General Ledger & Journal Entries
Journal entry initiation, review, approval, and posting to the GL.
Sub-Process Score
72/ 100
Adequate14/18 responses received
Control Objectives (2)
FR-GL-01
COSO P10COSO P12ICFR.GL.01IIA IV.9.2IIA IV.10.1
Manual journal entries are independently reviewed and approved before posting.
Risk: Unauthorized or erroneous journal entries could misstate financial statements.
Assessment Questions (4)
- 01All manual JEs over a defined threshold require independent review and approval prior to posting.
- 02Approver is different from the preparer (segregation of duties).
- 03Journal entry support documentation is attached to every manual JE.Document
- 04Period-end top-side adjustments are separately flagged and reviewed by the Controller or CFO.
FR-GL-02
COSO P11ICFR.ITGC.01ICFR.GL.02IIA IV.10.2
Access to post journal entries is restricted and periodically recertified.
Risk: Excessive JE access increases risk of fraud or error.
Assessment Questions (3)
- 01A list of users with JE posting rights is reviewed at least quarterly.
- 02Terminated employees are removed from ERP JE posting within 24 hours.
- 03Service accounts with posting rights are documented and monitored.