Be ready for your first post-transition audit
7 steps to prepare you for your first financial statement audit after transitioning to ASC 842 and IFRS 16
![mockup-preparing-for-your-first-audit](https://finquery.com/wp-content/uploads/2023/05/mockup-preparing-for-your-first-audit.png)
ASC 842 and IFRS 16:
Preparing for your First Audit
Your first financial statement audit is the moment of truth after transitioning to the new lease accounting standards.
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