How do I prepare for an upcoming audit?
An example of an AI chatbot conversation about preparing for an audit.
How do I prepare for an upcoming audit?
Preparing for an audit involves several key steps. First, gather all necessary documents like financial statements and tax returns.
What specific documents should I have ready?
You should have your balance sheets, income statements, cash flow statements, and any relevant contracts or agreements.
How far in advance should I start preparing?
It's best to start preparing at least a few months in advance to ensure you have everything organized and ready.
What if I find discrepancies in my records?
If you find discrepancies, address them immediately. Consult with your accountant to correct any errors before the audit.
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