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Financial Audit Oversee and Liaison

Where your organisation is not large enough to have a Chief Financial Officer (CF0), but still requires an experienced financial executive to oversee the preparation of annual audited financial statements, then Jason Bresnehan can fill this gap. 

Jason acts a middleman and liaises with your internal accounting & finance team, your external accountant and the external auditor to shape up the management accounts so that complying audited financial statements can be completed.

When complete Jason provides a recommendation to the Board to sign-off on the audit report or otherwise.

Jason is not the expert accountant with deep knowledge of statutory compliance requirements. Jason is the expert liaison with the eight skills described below.

F Inancial Audit Oversee and Liason 2 jpg
F Inancial Audit Oversee and Liason 2 jpg

8 Skills of a Financial Audit Liaison Consultant

A skilled liaison between the Auditor, Internal Accountants, and the Board must possess a blend of technical expertise, effective communication skills, and strong interpersonal qualities. Here are some key attributes that contribute to success in this role:

  1. Technical Expertise: A solid understanding of accounting principles, audit processes, and financial reporting standards. This enables the liaison to accurately interpret and communicate complex financial information.
  2. Communication Skills: Clear and concise communication is crucial. The liaison should be able to convey audit findings, financial data, and recommendations in a way that is easily understood by all parties involved, including those who may not have a financial background.
  3. Interpersonal Skills: Building and maintaining strong relationships with auditors, accountants, and Board members is vital. This requires diplomacy, empathy, and the ability to navigate differing perspectives and interests.
  4. Integrity and Objectivity: The liaison must uphold the highest ethical standards, ensuring transparency and honesty in all dealings. They should be able to maintain an objective stance, especially when mediating conflicts or discrepancies.
  5. Problem-Solving Abilities: The liaison should be adept at identifying and resolving issues that arise during the audit process. This involves critical thinking and the ability to propose practical solutions.
  6. Organizational Skills: Managing timelines, deadlines, and the flow of information is crucial for a smooth audit process. The liaison should be highly organized and detail-oriented.
  7. Understanding of Business Operations: A thorough knowledge of the company's operations and strategic goals helps the liaison provide relevant context and insights during the audit process.
  8. Commercial Understanding: The liaison should be adept at identifying the commercial issues underlying the issues that arise during the audit process. By understanding the commercial failure that the audit issue identified seeks to mitigate, then practical solutions can be developed. In the Australian jurisdiction international transfer pricing between an Australian parent and its foreign subsidiaries is a an example.

These qualities enable a liaison to effectively bridge the gap between auditors, internal accountants, and the Board, ensuring a transparent and efficient audit process.

Click here for Jason's experience in providing Financial Audit Oversee and Liaison services.