As a small, private company, we would like to get our first audit. To do so, we have to select an audit firm, clear up some historic numbers, and implement controls. Would like to learn from folks who went through the same route - best practice of
Preparing for audit
Answers
I would ask your competitors/customers in the same industry who they use.
Having a firm w/ industry experience is a plus.
The State
A smaller local firm should be less expensive, but they may not have the expertise.
Select 3 firms, provide them the same information, and have each present
You can then do a matrix and select
To add a bit to Mark's statement, a large firm will definitely be more expensive, may not really have the expertise (exactly who does the audit) and can be over the top and their findings which will "churn" the bill.
I'm sure you know others in the industry as Mark said, ask them. As for asking the State Society, that will give you the name of the firm that schmooze the Society staff, not necessarily the right firms.
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