Audit

Hi everyone!

We are doing our first audit with this system and our auditor is used to Quick Books reports. I'm trying to find a detailed GL that is comparable to what their company is used to, but the GL report CSuite pulls is not what they want. Has anyone had issues like this?

TracyLarimer

Comments

  • RosieSprangersRosieSprangers Posts: 7
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    Hi Jennifer!

    Could you give a little more information about what your auditors are looking for? I think a lot of our clients jump into the account record and then pull the GL detail by account for their auditors. Is that different from what your auditors are looking for? Thanks!

    KaraAdamsTracyLarimer
  • JenniferBrambleyJenniferBrambley Posts: 26
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    I pulled the GL detail, but they said it's not in the format they can use. They want the detail for each account/fund separated out. I've worked with my CM on other reports that may work. I honestly think the auditor just isn't used to the way it's formatted because it's a different system than they are used to. I wasn't sure if any other Foundations are coming across the same kind of thing.

  • RosieSprangersRosieSprangers Posts: 7
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    Let's see if anyone else weighs in - I always like to know what auditors are looking for!

    JenniferBrambley
  • MeghanWarrickMeghanWarrick Posts: 23
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    We are working on closing our year (April 30th). This will be our first year audited using CSuite. I don't have an answer for you, but am eager to see what others post. Good question!

    KaraAdams
  • JenniferBrambleyJenniferBrambley Posts: 26
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    @DoriWanitschke That's great! I've offered to give our auditor access so just waiting to hear back whether they will do that or not. Did you/they have to do any further detail in the audit report, or was it fully sufficient the way it exports?

  • AnnButterfieldAnnButterfield Posts: 11
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    We are just finishing our first audit in CSuite as well. Once they had access, and a tutorial, they were able to do most of the testing and validating they needed. For the audit report, it was helpful, but we still did most of the work with that report in order to export the info into our Net Asset Roll Forward workbook. We still have a week or so to go with the auditors but, so far, they like what they see!

    JenniferBrambleyTracyLarimer
  • DoriWanitschkeDoriWanitschke Posts: 2
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    Jennifer - So far they have been able to get what they need and have closed the fieldwork side of the audit. May need some additional info when doing the write up. Items I want to update before next year are scanning and attaching any vendor contracts such as our lease and copier agreement and coming up with a better way for the CEO to approve invoices. Right now I save the approved email as a pdf and attach with the invoice. Looking into using the "approved" stamp in Adobe as one option.

    JenniferBrambley
  • DestinyRojoDestinyRojo Posts: 1
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    edited September 2020

    @DoriWanitschke I would love more information on how you were able to do this. I think our staff accountant would really enjoy this to share with our auditors.

    MichelleGruhn
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