1. Understand the business.
2. Review the chart of accounts and understand the types of transactions being recorded under each ledger.
3. Understand the requirements of the management on how financial information needs to be presented which explains the overall impact of the entity's transactions.
4. On review of transactions carried out in point 3 above identify any potential areas where errors or omissions could have occurred and ensure suitable remediations are being carried out.
5. After such review based on the steps carried above prepare a monthly report containing a summary of all the accounting transactions recorded and discuss the same with the management to ensure deviations, if any are remediated appropriately by the accounting team of the entity.
