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Processes/Quality Management/COSO/FSCP.md
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| 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](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. | |
| 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. | see Archive |
| 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) |