The Manager A &R checks off the consolidating journal entries on the control listing (Journal Report) as they are posted. The Manager compares the current month listing to the prior month to make sure that all applicable entries are included and confirms the disposition of any entries dropped or any additional entries. This is a completeness check to make sure that all applicable entries are made and posted. This signed off listing is included in the monthly Consolidation Binder.
Control Description:
Each month during period close, the Manager A&R reviews the consolidating journal entries booked and compares the listing to the prior month to ensure all entries were performed. The list of journal entries is then signed off and filed in the Consolidation Binder."