Exit conferences are strategic ways of keeping everyone on the same page as the audit moves into its final stages. They can be used to solidify timelines, tie up loose ends, and exchange contact information to help keep the process running smoothly.
It takes a lot of effort to request proposals, interview, and choose an auditor to keep your organization compliant. However, coming to proposal meetings underprepared can cause more hassle and extra work than spending a little more time up front to ensure everyone’s on the same page. We’ll walk you through some practical steps to help you make the most of proposal meetings with CPA firms.
As of December 31, 2017, partners who sell more than 50% of their interest in a 12-month period no longer have to file a technical termination. This simplifies the tax filing process throughout the year, but organizations should keep their tax preparer informed of these changes so they have up-to-date information for next year’s return.
Your organization’s yearly audit is a true team effort. While your auditors work hard to review and test your financial information, you work hard to keep up with their requests. Spending time up front to prepare for your auditors’ visit can help speed up and simplify the auditing process.
Auditors quote prices in many different ways. Knowing the advantages and disadvantages of the most common fee structures can help your organization save time and make a better decision according to your preferences.