Accounts, ERP & Audit Working Files Hub — Q&A: current Indian finance and law guidance from Finin2min.
Chart of Accounts DesignWhat is the Finin2min conclusion on Chart of Accounts Design?
A good chart balances statutory, management, tax, segment and consolidation needs.
Chart of Accounts DesignWhich primary anchor applies to Chart of Accounts Design?
Accounting policies and reporting requirements
Chart of Accounts DesignWhat evidence is needed for Chart of Accounts Design?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
Chart of Accounts DesignWhat is the next action for Chart of Accounts Design?
Create reporting-to-account mapping.
Master Data GovernanceWhat is the Finin2min conclusion on Master Data Governance?
Customer, vendor, item, tax, bank and employee masters require ownership, approval and duplicate controls.
Master Data GovernanceWhich primary anchor applies to Master Data Governance?
ERP control framework
Master Data GovernanceWhat evidence is needed for Master Data Governance?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
Master Data GovernanceWhat is the next action for Master Data Governance?
Use maker-checker and change reports.
Journal Entry ControlsWhat is the Finin2min conclusion on Journal Entry Controls?
Manual and automated journals need defined source, approval, evidence and exception review.
Journal Entry ControlsWhich primary anchor applies to Journal Entry Controls?
Financial close and audit standards
Journal Entry ControlsWhat evidence is needed for Journal Entry Controls?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
Journal Entry ControlsWhat is the next action for Journal Entry Controls?
Create risk-based journal testing.
Month-End Close FileWhat is the Finin2min conclusion on Month-End Close File?
Close should be task-owned, evidenced, reviewed and locked.
Month-End Close FileWhich primary anchor applies to Month-End Close File?
Accounting and internal-control framework
Month-End Close FileWhat evidence is needed for Month-End Close File?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
Month-End Close FileWhat is the next action for Month-End Close File?
Use close calendar and sign-offs.
Balance-Sheet ReconciliationsWhat is the Finin2min conclusion on Balance-Sheet Reconciliations?
Every material balance needs source-to-ledger reconciliation and aged reconciling items.
Balance-Sheet ReconciliationsWhich primary anchor applies to Balance-Sheet Reconciliations?
Accounting and audit evidence
Balance-Sheet ReconciliationsWhat evidence is needed for Balance-Sheet Reconciliations?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
Balance-Sheet ReconciliationsWhat is the next action for Balance-Sheet Reconciliations?
Track item age and owner.
Order-to-Cash and ReceivablesWhat is the Finin2min conclusion on Order-to-Cash and Receivables?
Customer approval, pricing, dispatch, invoicing, receipt and credit notes should form one controlled chain.
Order-to-Cash and ReceivablesWhich primary anchor applies to Order-to-Cash and Receivables?
ERP process controls
Order-to-Cash and ReceivablesWhat evidence is needed for Order-to-Cash and Receivables?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
Order-to-Cash and ReceivablesWhat is the next action for Order-to-Cash and Receivables?
Link operational evidence.
Procure-to-Pay and PayablesWhat is the Finin2min conclusion on Procure-to-Pay and Payables?
Vendor onboarding, PO, receipt, invoice, tax and payment need segregation and matching.
Procure-to-Pay and PayablesWhich primary anchor applies to Procure-to-Pay and Payables?
ERP process controls
Procure-to-Pay and PayablesWhat evidence is needed for Procure-to-Pay and Payables?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
Procure-to-Pay and PayablesWhat is the next action for Procure-to-Pay and Payables?
Monitor exceptions.
Inventory and CostingWhat is the Finin2min conclusion on Inventory and Costing?
Quantity, location, ownership, costing and obsolescence require system and physical evidence.
Inventory and CostingWhich primary anchor applies to Inventory and Costing?
Accounting standards and ERP controls
Inventory and CostingWhat evidence is needed for Inventory and Costing?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
Inventory and CostingWhat is the next action for Inventory and Costing?
Maintain ownership codes.
Fixed Assets and ProjectsWhat is the Finin2min conclusion on Fixed Assets and Projects?
Capitalisation, componentisation, useful life, location, impairment and disposal need controlled records.
Fixed Assets and ProjectsWhich primary anchor applies to Fixed Assets and Projects?
Accounting standards
Fixed Assets and ProjectsWhat evidence is needed for Fixed Assets and Projects?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
Fixed Assets and ProjectsWhat is the next action for Fixed Assets and Projects?
Use project completion certificates.
Tax Configuration and ReconciliationWhat is the Finin2min conclusion on Tax Configuration and Reconciliation?
Tax codes, place, rate, withholding and return mappings require controlled configuration.
Tax Configuration and ReconciliationWhich primary anchor applies to Tax Configuration and Reconciliation?
GST, TDS and accounting controls
Tax Configuration and ReconciliationWhat evidence is needed for Tax Configuration and Reconciliation?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
Tax Configuration and ReconciliationWhat is the next action for Tax Configuration and Reconciliation?
Approve tax masters and reconcile returns.
Audit Trail and Edit LogsWhat is the Finin2min conclusion on Audit Trail and Edit Logs?
Accounting software should preserve edit logs and management must assess operation throughout the year.
Audit Trail and Edit LogsWhich primary anchor applies to Audit Trail and Edit Logs?
Companies Audit Rules Rule 11(g) and ICAI guidance
Audit Trail and Edit LogsWhat evidence is needed for Audit Trail and Edit Logs?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
Audit Trail and Edit LogsWhat is the next action for Audit Trail and Edit Logs?
Map every posting route.
User Access and Segregation of DutiesWhat is the Finin2min conclusion on User Access and Segregation of Duties?
Access should match role, be approved, reviewed and promptly removed.
User Access and Segregation of DutiesWhich primary anchor applies to User Access and Segregation of Duties?
IT general controls
User Access and Segregation of DutiesWhat evidence is needed for User Access and Segregation of Duties?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
User Access and Segregation of DutiesWhat is the next action for User Access and Segregation of Duties?
Run periodic SoD analytics.
ERP Change ManagementWhat is the Finin2min conclusion on ERP Change Management?
Configuration, code and report changes require request, test, approval and migration evidence.
ERP Change ManagementWhich primary anchor applies to ERP Change Management?
IT general controls
ERP Change ManagementWhat evidence is needed for ERP Change Management?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
ERP Change ManagementWhat is the next action for ERP Change Management?
Maintain controlled transports.
Interfaces and Data MigrationWhat is the Finin2min conclusion on Interfaces and Data Migration?
Completeness and accuracy of interfaces and migrations should be reconciled.
Interfaces and Data MigrationWhich primary anchor applies to Interfaces and Data Migration?
IT general controls
Interfaces and Data MigrationWhat evidence is needed for Interfaces and Data Migration?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
Interfaces and Data MigrationWhat is the next action for Interfaces and Data Migration?
Use control totals and exception logs.
Spreadsheet Model ControlsWhat is the Finin2min conclusion on Spreadsheet Model Controls?
Critical spreadsheets need input, formula, access, version, review and change controls.
Spreadsheet Model ControlsWhich primary anchor applies to Spreadsheet Model Controls?
Finance and audit framework
Spreadsheet Model ControlsWhat evidence is needed for Spreadsheet Model Controls?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
Spreadsheet Model ControlsWhat is the next action for Spreadsheet Model Controls?
Use formula scans and locked templates.
Audit Working Paper ArchitectureWhat is the Finin2min conclusion on Audit Working Paper Architecture?
Files should show planning, risk, work performed, evidence, conclusions, review and final assembly.
Audit Working Paper ArchitectureWhich primary anchor applies to Audit Working Paper Architecture?
SA 230 and ICAI templates
Audit Working Paper ArchitectureWhat evidence is needed for Audit Working Paper Architecture?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
Audit Working Paper ArchitectureWhat is the next action for Audit Working Paper Architecture?
Link procedures to assertions and findings.
Sampling and Data AnalyticsWhat is the Finin2min conclusion on Sampling and Data Analytics?
Population integrity, selection method, projection and exceptions should be documented.
Sampling and Data AnalyticsWhich primary anchor applies to Sampling and Data Analytics?
SA 530 and audit evidence
Sampling and Data AnalyticsWhat evidence is needed for Sampling and Data Analytics?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
Sampling and Data AnalyticsWhat is the next action for Sampling and Data Analytics?
Validate population first.
Backup, Retention and Disaster RecoveryWhat is the Finin2min conclusion on Backup, Retention and Disaster Recovery?
Financial records and working papers require recoverable, secure retention.
Backup, Retention and Disaster RecoveryWhich primary anchor applies to Backup, Retention and Disaster Recovery?
IT controls and documentation standards
Backup, Retention and Disaster RecoveryWhat evidence is needed for Backup, Retention and Disaster Recovery?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
Backup, Retention and Disaster RecoveryWhat is the next action for Backup, Retention and Disaster Recovery?
Test restoration.
AI in Accounting and Audit FilesWhat is the Finin2min conclusion on AI in Accounting and Audit Files?
AI can assist classification and drafting, but source, review, confidentiality and accountability remain human.
AI in Accounting and Audit FilesWhich primary anchor applies to AI in Accounting and Audit Files?
Professional standards and data controls
AI in Accounting and Audit FilesWhat evidence is needed for AI in Accounting and Audit Files?
process narrative and control matrix; master and access reports; reconciliations and exception logs; system audit trail; working-paper review evidence
AI in Accounting and Audit FilesWhat is the next action for AI in Accounting and Audit Files?
Record prompt, source and reviewer.