# How audit-ready is your company? Interactive tool · The Audit-Ready Company Fifteen statements across the five areas that decide how an audit goes. Rate each one honestly, and the diagnostic will show where your exposure is concentrated and what to fix first. 15 statements 5 areas 4 minutes Your answers stay in your browser. Nothing is stored or sent. Accounting judgements Our significant estimates (credit loss, leases, provisions, revenue) are supported by written memos that cite the relevant standard. When a contract is signed or renegotiated, finance assesses its accounting before the first transaction is recorded. Management overlays and adjustments to model outputs have a stated basis and a condition for their release. Close and reconciliations We produce complete monthly financial statements within six working days of month end. Balance sheet reconciliations are prepared and reviewed on a documented, risk-based frequency. Post-close adjustments are rare, tracked, and traced back to the process that caused them. Controls and audit trail We know every system that creates or changes accounting records, and each one keeps an audit trail that cannot be disabled. Direct database or administrator changes are restricted, logged, and periodically reviewed. Key controls over financial reporting are documented and tested before the auditor tests them. Group and structure Intercompany balances agree across entities every month, without manual plugs at year end. Transactions that change ownership or control are analysed for their accounting before they close. Related party transactions are identified, approved, and supported as being at arm’s length. Audit process The PBC list is agreed with the auditor well before fieldwork, with a named owner for every item. Draft financial statements, with tie-outs to the ledger, are ready when fieldwork begins. Last year’s audit closed on schedule, without significant late adjustments. 0 of 15 answered Your progress 0 of 15 statements answered 1. Accounting judgements · 0 of 3 answered 2. Close and reconciliations · 0 of 3 answered 3. Controls and audit trail · 0 of 3 answered 4. Group and structure · 0 of 3 answered 5. Audit process · 0 of 3 answered ## From The Audit-Ready Company series [All insights](https://soniassociates.in/insights#series) Article · The Audit-Ready Company ### [The audit trail requirement is a control, not a software setting](https://soniassociates.in/insight-audit-trail-edit-log) August 26, 2026 · 10 min read Article · The Audit-Ready Company ### [Selling a majority stake mid-year: consolidation through a loss of control](https://soniassociates.in/insight-loss-of-control-consolidation) August 12, 2026 · 12 min read Article · The Audit-Ready Company ### [What lease accounting demands after the adoption project ends](https://soniassociates.in/insight-ind-as-116-lessees) July 8, 2026 · 10 min read --- Soni Aditya & Associates, Chartered Accountants. Office No 502, Unit 507, 5th Floor, 45 Baner Street, Baner, Pune, Maharashtra 411045, India. aditya@soniassociates.in · +91 93400 75288 · https://soniassociates.in/contact This website is published for general information, in keeping with the guidelines of the Institute of Chartered Accountants of India on members’ websites. It does not advertise or solicit work, and nothing on it is professional advice. Publications reflect the law and standards at the date they were written, so please take advice on your own facts before acting. Client engagements described here are anonymised. Site index for agents: https://soniassociates.in/llms.txt Canonical page: https://soniassociates.in/audit-readiness-diagnostic