There are a few easy steps a restaurant owner can take to prepare its restaurant for the annual financial statement audit. Reviewing the process and individual steps ahead of the audit will minimize interruptions to day-to-day operations and alleviate back-office staff’s concerns about having the proper documentation and related materials ready when requested by the audit team.
Restaurants have unique accounting concerns to be aware of, and address, in a timely manner. Being aware of the issues allows you to know whether a potential issue exists and gives you the time to seek consultation with your auditors so the issue is addressed timely.
We have provided a list of steps to follow which can get your team as prepared as possible for audit work. Click here to read the full article.
