In preparation for a required audit, our client needed to convert its financials from cash basis to generally accepted accounting principles, prepare support schedules, reconcile accounts and prepare draft financial statements.
With accounting experience and expertise on their side, the Baker Tilly team systemized the client’s books and records and developed supporting schedules and balance estimates through an auditor’s lens to ensure the materials were thorough and accurate. Baker Tilly proactively gathered the necessary documents in support of account balances and communicated to the client the anticipated requests that it would expect to see from the auditors based on the client’s business, financials and state of records. After ensuring accuracy in the client’s books, Baker Tilly served as an intermediary between the client and auditors. Baker Tilly facilitated this process by communicating directly with the auditors and addressing audit questions instead of having the client do it, saving the client valuable time and resources.
With Baker Tilly serving as its advocate throughout the entirety of the audit, the client was able to refocus on day-to-day responsibilities and could rest assured the auditors were provided with timely, accurate information. Baker Tilly’s tailored, collaborative approach resulted in an efficient, successful audit for the client, without the additional expense of utilizing or hiring in-house audit personnel.
For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.