This checklist is designed to ensure compliance with financial regulations and internal policies. It covers essential steps to review financial practices, documentation, and alignment with applicable laws, thereby minimizing risks of non-compliance.
Examine existing financial policies to ensure they are up-to-date and compliant with current regulations.
Verify that all financial practices align with local, state, and federal regulations, including reporting and disclosure requirements.
Ensure that all financial documents are properly maintained, accurate, and easily accessible for review.
Evaluate the effectiveness of internal controls in place to prevent fraud and ensure accurate financial reporting.
Confirm that all relevant staff are trained on financial compliance standards and understand their responsibilities.
Perform an internal audit of financial activities to identify any areas of non-compliance and recommend corrective actions.
Compile and present the findings of the compliance review to management and stakeholders for further action.