CHAPTER THIRTY SEVENProcess Narratives for the Analysis and Reporting Process

PROCESS NARRATIVE 7: DISCLOSURE CHECKLIST

Introduction: This process narrative defines some of the key process steps within the final phase of the record to report (R2R) process. Roles and responsibilities to ensure good segregation-of-duties controls are identified throughout this process narrative for the Disclosure Checklist.

Process Activity Description
  1. Disclosure Checklist: The external report department completes the quarterly SEC filings and General Accounting provides certain information to external reporting to contribute to the finished product. On a quarterly basis, the external reporting department provides general accounting with a disclosure checklist for items or transactions that may require disclosure. Once the checklist is completed, the director of general accounting reviews the checklist and forwards to the VP of general accounting.
  2. Disclosure Templates: External reporting also provides general accounting with various disclosure templates that include specific schedules that must be completed for inclusion in SEC filings. The schedules are completed by the relevant subject matter expert based on the information required by the template. The processes and controls around the completion of these templates are addressed in the package relevant to the specific template (debt, equity, cash flow, etc.).
  3. Quarterly Process: On a quarterly basis, external reporting provides the VP ...

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