Three tips for accounting staff to have a good relationship with an audit firm

As an accountant, you want to have as good a relationship with an audit firm as possible.

However, I don’t think many people know more about audit firms.

For example, what kind of organization is the audit firm and what is it doing in the conference room? I think there are many things that are worrisome.

It is very important to build a good relationship with an audit firm in order for the accounting work to proceed smoothly.

This is because if you do not have much communication with the audit firm, you will be asked to correct the numerical values ​​when the accounting work is nearing the end, you will be asked to submit unnecessary materials, and unnecessary work will increase. Because it increases the possibility of becoming.

I think it is natural for accounting staff to want to have a good relationship with an audit firm.

Therefore, this time, I will give you three tips that you should know in order to communicate smoothly and build a good relationship with an audit firm.

table of contents

  • Hint 1. Know what the audit firm is doing
  • Hint 2. Understand what audit firms place importance on
  • Hint 3. Audit firms “use more and more”
  • Finally

Hint 1. Know what the audit firm is doing

The first tip for a good relationship with an audit firm is to know what the audit firm is doing.

I think that audit firms stay in the conference room most of the time, just by requesting materials and asking questions from time to time. As an accountant, what is the audit firm doing in the conference room? I’m wondering.

In fact, what the audit firm is doing is “examining whether the company’s disclosure documents such as financial statements and securities reports are properly displayed, collecting evidence of the examination, and analyzing the audit record. I’m silently doing things like “Create.”

In other words, basically, based on the materials obtained from the company and the information heard from the company, we are staring at the computer in the conference room.

 

Hint 2. Understand what audit firms place importance on

The second tip for a good relationship with an audit firm is to understand what the audit firm places importance on.

As an audit corporation, it is a passive stance in a sense that it judges whether the information and materials provided by the company are correct and prepares audit records based on them.

Therefore, for an audit corporation, if the materials and analysis results provided by the company match the audit record, a dramatically efficient audit can be performed.

As a result, it also leads to more efficient accounting staff.

In other words, from the perspective of efficiency, what the audit firm places importance on is “matching the company’s offerings with the audit records.”

Therefore, what you should do as an accountant is to confirm with the audit corporation what kind of materials and analysis results you should provide and prepare in advance.

This alone will dramatically change the efficiency of auditing.

Hint 3. Audit firms “use more and more”

The third hint for good relationships with audit firms is to “use more and more” audit firms.

Audit firms are basically passive, so if the accounting staff is passive, smooth communication may not be possible.

Then, as mentioned above, when the accounting work is nearing the end, you may be asked to correct the numerical values, you may be asked to submit unnecessary materials, and unnecessary work may increase, which may hinder efficiency.

Therefore, the audit corporation is successful from the accounting staff side, such as consulting the main points in advance, confirming the necessary documents, and requesting specific advice so that it will be efficient for the next term after the audit is completed. By utilizing, you can improve efficiency and obtain high quality audit and disclosure documents.

Finally

Audit firms are also human beings. By communicating smoothly, you want to do what you can for the company and the person in charge.

Keep these three tips in mind and try to get along well with your audit firm.

This should lead to more efficient and quality work for accounting staff.

 

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