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Session 22 | Audit Readiness: How to Get Prepared

Session Summary

This session provides a brief overview of the financial reporting requirements within Florida, including the effective date and optional extensions, electronic submission due dates and extension options, and audit requirements, including the option to submit consolidated financial statements. In addition, presenters will discuss how organizations can take advantage of the option to present consolidated financial statements and will walk through the technical requirements that permit the presentation of consolidated statements. Key elements of a consolidated financial statement, including the independent auditors’ report, the required presentation of financial information, and key footnote disclosures will also be discussed along with best practices for preparing for your audit and getting your accounting team ready for audit requests.