unified
UC-FIN-02 — Review financial results and the period-end close
Execute the period-end close under a documented close calendar and checklist covering consolidation, journal entries, significant estimates, and preparation of financial statements and disclosures, with sign-off on each step. Perform management reviews of financial results, including account analyses, budget-to-actual and period-over-period variances, estimates, and reconciliations, at a defined precision threshold, documenting the investigation and resolution of items exceeding it. Retain review evidence identifying the reviewer, items challenged, and outcomes.
In catalog since 2026-09-17T22:28:00Z · Last changed 2026-09-17T22:28:00Z (f368a6cce277)
Record JSON · Open in map · Data retrieval guide
Catalog revision: 791ff2dd3a45707290badee660f185e514d15f1cf518908628f425c2f2c56ee4. A connection does not establish full coverage.
Attributes
- domain
- Financial Reporting Controls (SOX)
- type
- detective
- category
- administrative
Details
- unified_id
- UC-FIN-02
- title
- Review financial results and the period-end close
- statement
- Execute the period-end close under a documented close calendar and checklist covering consolidation, journal entries, significant estimates, and preparation of financial statements and disclosures, with sign-off on each step. Perform management reviews of financial results, including account analyses, budget-to-actual and period-over-period variances, estimates, and reconciliations, at a defined precision threshold, documenting the investigation and resolution of items exceeding it. Retain review evidence identifying the reviewer, items challenged, and outcomes.
- domain
- Financial Reporting Controls (SOX)
- control_type
- detective
- control_category
- administrative
- members
- framework
- sox
- control_id
- ELC-PERFR
- coverage
- full
- relationship
- superset_of
- framework
- sox
- control_id
- PLC-MRC
- coverage
- full
- relationship
- superset_of
- guidance
Source
No record-specific source URL is provided.
Connections
- SOX Key Control Operation (Close Cycle) operates UC-FIN-02 — Review financial results and the period-end close
- SOX Key Control TOD/TOE Test tests UC-FIN-02 — Review financial results and the period-end close
- UC-FIN-02 — Review financial results and the period-end close maps_to ELC-PERFR — Period-End Financial Reporting Process — controls over the close process, consolidation, journal entries, estimates, and preparation of financial statements and disclosures.
- framework
- sox
- control_id
- ELC-PERFR
- coverage
- full
- relationship
- superset_of
- delta
- Not provided
- source_version
- SOX §302/§404 (2002), PCAOB AS 2201
- provenance
- mapper
- coworkcanvas-compliance-graph
- reviewDate
- 2026-09-07
- direction
- canonical_to_source
- defaultConfidence
- medium
- defaultStatus
- active
- note
- Each member is a documented relationship claim from the canonical unified control to a source control or guidance proposition. relationship: equal|superset_of (full) / intersects_with|subset_of (partial) / informs (guidance). confidence 'medium' = single-mapper, documented, not yet externally corroborated. source_version is the member framework's edition from the standard version register.
- UC-FIN-02 — Review financial results and the period-end close mitigates Revenue-recognition misstatement (fictitious, mis-timed, mis-measured)
- strength
- primary
- rationale
- Review of revenue results and variances detects fictitious, mis-timed, or mis-measured revenue.
- UC-FIN-02 — Review financial results and the period-end close mitigates Presentation and disclosure deficiencies
- strength
- primary
- rationale
- Close checklist and sign-off over financial statements and disclosures catch classification and disclosure errors.
- UC-FIN-02 — Review financial results and the period-end close mitigates Understatement of liabilities/expenses (completeness)
- strength
- primary
- rationale
- Budget-to-actual and period-over-period variance review surfaces unrecorded liabilities/expenses.
- UC-FIN-02 — Review financial results and the period-end close mitigates Valuation and impairment misstatement
- strength
- primary
- rationale
- Management review of significant estimates challenges impairment, allowance and reserve valuations.
- UC-FIN-02 — Review financial results and the period-end close mitigates Overstatement of assets/revenue (existence & occurrence)
- strength
- primary
- rationale
- Analytical review of balances and reconciliations detects overstated or non-existent assets and revenue.
- UC-FIN-02 — Review financial results and the period-end close mitigates Rights, obligations and related-party misstatement
- strength
- related
- rationale
- Review of financial statements and disclosures surfaces classification, lease, and related-party misstatements.
- UC-FIN-02 — Review financial results and the period-end close mitigates Measurement and calculation errors (accuracy)
- strength
- primary
- rationale
- Account analyses and variance review at a precision threshold detect measurement/calculation errors.
- UC-FIN-02 — Review financial results and the period-end close maps_to PLC-MRC — Management review controls — reviews of financial information, account analyses, budget-to-actual variances, estimates, and reconciliations performed at an appropriate level of precision with documented investigation and resolution of items.
- framework
- sox
- control_id
- PLC-MRC
- coverage
- full
- relationship
- superset_of
- delta
- Not provided
- source_version
- SOX §302/§404 (2002), PCAOB AS 2201
- provenance
- mapper
- coworkcanvas-compliance-graph
- reviewDate
- 2026-09-07
- direction
- canonical_to_source
- defaultConfidence
- medium
- defaultStatus
- active
- note
- Each member is a documented relationship claim from the canonical unified control to a source control or guidance proposition. relationship: equal|superset_of (full) / intersects_with|subset_of (partial) / informs (guidance). confidence 'medium' = single-mapper, documented, not yet externally corroborated. source_version is the member framework's edition from the standard version register.
- UC-FIN-02 — Review financial results and the period-end close mitigates Period cut-off errors
- strength
- primary
- rationale
- Close calendar and period-over-period variance review detect mis-timed transactions.