A practical, step-by-step checklist that helps finance teams streamline pre-close work, reduce consolidation risks, and prepare for a smooth audit.
Year-end close does not have to be stressful. With the right structure in place, your team can shorten timelines, increase reporting accuracy, and reduce last-minute surprises. This checklist walks you through the critical steps needed before, during, and after the close so you can deliver accurate and audit-ready results on time.
What You Will Learn
This checklist breaks down the full year-end close into clear and actionable categories, including:
Pre-Close Preparation
Set the foundation with aligned calendars, updated accounting principles, validated one-off events, and the correct FX rates.
Data and Submission Readiness
Ensure all entities follow group policies, mappings are updated, intercompany balances match, and validation rules catch errors before consolidation.
Consolidation and Eliminations
Review system warnings, validate eliminations, check minority interest and equity movements, and confirm the consolidated cash flow structure.
Reporting and Audit Support
Prepare reporting packs, ensure full audit trail transparency, provide auditor access, and resolve variances before sign-off.
Who This Checklist Is For
This resource is ideal for:
- Group reporting teams
- Consolidation specialists
- Controllers and accountants
- Finance leaders preparing for audit
- Any organisation working with multi-entity or multinational financial reporting
Why It Matters
Missing a single step can cause:
- Late or inconsistent entity submissions
- Intercompany mismatches
- Manual adjustments without audit trail
- Errors in consolidation logic
- Longer and more difficult audits
With this checklist, you can build a more controlled, predictable and transparent year-end close.