Financial Controls
Which controls we operate, who owns them, when they were last tested — and the second signature on a manual journal, which is the last control standing.
13 steps · 10 questions · 12 screens on this shelf
The screens on this shelf
- Control Summary The framework in one row per process — how many controls, how many key, how many effective, and how many mater
- Financial Controls Which controls we operate, who owns each, when it was last tested and what we are doing about the ones that fa
- Control Tests A test result with no sample size is an opinion. The population, the sample and the method are what make it ev
- Deficiencies The three levels are not synonyms: a material weakness has to be disclosed. A finding with no owner and no dat
- Control Frameworks The published framework a control is claimed against. Naming COSO does not make a control effective, but an au
- Account Reconciliations Ageing the reconciling items is the whole discipline: a difference that has been there for eleven months is no
- Reconciling Items A reconciliation with a difference and no explanation is a number somebody will plug.
- Reconciliation Policies Which accounts are reconciled, to what, how often and by whom. The accounts nobody reconciles are where errors
- Journal Approvals The second pair of eyes — the last control standing once every document-driven route is locked down. Never the
- Journal Approval Rules When a manual journal needs a second signature. Any one trigger is enough — the threshold, a reversal, a backd
- Journal Audit Trail Every manual, backdated, out-of-hours or round-number journal, with whether it was approved and which period i
- Certifications A controller signs that the entity’s numbers are right. A certification WITH exceptions is worth far more than
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