Financial Controls Review Audit Report

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Screenshot of the first page of Financial Close Schedule Policy

This audit report reviews financial controls at an equipment facility plant. The specific processes discussed in this report include: inventory management, accounts payable, intercompany reporting procedures, and close the books. The key risks associated with these processes are also discussed in detail within the report.

One of the observations in the report includes the following issue:

Reconciliations of general ledger accounts are performed inconsistently, with some accounts being reconciled on a regular basis, others partially reconciled and still others not reconciled at all.

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