Mike Rothman, of Pragmatic CSO fame, laid down one of the best one-liners of all time in a recent blog post:
It's about serving the business, NOT THE AUDITORS. If you protect information effectively (which is a key imperative for the business), then the auditors should be kept reasonably happy. And if not, screw them and fight them. Yes, the auditor can make your life a bit harder, but you don't work for them. Keep that in mind.
OK, technically, that's a five-liner, but you get the point.
I can't tell you how many companies I've seen spend a million dollars a year...