The financial close process is important to a company, as it is the function directly related to producing company financial results for each period end. Restricting access to accounting and reporting applications and establishing clear write-off and reserve policies are examples of financial close process controls. It is also important for this process to be timely. These controls can be preventive or detective in nature.
This template provides a number of business activities and related control objectives for each activity. Within the questionnaire, you can document items such as whether the control exists, whether it was designed properly, related test procedures and a management action plan for deficiencies.
Checklists & Questionnaires
Financial Close Process Questionnaire: Generate Financial Statements and Disclosures
Risk & Control Matrices - RCMs
General Ledger Accounting—Close the Books RCM
Policies & Procedures