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Annual Financial Reporting Checklist
Financial Statement Preparation
Compile and verify all financial transactions
Reconcile bank statements and accounts
Prepare profit and loss statement
Draft balance sheet
Create cash flow statement
Compliance and Regulatory Reporting
Ensure compliance with GAAP or IFRS standards
Review and update notes to financial statements
Complete tax filings and related schedules
Verify compliance with SEC reporting requirements
Compile and submit regulatory filings
Internal Review and Approval
Conduct internal audit of financial statements
Review financial reports with senior management
Obtain board of directors or audit committee approval
Address and document any discrepancies found
Finalize and sign-off on financial statements
External Audit and Assurance
Engage external auditors for annual audit
Provide auditors with necessary documents and access
Respond to auditor inquiries and requests
Review and address audit findings and recommendations
Obtain audit report and management letter
