How to prepare for a Financial Audit

Good preparation is one of the most important factors in ensuring a successful and efficient audit. Organising documents in a timely manner and having clearly defined processes can significantly speed up the financial statement audit.

The first step is to review the accounting records and reconcile the general ledger, subsidiary ledgers, and relevant financial documentation. It is important to ensure that the financial statements have been prepared in accordance with the applicable accounting standards and that supporting documentation is available for business transactions.

You should also identify in advance the people who will work with the audit team during the engagement. Prompt responses to requests and easy access to key information can significantly improve the efficiency of the entire process.

An audit is not just about checking the figures. Auditors often also review the internal control system, risk management processes, and financial reporting practices. It is therefore useful to identify in advance any areas that may require additional explanations or documentation.

Thorough preparation helps the audit run more smoothly, reduces the administrative burden on employees, and contributes to a more successful audit engagement.

In our article on key developments, we highlight the most important information you need to know.

Although the conclusions remain largely relevant, it is important to note that, following these amendments, a new Audit Act was adopted in December 2025, further regulating certain matters. When applying the relevant legal provisions, organisations should therefore take into account the legislation currently in force and its latest amendments.

Preparing for an audit does not have to be complicated. If you need support with reviewing documentation, reconciling accounting records, or planning audit activities, our experts are here to help.

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