Jingga/Organization-Guide
1
0
Fork 0
mirror of https://github.com/Karaka-Management/Organization-Guide.git synced 2026-01-11 12:58:42 +00:00
Code Issues Actions Packages Projects Releases Wiki Activity

Update FSCP.md

Browse Source 
Signed-off-by: Dennis Eichhorn <spl1nes.com@googlemail.com>
This commit is contained in:
Dennis Eichhorn 2024-03-20 12:00:02 +01:00 committed by GitHub
parent b7596d3c0b
commit 1cbba3911b
No known key found for this signature in database
GPG Key ID: B5690EEEBB952194
1 changed files with 11 additions and 11 deletions
Show Stats Download Patch File Download Diff File Expand all files Collapse all files

22
Processes/Quality Management/COSO/FSCP.md
View File

@ -3,18 +3,18 @@
| No. | Component | Control Area | Question | Answer | Evidences |
| ---- | -------------------------- | ------------------------------------------------------------ | ------------------------------------------------------------ | ------------------------------------------------------------ | ------------------------------------------------------------ |
| 1 | General closing | Principle of financial reporting | Which basic financial reporting policies do you have? | The organization follows the German law regarding financial reporting and has various internal reporting policies and guidelines. | Financial laws (i.e. HGB, AO, Ustg, ...)<br />Policies: Accounting<br />Process: Finance |
| 2 | General closing | Understanding accounting policies | Who approves the accounting policies and how are changes implemented? | The company follows the German laws. Internal accounting policies are approved by the CFO. Changes can be implemented by any accounting employee but must be approved by the CFO. | Financial laws (i.e. HGB, AO, Ustg, ...)<br />Policies: Accounting |
| 3 | General closing | Accounting manual | Which accounting manuals and related documents exist? | Various accounting policies and a finance process. | Policies: Accounting<br />Process: Finance |
| 4 | General closing | Seggregation of duties | How are the duties of posting financial data, collecting financial data and approving financial data for the reporting seggregated? | Financial data is posted by accountants, the collection of financial data is handled by controllers and the approval of the reporting data is performed by the CFO. | Process: Finance |
| 5 | General closing | Management of accounting system | What are the accounting systems access control mechanisms and how are they implemented? | The accounting system is username and password protected with access restrictions according to the position and function of every person. | ITGC |
| 6 | General closing | Management of accounting system | How is the financial data stored and maintained in the accounting system to prevent them from being altered unauthorized? | Accounting data are stored digitally and can only be accessed and modified based on individual user permissions. | ITGC |
| 2 | General closing | Understanding accounting policies | Who approves the accounting policies and how are changes implemented? | The company follows the German laws. Internal accounting policies are approved by the CFO. Changes can be implemented by any accounting employee but must be approved by the CFO. | Financial laws (i.e. HGB, AO, Ustg, ...)<br />Policies: [Accounting](https://github.com/Karaka-Management/Organization-Guide/tree/master/Policies%20%26%20Guidelines/Accounting) |
| 3 | General closing | Accounting manual | Which accounting manuals and related documents exist? | Various accounting policies and a finance process. | Policies: Accounting<br />Process: [Finance](https://github.com/Karaka-Management/Organization-Guide/blob/master/Processes/06_Finance.md) |
| 4 | General closing | Seggregation of duties | How are the duties of posting financial data, collecting financial data and approving financial data for the reporting seggregated? | Financial data is posted by accountants, the collection of financial data is handled by controllers and the approval of the reporting data is performed by the CFO. | Process: [Finance](https://github.com/Karaka-Management/Organization-Guide/blob/master/Processes/06_Finance.md) |
| 5 | General closing | Management of accounting system | What are the accounting systems access control mechanisms and how are they implemented? | The accounting system is username and password protected with access restrictions according to the position and function of every person. | [ITGC](https://github.com/Karaka-Management/Organization-Guide/blob/master/Processes/Quality%20Management/COSO/ITGC.md) |
| 6 | General closing | Management of accounting system | How is the financial data stored and maintained in the accounting system to prevent them from being altered unauthorized? | Accounting data are stored digitally and can only be accessed and modified based on individual user permissions. | [ITGC](https://github.com/Karaka-Management/Organization-Guide/blob/master/Processes/Quality%20Management/COSO/ITGC.md) |
| 7 | General closing | Management of accounting system | What are the accounting systems functions to prevent alterations or modifications after the settlement of the accounts? | Accounting periods can be locked preventing further alterations in the accounting system. | Screenshot |
| 8 | General closing | Closing schedule | What is your closing schedule and how do you ensure the completion of the closing in time? | The financial closing is on the 5th business day of the following month. This is ensured through sufficient qualified personnel, reporting tools and monthly closing check lists. | Process: Finance<br />Checklists |
| 8 | General closing | Closing schedule | What is your closing schedule and how do you ensure the completion of the closing in time? | The financial closing is on the 5th business day of the following month. This is ensured through sufficient qualified personnel, reporting tools and monthly closing check lists. | Process: [Finance](https://github.com/Karaka-Management/Organization-Guide/blob/master/Processes/06_Finance.md)<br />[Checklists](https://github.com/Karaka-Management/Organization-Guide/tree/master/Processes/Finance/Financial%20Closing) |
| 9 | None-consolidation closing | Information and evidence | Do you keep references for financial statements including evidences such as contracts and invoices of significant transactions and how do you store them? | References are stored digitally for at least 10 years according to the German law. | |
| 10 | None-consolidation closing | Preparation and approval of non-consolidated financial information | How do you prepare figures of accounts, such as allowances, which need accounting estimates? | Estimates are performed based on historic experiences and risk avoidance. | Guidelines: Provisions |
| 11 | None-consolidation closing | Preparation and approval of non-consolidated financial information | How do you ensure the completeness and correctness of the journal entries? | Completeness is ensured by comparison to historic and budget figures as well as open orders. Correctness is ensured through comparison with historic and budget figures. | Process: Finance |
| 12 | None-consolidation closing | Preparation and approval of non-consolidated financial information | Which financial analysis do you perform (e.g. comparison of actuals and budget/previous year, KPI analysis, ...)? | Actual vs. budget, actual vs. previous year and KPI figures are analyzed. | Process: Finance |
| 13 | Reporting package | Preparation and approval of reporting package | How do you ensure the necessary competencies for the employees involved in the creation of the financial closing and financial reporting? | This is done during the HR search and the employee evaluation. | Job description<br />Employee Evaluation Form |
| 10 | None-consolidation closing | Preparation and approval of non-consolidated financial information | How do you prepare figures of accounts, such as allowances, which need accounting estimates? | Estimates are performed based on historic experiences and risk avoidance. | Guidelines: [Provisions](https://github.com/Karaka-Management/Organization-Guide/blob/master/Policies%20%26%20Guidelines/Accounting/Provisions.md) |
| 11 | None-consolidation closing | Preparation and approval of non-consolidated financial information | How do you ensure the completeness and correctness of the journal entries? | Completeness is ensured by comparison to historic and budget figures as well as open orders. Correctness is ensured through comparison with historic and budget figures. | Process: [Finance](https://github.com/Karaka-Management/Organization-Guide/blob/master/Processes/06_Finance.md) |
| 12 | None-consolidation closing | Preparation and approval of non-consolidated financial information | Which financial analysis do you perform (e.g. comparison of actuals and budget/previous year, KPI analysis, ...)? | Actual vs. budget, actual vs. previous year and KPI figures are analyzed. | Process: [Finance](https://github.com/Karaka-Management/Organization-Guide/blob/master/Processes/06_Finance.md) |
| 13 | Reporting package | Preparation and approval of reporting package | How do you ensure the necessary competencies for the employees involved in the creation of the financial closing and financial reporting? | This is done during the HR search and the employee evaluation. | Job description<br />[Employee Evaluation Form](https://github.com/Karaka-Management/Organization-Guide/blob/master/Processes/HR/Evaluation%20Forms/Employee%20Evaluation%20Form.md) |
| 14 | Reporting package | Preparation and approval of reporting package | Who approves the reporting package or revisions thereof? | CFO | |
2022-01-01 - Version 1.0
2024-03-20 - Version 2.0