What Audit Management Covers
Owning the audit process end-to-end
Running the audit from the organization's side of the table, including the schedules, the requests, and the timeline.
Auditor relationships
Managing the external auditor relationship so questions are answered once, by the right person, with the support attached.
Workpapers and schedules
Assembled through the year as the transactions happen, so fieldwork has something to stand on.
GAAP and regulatory compliance
GAAP, state, and Medicaid and Medicare reimbursement compliance maintained as a standing discipline.
HCAI and OSHPD reporting
California HCAI reporting, formerly OSHPD, including responding to regulator inquiries.
Audit controls and risk
Expense approval frameworks, financial controls, and the operating discipline that keeps findings out of the report.
How Audit Work Is Sequenced
Audit readiness is a habit to be consistently implemented rather than a project to be completed. The first year is heavier because frameworks are being built: the schedule structure, the control points, the calendar keeping support current through the year. After that, the annual cycle is mostly maintenance. The audit itself stops consuming the finance team’s autumn.
Common Questions
Do you perform the audit?
Do you do tax preparation?
What is HCAI?
Our audit is in eight weeks. Is it too late?
Does this reduce findings?
Owning the audit is what keeps the external auditor relationship functional. The alternative is discovering in fieldwork what should have been settled in March.