Control Intelligence

Consolidation & External Reporting

Intercompany elimination, consolidation, and preparation of external financial statements.

Sub-Process Score
51/ 100
Needs Improvement
6/10 responses received
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Control Objectives (1)

FR-CR-01
COSO P10ICFR.CONSOL.01IIA IV.9.2
Intercompany balances are reconciled and eliminated each period.
Risk: Intercompany out-of-balance amounts misstate consolidated results.
Assessment Questions (3)
  • 01IC balances are reconciled between every entity pair monthly.
  • 02Out-of-balance differences have documented root cause.
  • 03Consolidation journal entries are independently reviewed.Document