2. Preparing for an Audit

3. Warning. Take proper precautions.
(said in quiet voice with hair on fire:)
Psst, the auditor’s here, everybody hide.

4. It’s not THAT bad
We’ve probably all heard (or made) auditor jokes, (see previous slide) but…
Your auditor should be viewed as a resource, not an adversary
The annual audit can provide valuable information for improving company processes

5. Advance Preparation Plan ahead Learn from the past
Assess changes in company activities
Organize data
Be familiar with PCS data and reports
Perform a self review

6. What do you want? What information will the auditor ask for?
Can any of this be provided ahead of time?
What can be harvested from the Insight database vs. external data such as source documents, spreadsheets, etc.

7. Help from PCS When is the audit scheduled to take place?
Same or different audit firm from prior years
Do they provide questions ahead of time?
If not, can they?
Calls to PCS the day the auditor is there often presents a big challenge. We may have to do research. And working on can’t-drop projects.

8. Some commonly used reports
GL financial statements
GL detail reports
Subsidiary reports
AP vendor balance by period
AR Period Balances report

9. Sources
Dr. Google Dot Com

10. Mission Statement
Our mission is to assist utilities to be successful by providing high quality solutions.

11. Confidentiality Statement
Professional Computer Systems, Co. (PCS) holds this presentation to be proprietary and requires all readers hold the information it contains in strict confidence. The material is provided to assist in evaluating PCS’s application as it pertains to meeting your business requirements. No copies or other distribution is permitted without prior written approval from PCS.

12. Professional Computer Systems, Co.
3710 Timberline Drive
Denison, IA
(712) (712) Fax