SERVICING THE BUSINESS OF PUBLIC SERVICES - SOLUTIONS YOU CAN AFFORD
TOM JOSIAH CONSULTING, LLC
Middletown, DE 19709
ph: 302-559-2593
teejaycp
Audit Preparation Academy
For those of you willing to be proactive and ready to take the challenge to your auditors by yourself and let them know that you are ready for the audit, there is of course what I call Audit Prep Academy.
How It Works
The first time I come in I will:
In the first year, I will work closely with you as we approach fiscal year end preferably beginning February (for june 30 year ends) or can be structured as appropriate. I will come in and assist you to ensure that your:
At year end you are 75 percent almost ready for the audit. All you need to be concerned about is your accruals for accounts payable and accounts receivable and preparing your financial statements and capital asset schedules for financial statement purposes and other related schedules. We will work together to prepare your fund level financial statements and entity wide level statements and other reports as needed.
After fiscal year end we will work together to ensure that you have properly accrued for payroll and accounts payable expenditures and also revenue accruals.
Implementing this process will allow your government to keep its financial records up to date on a timely basis. Your Business Office will also be able to prepare in house for the audit without much external help from consultants like myself. Also, note that your involvement in this process will help keep my time to a minimum. This way, you can easily start managing your audit costs.
The success of this process will depend highly on whether you can maintain this process throughout the year and not just at fiscal year end. The process will get better over time through continuous implementation of these practices. The individual taking on this responsibility should expect to get better at this process over time and not expect to be perfect after one year.
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TOM JOSIAH CONSULTING, LLC
ALL RIGHTS RESERVED
TOM JOSIAH CONSULTING, LLC
Middletown, DE 19709
ph: 302-559-2593
teejaycp