You need to hire some financial auditors to help with the annual audit. Create a statement of work for these auditors that meets the criteria set forth in the chapter, and discuss why you chose to include that content.Remember to include citation such as GAAP, SEC, SOX, etc.. The S.O.W. should contain clear and concise wording to protect all parties and especially to assist the judge should legal issue emerge. Every aspect needs to be covered, meaning do not assume anything. Place yourself in the position of both parties and determine if ever possible question answered. What would happen if an issue occurred, and the S.O.W. was the foundation of a court hearing?

Ensure the SOW contains the following:

Schedule when report will be submitted

Define who accepts the report

Terms & condition & payment

Security pertaining to access of information

Define the location that the auditor(s) will work from and security measures

Define who is the interface for the auditor(s)

Define what resources the auditor(s) will be require and who provides the resources

Define work hours and security measure to the facility

Define what standards the audit will be govern under (GAAP)

This was a starting point… I ask…think out of the box, remove yourself and look at the issues from the both sides…be sure you are covering all aspects, no minimum pages.