With the audited financial statements finally issued – at least for most companies having a calendar year (Dec. 31) year end, the 2016 external audit has come to an end. Let’s reflect on the lessons learned and hopefully minimize the pain of next years external audit.Know the type of auditor you are dealing with and their scope. Choose your Sarbanes-Oxley (SOX) controls wisely. Identify the risk, identify control(s) that you implemented to mitigate the risk and test those controls.”]
Source: https://www.csoonline.com/article/3053530/reflections-on-the-2016-external-audit-season.html