Dr.M.Subramanian commenced his lecture and outlined the role of auditors for start ups. A financial audit essentially entails a close examination of a company’s financial records and transactions, with the primary goal of confirming the accuracy and integrity of your financial statements and accounting practices, and their compliance with GAAP. And, of course, by confirming that your records paint a truthful picture of your startup’s financial position, the audit ends up being an important component — if not a prerequisite — of everything from raising capital and building your credibility with stakeholders (e.g., investors, lenders, customers) to risk management (e.g., an audit might bring to light inadequate financial controls or tax non-compliance). Keep in mind that financial audits, while possible to conduct proactively, are also often required in compliance with regulatory requirements or contractual obligations, so it’s important to understand your startup’s unique position and expectations around audits — beyond simply doing it for the purposes outlined above. 56 students attended and got benefitted by this program.
