Tài chính kế toán - Monitoring reporting systems and reviewing reporting procedures

Monitoring reporting systems and reviewing reporting proceduresLearning objectives To learn about achieving completeness and accuracy of data. To discover methods of standardising input data and documentation. To know about maintaining appropriate backups. To learn about understanding and monitoring reporting requirements.Key termsintegrated systemmatching principlereporting requirementsreporting systemThis ensures that information provided by reports is accurateFactors to consider are: Achieving complete and correct dataIntegrated systemwhere an input in one system leads to the complete maintenance of correct data in a number of systemsMatching principleshould be adhered to in relation to data input to confirm transactions belong to the appropriate accounting periodMonitoring reporting systemsMonitoring reporting systemsOther factors to consider are:ensuring employees are trained in the processes for recording and classifyingstandardising source documents to minimise human errorbackupsReviewing reporting proceduresTo further ensure the reliability of reports produced from systems Actions may include:Systematically checking the source of input dataEstablishing reporting requirements and analysing them regularlyChecking reporting requirements for compliance with the established reporting processesExplanatory notes and financial results