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It happens every year. Year-end is quickly approaches and that means putting the financial statements together and getting everything ready for the auditor. You can't avoid it, but you can make it an easier and less stressful. This course will look at every section of the balance sheet, income statement, cash flow statement, and the notes in order to anticipate what the external auditor will ask. The amount and type of documentation will be suggested for helping the auditor.

Getting ready for the auditor means knowing the basics the auditor will ask for and then being prepared for the follow-up questions that are sure to come up. In addition, you should be ready with that documentation. You should know what an auditor considers an adequate sample that will be representative of the section of financial information being examined. On top of that, you should look for exceptions that you will have to explain and justify. This is especially useful if interaction with management will be needed.

Although auditors are used to people waiting until the auditor asks them for information or documentation, getting and staying a few steps ahead will not only shorten the duration of the audit, but it will foster an atmosphere of cooperation and is more likely to have the auditor trust the financial information and documentation more readily.

There is nothing like the experience of being audited to teach you how to get ready for the next time. However, knowing how an auditor thinks and what they are looking for is very valuable. A good audit means less headaches, a more reliable financial statement that serves shareholders, potential investors, lenders, and other external users such as regulatory bodies.

Since public companies have no choice but to go through an external audit, why not learn a few tricks to make it faster and less work?


Attend this session and learn the secrets of preparing for the audit and doing it quickly and easily. We will help you prepare a Year-end "must-do" items checklist covering those "special" areas the auditor always checks. You will be differentiate between the process of analyzing a GAAP financial statement and an IFRS financial statement. You discriminate between the two types of accounting methods by examining the balance sheet, income statement, cash flow statement, and notes on a line-by-line basis using an auditor's point of view. You will anticipate what information and documentation the auditor will require. You will judge the amount of time and effort you should invest in preparing for the audit. You will know what items should be discussed with management in advance so they can get ready for questions that the auditor will ask them directly. You will be aware of your firm's accounting policies and how they are applied. You will be prepared to discuss confidentially and accounting irregularities with the auditor and be ready with any supporting documentation. You will recommend any worthwhile improvements in the accounting function. You will keep your accounting qualifications up to date to provide the best possible return on your employer's investment in your education and skills. 


  • Key information and documentation the auditor always wants
  • What else could the auditor ask for?
  • How much should you tell the auditor?


  • What not to say to the auditor
  • Knowing what the auditor will ask your boss and be ready
  • Getting ready in case the auditor asks you details about your organization's accounting policies


  • CEO/CFO
  • Board members
  • External auditors
  • Compliance professionals
  • Operational professionals
  • Finance professionals
  • Internal auditors


Mike Morley is a Certified Public Accountant who holds the top credit designations in the US, and Canada. Mike is a recognized authority in the field of finance with more than 25 years’ experience in both consumer and commercial credit and collections. An entertaining and informative speaker and trainer, Mike is the author of:

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

 “IFRS Simplified”, which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

“Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

View all trainings by this speaker
 
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