?

With the economy still struggling to climb out of its downward spiral, clients are struggling to cut costs every place that they can.  Some clients’ audit needs are dictated by Arizona State Statute, federal loans or grants, or some other outside stipulation.  For entities that may have a choice, why should they spend money on …

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A Few Simple Steps for Having a Successful Audit

There are some simple steps any entity can take to help make a financial audit as simple and painless as possible.  First, good cooperation between the client and auditor is essential.  Second is the client’s maintenance of a good system of internal controls over the financial activities occurring in the entity.  These things make it …

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How to Make Your Auditor Smile (Or Getting Organized for Your Audit)

Most financial staff members do not look forward to their annual financial audit.  I have met an exception to this, however, and here was her method for going into the audit feeling comfortable and confident.  Let’s refer to this individual as Sally. Sally began her audit preparation by using her normal monthly closing procedures which …

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