📊 How to Prepare for Your First Financial Audit | Full Send CFO

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📢 Facing your first financial audit? It can be daunting, but with the right preparation, you can navigate it smoothly. In this episode, we cover:
✔️ What triggers a financial audit and why companies need one
✔️ The CFO playbook for audit preparation
✔️ How to ensure your financials are audit-ready and avoid common pitfalls

⏱️ Chapters

00:00 - Introduction: Preparing for Your First Audit

00:56 - What is a Financial Audit?

01:44 - Common Reasons Businesses Get Audited

03:22 - CFO Checklist: Steps to Prepare for an Audit

06:08 - Ensuring Your Financials Are GAAP-Compliant

07:55 - Common Audit Delays & How to Avoid Them

09:45 - The Audit Process Explained: Planning, Fieldwork & Review

11:48 - Final Thoughts: How to Make Your Audit Painless

✅ Key Takeaways:
✔️ Financial audits aren’t IRS audits—they verify financial accuracy for investors & lenders.
✔️ Start preparing early—ensure financials are GAAP-compliant well before an audit is required.
✔️ Avoid common mistakes—messy records & missing documentation can delay the process.
✔️ A smooth audit requires clear financial policies & reconciliations—track everything!
✔️ 85% of financial audits result in a clean opinion—be in that group with proper preparation.

📢 Have you gone through a financial audit before? What was your biggest challenge? Comment below!

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