How do I prepare for a regulatory audit?

How do I prepare for a regulatory audit?

Preparing for a regulatory audit involves several key steps. First, ensure all your documentation is up to date. What specific area are you being audited on?

We're being audited on our financial practices.

Great! For financial audits, make sure your financial statements are accurate and that you have all supporting documents ready. Have you conducted a pre-audit assessment?

Not yet, what does that involve?

A pre-audit assessment involves reviewing your financial records and compliance with regulations. It helps identify any potential issues before the actual audit. Would you like tips on how to conduct one?

Yes, that would be helpful!

To conduct a pre-audit assessment, start by gathering all relevant financial documents, then compare them against regulatory requirements. It's also useful to involve your finance team in this process.