The audit just has to be planned, not finished. I've been in public accounting for years, audits can take upwards of 1-3 weeks depending on the size and depth of the company. Seeing how they have never been audited before, they will need to do a lot of work.
The only thing that needs to happen is the firm to be engaged to do it. What that means is the firm needs to send a written proposal with the scope of work and the fee to accomplish the work. Once Tom signs off on it, they are engaged to do the audit. Even if the audit doesn't start for a few weeks.
This could alraedyand probably is already done.
Tom said he had meetings with funders set for today, so I'm guessing the firm is engaged!
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