How to Take the Pain Out of Auditing in Fast-Growing Businesses

Posted by Thomas Sutter, Financial Centre of Excellence
An audit feels like the acid test for a business’ finance function – if you pardon the accounting pun.
For a growing business, one that is changing rapidly and where the finance team is working hard to manage cash, the audit often feels painful. Nascent, or evolving, systems and processes mean that the tough questions asked by auditors aren’t always answered easily or quickly.
So, shortening the audit process can help to drive improved data transparency and comparability. Auditors will bill fewer hours because the information they receive can be better analysed and discrepancies or outlying patterns or figures addressed.