Workflow Templates: Regulatory Compliance checklist

Review and ensure adherence to the latest GAAP or IFRS standards applicable to the organization.

Evaluate the completeness and accuracy of financial disclosures in accordance with regulatory requirements.

Maintain updated documentation of accounting policies and procedures.

Verify timely filing of all federal, state, and local tax returns.

Reconcile tax accounts and ensure accuracy of all tax-related financial statement disclosures.

Stay informed about changes in tax laws and assess their impact on the organization.

Perform regular internal control assessments and address any identified weaknesses.

Ensure that there is an effective risk management framework in place.

Conduct periodic reviews and tests of critical accounting and reporting systems.

Review the code of conduct and ethics policy for compliance with regulatory standards.

Ensure that governance policies are transparent and align with stakeholder expectations.

Monitor and manage conflicts of interest among management and board members.

Implement and maintain an effective AML compliance program.

Conduct regular AML training for relevant staff members.

Perform due diligence on customers and clients to prevent illicit activities.

Comply with data protection regulations, such as GDPR or CCPA, as applicable.

Implement robust cybersecurity measures to protect sensitive financial data.

Regularly review and update data privacy policies and procedures.

Regulatory Compliance checklist