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Is your Finance Team Audit-Ready? Actionable Tips and Expert Advice from a Global Accounting Firm Partner (#croweaccounting) how to elevate your team’s readiness to where it needs to be...on this episode of The #SavvySupplier Podcast.

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Show Notes:
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Keywords
#finance #auditready #retailsupplier #retaildeductions #accountingpitfalls #tariffs #riskmanagement #CroweAccounting

Summary
In this episode of The Savvy Supplier, Boyd & Al talk with Kevin Stewart from Crowe about the importance of building audit-ready finance teams, managing deductions effectively, and navigating the complexities of tariffs. They explore common accounting pitfalls, the significance of internal alignment, and the necessity of proper documentation. The conversation highlights the need for finance teams to be proactive in risk management and to adapt to market changes while maintaining a stable and structured approach to accounting processes.
Takeaways
Managing your own function effectively is key to handling deductions.
Understanding costs is crucial to avoid financial pitfalls.
CFOs dislike surprises; clarity in financial processes is essential.
Communication between finance and sales teams is vital for success.
Being audit-ready means being prepared for change and uncertainty.
Documentation is often overlooked but is critical for financial integrity.
Growth requires a shift in finance team structure and processes.
Internal alignment can prevent costly mistakes in pricing and deductions.
Proactive risk management is essential for finance teams.
Investing in proper systems can save significant costs in the long run.
Titles
Building Audit-Ready Finance Teams
Mastering Deductions Management
Sound Bites
"Everyone hates surprises, especially CFOs."
"We should be the lighthouse in the ocean."
"I see concern, not panic, in the market."
Chapters
00:00
Building Audit-Ready Finance Teams
01:39
Managing Deductions Effectively
03:25
Common Accounting Pitfalls
04:48
Navigating Tariffs and Their Impact
06:36
Internal Team Alignment
12:28
Trends in Deductions Management
14:35
Addressing Concerns in the Market
15:39
Importance of Documentation
17:10
Transitioning Companies and Growth Challenges
22:18
Driving Culture in Finance Teams