Advanced
Journal entry testing plan (management override) with selection rules
Designs a journal entry testing approach including selection criteria, data fields, and evaluation of exceptions. Useful for audits requiring robust management override procedures.
Create a journal entry testing plan to address management override.
Inputs:
- JE population extract fields: {je_extract_fields}
- Posting period and close dates: {close_dates}
- Approval workflow description: {approval_workflow}
- High-risk accounts: {high_risk_accounts}
- Materiality: {materiality}
Output:
1) Selection rules (e.g., manual JEs, unusual users, late postings, round-dollar, rare accounts).
2) Sample size guidance and stratification approach.
3) Testing steps: inspect support, evaluate business purpose, verify approvals and evidence.
4) Exception log template and evaluation criteria.
5) Data request list for IT/accounting.
Make it implementable in Excel/IDEA/PowerBI.Related Prompts
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