What a month it has been, right? We couldn’t have imagined our world and the way we work to literally change overnight, but we have seen just that.  Local government finance departments saw priorities and “business as usual” change almost immediately.  This time of year, priorities are usually focused on the upcoming fiscal year budget.  And, of course, looking forward to LSL’s amazing Annual GASB Update Event!  However, things are different now and we’re all adapting to this new way of life.

As priorities and work are ever-changing, we have been so impressed with how our clients are juggling the current situation and still managing to get the “normal” stuff done, too, including the interim audit.

To help get you through your new remote interim audit as pain-free as possible so you can focus on your team and community during this time, here are some helpful tips:

  1. Make sure to get, well in advance, the list of items needed for the audit “PBC List”. Set up a meeting to review the PBC list and make sure you are on the same page with the auditor.  Also, use this as an opportunity to discuss your current operating environment and the best way to communicate with you and your staff.
  2. Schedule interviews that the auditor needs to conduct well in advance and calendar the appointments with your staff. Test the meeting software (Zoom) with your team to ensure proper functionality before the appointment.
  3. Provide auditors access to computer systems. If you are not already doing so, see if it is possible to provide guest access to your ERP system either online or through remote services.
  4. Look to get audit sample selections in advance of remote fieldwork to allow ample time to pull and scan (if needed) necessary files and information. If your documents are already electronic, see if your auditor can obtain guest access to obtain the samples directly.
  5. Set up entrance conference and include all key finance members so your team is informed on the new audit process and schedule.
  6. Talk to your auditor about any limitations and availability of people or information during this time. If you have modified any procedures or control functions during this period, let your auditor know that, too.
  7. Look to get an update from the auditor daily during the planned remote fieldwork on progress and what is still needed. Communication is key, especially when we are not face-to-face every day during the audit.
  8. Know that we are here to help. Do reach out to us if you need anything!

We are optimistic that we will get through this soon and look forward to when we can meet face-to-face again.  In the meantime, we’ll continue to do what we love best: being a resource for you.

By the way, LSL GASB Update is going virtual. We’ll be providing you resources and information soon. Visit LSL’s dedicated GASB page HERE  to learn more.  See you soon!