IC Compliance Refresher

What control category does SOX_FIN_FR_05 belongs to?

• Detective

• Preventive

• All of the above

Which statements were correct?

Statement 1 A. Inspect that all JEs are approved independent of the preparer. B. IPE Accuracy - Inspect that the manual journal entry report used for review is accurate

Statement 2 A. Inspect that un-reconciled items are identified and corrective actions determined. B. Inspect that the rec, tied back to third party documentation or supporting schedules, including components of the ending balance (estimates, accruals, etc.).

• Statement 1 is correct

• Statement 2 is correct

• Both Statements are wrong

What is the threshold in where the analyst should secure evidence to ensure the variance was communicated to Corporate Consolidations and GTAAS by Close day 8.

• Reconciling item is > 4MM USD

• Reconciling item is < 5MM USD

• Reconciling item is > 5MM USD

What does RCM mean?

• Risk Corporate Matrix

• Risk Control Management

• Risk Control Matrix

What is the SOX Control number for the Global Interface Contol?

• IC_03

• IC_04

• IC_05

What is the deadline for IC25 BRAVO Submission and handoffs? 

• A. C+5

• B. C+8

• C. C+10

This is the process  wherein LE to LE reconciliation is performed.

• IC25

• IC OOB Aging

• IC02

What does NAPCTCE stands for?

• Nature, Amount, Person In-Charge, Corrective Application, Timeline, Company Code

• Nature, Age, Person In-Charge, Corrective Action, Timeline, Correcting Entry 

• Nature, Age, Person In-Charge, Corrective Action, Task, Current Entry

As for WWP 210Ea Section 1F: Reconciliations are prepared by the net receivable Affiliate and communicated to the net payable Affiliate by C+6 (quarterly) and C+15 (off quarter months). 

• True

• False

• Neither

Which of the Reconciliation Stages is in proper order?

• Detection, Identification, Resolution, Matching, Validation

• Detection, Matching, Identification, Resolution, Validation

• Detection, Identification, Matching, Resolution, Validation