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Process & TimelineOur Audit Process & Timeline
A structured, step-by-step approach that keeps you informed at every stage. Typically completed in 2 to 6 weeks, depending on your company's readiness.
1
Planning & Engagement Letter
1–3 days- Initial meeting to understand your business operations
- Assessment of audit scope and risk areas
- Engagement letter outlining terms, timeline, and fees
- Assignment of audit team members
2
Request List & Walkthrough
2–5 days- Comprehensive document request list issued to your team
- Walkthrough of key business processes and controls
- Identification of key accounting policies and estimates
- Coordination with your accounts team on schedules
3
Fieldwork & Testing
1–3 weeks- Substantive testing of transactions and account balances
- Review of supporting documentation and third-party confirmations
- Evaluation of internal controls and compliance
- Testing of revenue recognition, expenses, and asset valuations
4
Findings Discussion
2–3 days- Presentation of preliminary findings to management
- Discussion of adjustments and reclassifications
- Review of draft management letter observations
- Resolution of outstanding queries and clarifications
5
Auditor's Report Issuance
2–5 days- Preparation of independent auditor's report
- Final management letter with recommendations
- Delivery of signed audit report and audited statements
- Post-audit debrief and next year's planning advice
Total Estimated Duration
Depends on company size and audit readiness.
What Delays an Audit
- Incomplete or unreconciled accounting records
- Missing supporting documents (invoices, contracts, bank statements)
- Delayed responses to auditor queries
- Unresolved prior year audit issues
- Complex intercompany or related party transactions
- Changes to accounting staff or systems during the audit
How to Speed It Up
- Complete bookkeeping and reconcile all accounts before the audit starts
- Prepare documents from our checklist in advance
- Assign a dedicated contact person for auditor queries
- Ensure the trial balance and financial statements are ready
- Resolve known accounting discrepancies early
- Provide timely access to systems and records
Be Audit-Ready
Review our checklist to prepare your documents, or contact us to schedule your audit engagement.