Although PE funds and their portfolio companies are both audited, the professionals involved may know only one side of that equation. Streamlining the processes and timelines of those audits can offer material benefits for sponsors, particularly for reporting fund performance, using portfolio company valuations to develop exit strategies and monitoring ongoing fund performance metrics. To help simplify the complexities and offer strategies to enhance PE audit processes, Carta and Citrin Cooperman hosted a webinar that was moderated by Jason Fleming, senior manager of fund administration at Carta; Candice Bassell, senior director of auditable reporting services at Carta; Simon Jewkes, partner in the transaction advisory services practice at Citrin Cooperman; and James Catalano, audit partner at Citrin Cooperman. This article summarizes key takeaways from the discussion, including an overview of the audit life cycle for PE funds and their portfolio companies; best practices for valuations; how PE funds and portfolio companies can work together during the audit season; and the evolving role of technology in the audit process. See “What Investors Should Look for When Scrutinizing PE Sponsors’ Audits During ODD” (Feb. 20, 2025).