Year-end close calendar for audited entities

Six weeks before year-end, lock the schedule for inventory counts, bank confirmation mailing, and lawyer letters. Confirmations that go out late return late.

Within ten days after year-end, finance should deliver a draft trial balance, aged receivables, and a list of open estimates. Perfect notes can wait; a complete trial balance cannot.

Reserve two management review days before the auditor’s draft findings meeting. Corrections made after that meeting cost more calendar time than corrections made earlier.

Build buffer around the Lunar New Year period. Factories and many counterparties slow confirmation responses then, and fieldwork plans that ignore the holiday rarely recover.

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