Review subsidiary and group Management Accounts

Entity-level review first

1. 1Create each subsidiary or managed business under the parent company.
2. 2Maintain a separate COA for each business where needed.
3. 3Upload and post source files for one business and period at a time.
4. 4Generate and review each business's backup workbook, Excel report pack, PowerPoint pack, and Executive Email Summary Draft.
5. 5Approve each business period only after the entity-level reports are correct.

Group review

Group Management Accounts should combine reviewed entity-level records rather than mixing subsidiaries inside one source workbook. If subsidiaries report in another currency, save the period FX rates before generating the parent/group pack.

1. 1Confirm all subsidiaries for the period have been reviewed.
2. 2Check that each business is using the expected period.
3. 3Confirm FX rates exist for subsidiaries reporting outside the group currency.
4. 4Review group totals against entity-level outputs.
5. 5Review the Entity_Contribution sheet to see each subsidiary's contribution to revenue, profit, balance sheet, cash, receivables, payables, and VAT.
6. 6Review the FX_Conversion sheet to trace source-currency amounts into the group currency.
7. 7Keep entity-level backup workbooks with the group pack for audit support.

Common mistakes

1. 1Do not upload multiple subsidiaries into the wrong selected entity.
2. 2Do not approve group reporting before entity reports are reviewed.
3. 3Do not treat payroll company selection as the same thing as managed business selection inside Management Accounts.