Statutory Audit - Step 1
Step 1: Plan it well: This is the most important part that most people forget. It is important to understand how well the auditor knows your company and business. A detailed study can help you deal with potential issues and problems early. The more the auditor understands your company, the easier it gets for you. So, to help the auditor know you better, you may have to provide the following details. – The corporate structure including the history, locations, and the market share of your company. – Operations comprising services, products, marketing, and processing – Financial statements, accounts, liquidity, stocks and shares, etc.
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