Audit Prep
In Washington State an audit is required every 2 - 3 years or if you have expended over $500,000 in federal grant &/or loan monies you will be required to have a "Federal Single Audit" within 8 months of the close of the fiscal year that you exceeded this threshold.
Audits can be one of the single most stressful and time consuming activities facing your government entity. Advanced preparation and organization is the first step to having a successful audit.
Our focus for the training will be to ensure that you are prepared by looking at the following audit areas:
· Records Management
· Financial Statement Accuracy
· Financial Reporting
· Fund and Bank Reconciliation
· Cash Handling Practices
· Accounts Receivable and Payable
· Support Documentation Review
· Public Works Projects
· Small Works process
· Bid compliance
· Federal Single Audit Preparation if applicable
· Small and Attractive Asset Tracking
· Review of Prior Audit Exit, Management, or Findings
Using the checklists and tools that we have prepared for this process, we can help you get ready for a successful audit by evaluating your controls, files, and support documents. Audit Prep .pdf