Checklist DB 1
[1-1] Final review and approval of financial reports are separated from the responsibility for their preparation.
[1-2] The preparation and approval of adjusting journal entries are performed by different individuals.[1-3] Personnel responsible for closing accounts are independent of those preparing financial statements.[2-2] Financial reports are reviewed and approved by appropriate levels of management before being publicly released.[2-1] All journal entries are reviewed and approved by authorized individuals and supported by adequate documentation.[2-3] Management regularly reviews estimates and adjustments (e.g., allowances, reserves) to ensure they are accurate and reasonable.[3-1] Procedures are in place for the orderly and accurate accumulation of financial data from various departments or entities.[3-2] Financial data received from departments is reconciled and reviewed before inclusion in combined or consolidated reports.[4-1] Financial statements and reports are prepared in compliance with applicable accounting standards (e.g., GAAP, IFRS) and regulatory requirements.[4-2] Disclosure controls ensure that all required information is included in reports submitted to regulatory bodies and the public.[4-3] Periodic filings (e.g., quarterly, annual) are completed on time, and any deviations from the filing schedule are addressed promptly.[5-1] Procedures ensure that financial reports are prepared consistently across reporting periods.[5-2] Financial statements are reconciled with underlying accounting records to ensure accuracy and completeness.
Completion Rate
,
,
,
,
,
,
,