For any changes in the financial reporting requirements, Finance Department to review if the required information is available from the IT system and if not, initiate a request for configuring the IT system to ensure the availability of the requisite information. 3. Pre-planning for Closure & Closure As per As per For Activity for Operational Areas Checklist Checklist by Activity wise pre-planning checklist to end be prepared as per Company’s defined December/ SOPs, Policies and Business January and Requirements. A specimen general For Closure format indicating illustrative at year end checkpoints and processes is presented date and in embedded checklist. subsequent month 4. Process for Preparation of Financial As per As per As per Statements Checklist Checklist defined A specimen general format indicating timeline by illustrative checkpoints and processes the is presented in embedded checklist. management for finalizing audited Financials 5. Process for Disclosure requirements As per As per As per Checklist Checklist defined A specimen general format indicating timeline by illustrative checkpoints and processes management is presented in embedded checklist. for finalizing audited Financials 6. Senior Person CFO or Approval Approval Matrix for closure process of A & F equivalent Matrix to be The closure process will follow the Dept. position defined as approval matrix defined as per the part of SOP SOP of Accounts & Finance of A& F department. If it is not defined then dept. or at define the same for maker-checker the control at various stages and beginning of documentation trail the year
For any changes in the financial reporting requirements, Finance Department to review if the required information is available from the IT system and if not, initiate a request for configuring the IT system to ensure the availability of the requisite information. 3. Pre-planning for Closure & Closure Activity for Operational Areas Activity wise pre-planning checklist to be prepared as per Company’s defined SOPs, Policies and Business Requirements. A specimen general format indicating illustrative checkpoints and processes is presented in embedded checklist. As per Checklist As per Checklist For by end December/ January and For Closure at year end date and subsequent month 4. Process for Preparation of Financial Statements A specimen general format indicating illustrative checkpoints and processes is presented in embedded checklist. As per Checklist As per Checklist As per defined timeline by the management for finalizing audited Financials 5. Process for Disclosure requirements A specimen general format indicating illustrative checkpoints and processes is presented in embedded checklist. As per Checklist As per Checklist As per defined timeline by management for finalizing audited Financials 6. Approval Matrix for closure process The closure process will follow the approval matrix defined as per the SOP of Accounts & Finance department. If it is not defined then define the same for maker-checker control at various stages and documentation trail Senior Person of A & F Dept. CFO or equivalent position Approval Matrix to be defined as part of SOP of A& F dept. or at the beginning of the year