登录查看更多内容

You’re working with auditors in Financial Services. What are the most important things to remember?

由人工智能和领英社区提供技术支持

Working with auditors in Financial Services can be a challenging but rewarding experience. Auditors are independent professionals who examine and verify the financial statements, records, and processes of an organization. They provide assurance, insights, and recommendations to improve the quality and accuracy of financial reporting. As an executive in Financial Services, you need to understand the role and expectations of auditors, and how to collaborate with them effectively. Here are some of the most important things to remember when you’re working with auditors in Financial Services.

在这篇协作文章中查找专家回答

由社区从 2 条内容中精选。了解更多

1 Know the standards

Auditors follow various standards and frameworks to conduct their audits, such as Generally Accepted Auditing Standards (GAAS), International Standards on Auditing (ISA), or the Public Company Accounting Oversight Board (PCAOB) standards. These standards guide the auditors on how to plan, perform, document, and report their audit work. You should familiarize yourself with the relevant standards that apply to your organization, and how they affect the scope, objectives, and procedures of the audit. This will help you prepare for the audit and address any questions or issues that may arise.

添加您的观点

加载更多内容

2 Communicate clearly

Communication is key to a successful audit. You should establish a clear and open communication channel with the auditors, and assign a point person or a team to liaise with them throughout the audit process. You should also provide timely and accurate information and documentation to the auditors, and respond to their requests and inquiries promptly. You should avoid withholding or misrepresenting any information that may affect the audit outcome, as this may damage your credibility and reputation. You should also communicate any changes or events that may have an impact on the financial statements or the audit, such as new transactions, contracts, policies, or regulations.

添加您的观点

3 Cooperate fully

Cooperation is essential to a smooth and efficient audit. You should cooperate with the auditors and support their work by providing access, resources, and assistance. You should also respect their independence and objectivity, and refrain from influencing or interfering with their judgment or opinions. You should also be open to feedback and suggestions from the auditors, and consider their findings and recommendations as opportunities to improve your financial reporting and internal controls. You should also resolve any disagreements or disputes with the auditors professionally and constructively, and seek mediation or arbitration if necessary.

添加您的观点

4 Learn from the audit

The audit is not only a compliance requirement, but also a learning opportunity. You should use the audit as a chance to gain insights and perspectives on your financial performance, risks, and opportunities. You should also review the audit report and the management letter, which contain the auditor’s opinion, observations, and recommendations. You should evaluate the audit results and identify the strengths and weaknesses of your financial reporting and internal controls. You should also implement the necessary actions and improvements to address the audit findings and recommendations, and monitor and report on your progress.

添加您的观点

加载更多内容

5 Maintain the relationship

The relationship with the auditors does not end with the audit. You should maintain a good and ongoing relationship with the auditors, and keep in touch with them regularly. You should also appreciate and acknowledge their work and contribution, and provide feedback and evaluation on their performance. You should also update them on any changes or developments that may affect your financial reporting or the next audit. You should also seek their advice and guidance on any financial or accounting matters that may arise, and leverage their expertise and experience.

添加您的观点

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

添加您的观点

Financial Services

+ 关注

给文章评分

我们借助人工智能创建了此文章。您认为这篇文章怎么样？

很棒不太好

举报此文章

查看全部

You’re working with auditors in Financial Services. What are the most important things to remember?

1

2

3

4

5

6

1 Know the standards

2 Communicate clearly

3 Cooperate fully

4 Learn from the audit

5 Maintain the relationship

6 Here’s what else to consider

Financial Services

给文章评分

感谢您的反馈

更多Financial Services相关文章

更多相关阅读内容