Which financial statement shows what the Company owns, owes, and what was invested by shareholders?

Management, partners, employees, investors, customers, general public.

The main deliverable from the month end close process is to create_______ ______.

I am internal or external. They test controls to determine management’s assessment of internal controls over financial reporting.

My abbreviation is SOC.

What FloQast feature should be enabled if a client states that they have an account that should be cleared out by the end of the month for all AP and AR transactions?

The final outcome of an audit.

"LFG! All initial transactions are recorded, we are now _____ closed".

A listing of requests from external auditors. Examples of items on this list include: invoices, third-party statements, emails, narratives.

Also known as a gap letter- it covers a period of time between the reporting period end date of the current SOC report and the release of a new SOC report.

What account is presented on the balance sheet to represent the expense paid in advance that is commonly used for AutoRec Amortization?

When an independent third-party organization examines the financial information of an organization and expresses an opinion.

This review is performed at a higher level, typically at the FSLI to tell the story of the company.

A procedure at a company that is designed to ensure compliance with a company’s policies.

This type of report focuses on services by organizations that are relevant to financial reporting.

What FloQast feature should be enabled if a client keeps track of a NetSuite subsidiary’s balances using IFRS but reconciles the consolidated balances under GAAP?

This standard-setting group regulates public companies and requires them to issue an annual report.

This team may use it's own workflow that includes an accrual to book a ___ provision.

I am used to document internal controls in detail. I am typically housed in excel, but with FloQast’s compliance module, you can find me in FloQast now too.

This type of report focuses on services by organizations that hold, store or process information of their clients

During discovery, if a client states they have a lot of known differences between their ERP and reconciliation workbooks, what FloQast feature would you recommend enabling?

A clean audit opinion.

When using Flux, this P&L account may change due to expenses related to debt or other financial instruments.

The reason for the need for management’s assessment of internal controls over financial reporting.

Name 3 parts included in the 10K