Workflow Templates: Annual Financial Reporting Checklist

Compile and verify all financial transactions

Reconcile bank statements and accounts

Prepare profit and loss statement

Draft balance sheet

Create cash flow statement

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

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

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

Annual Financial Reporting Checklist