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hi. it is a very good forum to share queries related to finance. i am a finance assistant in an organisation. its my first year and i came to know that soon auditors are comming for an audit. i am very nervous about it. can any body help me what i have to do to satisfy them. my record is complete but i dont have any checklists
I will suggest you some basic rules. firstly take out last year audit file and auditors report alongwith any observation. study them and check current year record with them. correct all mistakes which were present in last year. now on same basis check your record again. you must also make good relation with auditor and brief him that its your first year and you are welcome for any queries from them. i hope it will be ok for the audit. main theme is that is you are honest you have nothing to fear
yes i agree with Muhammad, if you are honest and followed main and basic rules no one can harm you. just make some reconciliations which will give you more safety like bank reconciliation with cash book and cash flow statement.
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