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Make it a highly productive one. Ensure workpapers are complete and everything ties out before auditors arrive for fieldwork. Receive notifications when balances have changed so you never provide out of date PBC support again. Show auditors you have adopted software to enhance controls and manage corporate governance.
Reduce your team’s time spent responding to PBC requests, and cut length of fieldwork, by providing restricted access for auditors to review documentation at your discretion. The more they can rely on software controls, the less they test manually. It’s hard for them to continue running up billable hours when you’ve just made it easier for them to do their job, all while making yourselves stand out amongst your peers.
Provide date and time-stamped preparer and reviewer sign-offs. Unique user roles and associated access rights enforce segregation of duties. Folder locking enforces concept that all work is complete, and no further adjustments are allowed. Activity is tracked in audit logs. Additional preventive and detective controls exist to mitigate risk. Compliance documentation provides auditors comfort with FloQast controls.
Assure all tasks and reconciliations have been fully prepared and adequately reviewed. Completeness check confirms all actively reconciled accounts in the ERP are reflected in FloQast. All supporting documentation is centralized for ease of review. Review Notes capture qualitative evidence of review between management and staff. Automatically roll-forward reconciliations to following period, ensuring consistency and accuracy of assumptions made within reconciliations.
“FloQast helps our accounting team spread across multiple time zones know what to do next, stay on schedule, and ensure that the close is complete.”
SVP Corp. Controller