Account reconciliations
126 reconciliations across 12 entities and 19 accounts. Each is reconciled where the balance actually lives, and the parts sum back to the group trial balance the statements are built from — which is what lets this be read as a statement about the balance sheet rather than about a spreadsheet.
Can the balance sheet be relied on
R7 · coverage, ageing, certification and the tie to the statements
4 balances cannot be relied on, and 2 carry an open difference
The 126 reconciliations across 12 entities sum, account by account, to the group trial balance the statements are built from. That tie is the reason this module can be read as a statement about the balance sheet rather than about a spreadsheet.
2 accounts carry an open difference: E200 other receivables and prepayments (12,400), E200 trade payables ((8,200)). 1 of them has been open for two periods or more, which puts 12,400 beyond the point where a timing explanation is credible.
124 of 126 are signed by both preparer and reviewer. The exposure is not the count — it is the 4 balances that agree to the ledger on evidence the finance team produced itself, which demonstrates internal consistency and nothing more.
| Open for | Count | Value |
|---|---|---|
| current | 1 | 8,200 |
| 1 period | 1 | 1,850 |
| 2+ periods | 1 | 12,400 |
- E200 1200 Other receivables and prepayments: not signed by the preparer; not signed by the reviewer; not certified in the immediately preceding period; carried a difference in the prior period as well.
- E100 2100 Accruals and other payables: no independent source for a high-risk balance.
- E100 2400 Income tax payable: no independent source for a high-risk balance.
- E100 2500 Deferred tax liabilities: not signed by the reviewer; no independent source for a high-risk balance.
1200 · Other receivables and prepayments · E200
Owned by Wei Ling Tan, reviewed by Arun Selvaraj · REC-1200 prepaid insurance · proved by close task CT-10
The supporting schedule exceeds the ledger by an amount consistent with a prepayment recognised in the schedule but not yet posted. A pending journal reclassifying a prepayment is awaiting approval and would account for most of the difference. It has been open for 3 periods and carried a difference last period too, so it is not a timing item.
Approve or reject the pending prepayment reclassification, then re-run the reconciliation. If the entry is rejected, the schedule must be corrected instead.
| Prepaid insurance | 17,993 |
| Prepaid port dues | 9,470 |
| Deposits | 11,364 |
| Indirect tax receivable | 8,523 |
| Supporting schedule | 47,351 |
| Entity ledger | 34,951 |
| Difference | 12,400 |
2000 · Trade payables · E200
Owned by Siti Rahman, reviewed by Arun Selvaraj · REC-2000 aged payables — current · proved by close task CT-06
The payables listing exceeds the ledger, which is the pattern of goods-received-not-invoiced accrued in the schedule but not yet posted to the ledger, or an invoice recorded in the wrong period.
Agree the goods-received-not-invoiced balance to the receiving records and check the cut-off testing result for purchases; one purchase invoice is already flagged as recorded in the wrong period.
| Aged payables — current | (130,560) |
| 31 to 60 days | (45,592) |
| Over 60 days | (26,941) |
| Goods received not invoiced | (4,145) |
| Supporting schedule | (207,238) |
| Entity ledger | (199,038) |
| Difference | (8,200) |
Reconciliations that agree but are not supported
Each of these ties to the ledger. None of them can be relied on as evidence.
E200 1200Other receivables and prepaymentsBreak- Not signed by the preparer. Wei Ling Tan has not signed the reconciliation, so nobody has asserted it is complete.
- Not signed by the reviewer. Arun Selvaraj has not signed a reconciliation that carries a difference.
- Not certified in the immediately preceding period. Last certified in FY2025-09 rather than FY2025-11, so this balance has gone uncertified for at least one period.
- Carried a difference in the prior period as well. The account also carried a difference of 9,800 in the prior period, so this is a recurring break rather than a timing item.
The account carried a difference last period and carries one again, and the schedule behind it is schedule prepared inside the finance team. A difference that survives a period is not a timing item, so the support has to be treated as unproven rather than merely incomplete.
Wei Ling Tan to identify the item behind the recurring difference and clear it, with Arun Selvaraj signing the reconciliation before the period is locked.
E100 2100Accruals and other payablesCertified- No independent source for a high-risk balance. A high-risk balance is supported only by a schedule prepared inside the finance team.
A high-risk balance is supported only by a schedule prepared by the same team that owns the ledger. Nothing outside the finance function corroborates it, so agreement to the ledger demonstrates internal consistency and nothing more.
Obtain an independent corroboration — a confirmation, statement or sub-ledger extract — and have Arun Selvaraj sign it.
E100 2400Income tax payableCertified- No independent source for a high-risk balance. A high-risk balance is supported only by a computation prepared inside the finance team.
A high-risk balance is supported only by a computation prepared by the same team that owns the ledger. Nothing outside the finance function corroborates it, so agreement to the ledger demonstrates internal consistency and nothing more.
Obtain an independent corroboration — a confirmation, statement or sub-ledger extract — and have Arun Selvaraj sign it.
E100 2500Deferred tax liabilitiesWithin tolerance- Not signed by the reviewer. Arun Selvaraj has not signed a high-risk reconciliation.
- No independent source for a high-risk balance. A high-risk balance is supported only by a computation prepared inside the finance team.
A high-risk balance is supported only by a computation prepared by the same team that owns the ledger. Nothing outside the finance function corroborates it, so agreement to the ledger demonstrates internal consistency and nothing more.
Obtain an independent corroboration — a confirmation, statement or sub-ledger extract — and have Arun Selvaraj sign it.
By account
Every entity that carries the account, rolled up to the group figure
| Account | Proved by | Entities | Entity ledgers | Trial balance | Ties | Status |
|---|---|---|---|---|---|---|
1000 Cash and bank balances | CT-04 | 12 | 2,672,750 | 2,672,750 | Nil | Certified |
1100 Trade receivables | CT-05 | 12 | 2,427,900 | 2,427,900 | Nil | Certified |
1150 Allowance for expected credit losses | CT-05 | 12 | (45,000) | (45,000) | Nil | Certified |
1200 Other receivables and prepayments | CT-10 | 12 | 249,650 | 249,650 | Nil | Break |
1500 Property, plant and equipment - cost | CT-08 | 12 | 11,720,000 | 11,720,000 | Nil | Certified |
1550 Property, plant and equipment - accumulated depreciation | CT-08 | 12 | (3,525,550) | (3,525,550) | Nil | Certified |
1600 Right-of-use assets - cost | CT-09 | 3 | 720,000 | 720,000 | Nil | Certified |
1650 Right-of-use assets - accumulated depreciation | CT-09 | 3 | (240,000) | (240,000) | Nil | Certified |
2000 Trade payables | CT-06 | 12 | (1,421,700) | (1,421,700) | Nil | Break |
2100 Accruals and other payables | CT-10 | 12 | (564,350) | (564,350) | Nil | Certified |
2200 Lease liabilities - current | CT-09 | 3 | (165,000) | (165,000) | Nil | Certified |
2250 Lease liabilities - non-current | CT-09 | 3 | (330,000) | (330,000) | Nil | Certified |
2300 Bank borrowings - current | — | 1 | (600,000) | (600,000) | Nil | Certified |
2350 Bank borrowings - non-current | — | 1 | (2,400,000) | (2,400,000) | Nil | Certified |
2400 Income tax payable | CT-12 | 12 | (396,375) | (396,375) | Nil | Certified |
2500 Deferred tax liabilities | CT-12 | 1 | (185,000) | (185,000) | Nil | Within tolerance |
3000 Share capital | — | 1 | (5,000,000) | (5,000,000) | Nil | Certified |
3100 Retained earnings - opening | — | 1 | (2,122,785) | (2,122,785) | Nil | Certified |
3200 Foreign currency translation reserve | — | 1 | 93,660 | 93,660 | Nil | Certified |
By entity
Where the reconciliation work sits