Quality Control Review Checklist

  • Check name of Company with its Articles of Incorporation, or amended Articles of Incorporation, if applicable
  • Check the address of the Company with its BIR Registration Certificate
  • Agree totals of account lead schedules with the adjusted (final) trial balance
  • Trace all account accounts names and balances
  • For consolidated reports, trace accounts names and balances in the consolidated trial balance to adjusted trial balances of individual entities in the group. 
  • Check all computations and ratios appearing in the financial report
  • Proofread, foot/cross-foot the draft financial report
  • Check agreement of names, numbers, data and terminologies that appear more than once in the financial report
  • Agree prior year’s figures presented in current years financial report with prior years financial report or with issued financial report, if applicable
  • Verify accuracy of cross-references to notes to FS
  • Check financial statements headings/columns and period covered
  • Peso Signs or currency signs are appropriately placed. 

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