Close The Books (CTB) - Key Controls

Question 1

CTB01.1

Answer 1

Review and approve all manual journal entries.

Transactional

Question 2

CTB01.2

Answer 2

Ensure proper segregation of duties relating to manual journal entries

Monthly

Question 3

CTB02.1

Answer 3

Review the Intercompany balances

Monthly

Question 4

CTB09.1

Answer 4

Review detailed analysis of the other assets and liabilities accounts

Monthly

Question 5

CTB09.2

Answer 5

Review detailed analysis of all balance sheet accounts

Monthly

Question 6

CTB09.3

Answer 6

Ensure the suspense accounts are investigated and cleared timely

Quarterly

Question 7

CTB19.1

Answer 7

Confirm statutory accounts were filed timely

Annual

Question 8

CTB20.1

Answer 8

Review the balance sheet against comparative periods to identify unusual and/or significant movements

Quarterly

Question 9

CTB21.1

Answer 9

Review the income statement variance analysis to identify unusual and/or significant movements

Monthly

Question 10

CTB22.1

Answer 10

Severance provision is recorded in the correct period

Ad hoc

Question 11

CTB23.1

Answer 11

Adjustments as a result of documentation of control post Workday 9 are reported

Annual