Audit Preparation and Management

Being Prepared

The fight is won or lost far away from witnesses - behind the lines, in the gym, and out there on the road, long before I dance under those lights.

Muhammad Ali

Preparing for and managing the audit process can have a great impact on the end result. Our experts have been through the audit process in a wide variety of industries and organizations. Our team working with your team can streamline the audit process and cut the cost of audit by effectively managing the process.

Improving Audit Results

Thorough preparation for your audit can have a dramatic impact on the outcome. Often, organizations will tap an internal resource to handle audit preparation, usually on top of their already full work schedule. Typically that person may not have an audit or compliance background, they are usually chosen because they are available.

By leveraging Practical Compliance Initiatives experience in preparing for and managing audits, you can improve your results and shorten the preparation time, while minimizing the impact to your organization. An expertly prepared and presented audit package will help move the audit through in a more timely and cost effective manner. And having an expert in dealing with auditors serve as your interface to the audit team can squeeze even more cost efficiencies and better results out of your audit.

Cutting Audit Costs

Our auditors are paid by the hour, and they usually work in a team, which results in a pretty high hourly cost. The simple math says that if we can get them in and out with what they need to do their job in a shorter amount of time, we're saving money.

Our Audit Management offering is based on the idea of spending smart dollars. If we can spend a hundred dollars up front in preparation, we can save thousands in audit team costs.

The Practical Method

A key component of our process, the Practical Method, is efficient preparation and audit management. Based on our experiences in a wide variety of audit scenarios, we have built into our process a structure method for collecting, compiling and preparing audit information up front, and a method for managing the audit process to ensure the best possible results.

Audit Preparation

Our audit preparation services can be a short review of your audit program to a full walkthrough and documentation of your processes and controls. We work with each of our clients to carefully develop an audit plan that meets the needs of the organization and the budget.

Audit Liaison

Having a seasoned professional serve as the interface between your organization and the audit team can have a significant impact on your audit result. We have a member of our team work with your team on the preparation and then fully engage with your audit team at audit time. Our compliance specialists are experts in translating 'audit speak' into real world terms that the rest of the organization can understand.