Why Audit Readiness Matters
An audit is a stress test of your financial health and internal controls. Being prepared signifies operational maturity and transparency to stakeholders.
The Preparation Checklist
Start by reconciling all bank accounts and credit cards. Ensure all major transactions have supporting documentation readily available.
1. Documentation Organization
Create a digital repository structured by financial year and account type. Consistency is key.
2. Internal Control Review
Document your processes for approvals, payments, and revenue recognition. Auditors need to understand the 'how' as much as the 'what'.