Text of Recommendation | Prepare and analyze monthly reconciliations of subsidiary and summary accounts balances. Consider a "formal closing" of all accounts at an interim dates which will reduce the level of accounting activity and analysis required at year-end. This "formal interim closing" entails ensuring that all transactions are recorded in the proper period through the month-end. |
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Recommendation Number | 10 |
Recommendation Status | Closed |
Significant Recommendation | No |
Submitting OIG | |
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Linked Report |