Questions for analyzing your financial accounting system

1.      How accurate is financial information supplied to your investors by your FAS?

2.      How well does your FAS comply to GAAP/IFRS?

3.      How justified are the differences between your FAS and GAAP/IFRS?

4.      How efficient is your working relationship with your auditing partners?

5.      How optimal is your financial accounting methodology?

6.      How optimal is your financial accounting process?

7.      How efficient are your financial accounting tools?

8.      How competent is your FAS manager?

9.      How competent are your financial accountants?

10.  How competent are your financial auditors?

11.  How regular and useful is your independent financial audit?

12.  How comprehensive is the description of your FAS?

13.  How well-structured is the description of your FAS?

14.  How accurate and up-to-date is the description of your FAS?

15.  How well is your FAS integrated into your corporate KMS?

16.  How well is your FAS integrated into your overall corporate management system?