Using Duco to implement End of day reviews and sign off
The "Run Reviewed" feature on the overview screen of a two-sided or single-sided process allows you to enforce critical controls to your workflow. These controls are designed to ensure accuracy, accountability, and compliance while improving overall workflow efficiency.
Step-by-Step Instructions
1. Open the overview Screen of your process
- Navigate to the specific process run you are working on.
- Click the Overview tab to view the details of the run.
2. Locate the Sign Off Section
- Run details section on the overview screen.
- Here, you will see two boxes “This run is not ready to be reviewed” "This run has not been reviewed" checkbox
3. Sign Off on the process run
- To mark the Rec Run as reviewed, click the "This run is not ready to be reviewed" checkbox.
- This will update the checkbox to say “This run is ready to be reviewed”
4. Verify Sign Off
- Next a second individual will go through the run and analyse any key discrepancies and exceptions of note.
- Users may request the team to improve commentary, matches or labelling before signing off the run.
5. Correcting Sign Off Errors
- If an error occurs or the wrong user signed off, uncheck the "Rec Reviewed" checkbox.
- The system allows you to toggle the status, and any updates will be recorded with new timestamps in the audit log.
6. Review Last Action Taken
- Check the run's history or audit log to see the last action taken on the Rec Run.
- This helps identify any modifications made after sign-off, ensuring that changes are tracked and reviewed.
Importance of Implementing Controls
1. Accountability and Ownership
- Controls assign clear responsibility for each reconciliation step, ensuring that every review and approval is attributed to a specific user. This reduces the risk of errors and enhances overall accountability.
2. Compliance and Auditability
- The sign-off feature maintains a detailed audit trail, documenting every action with timestamps and user information. This documentation supports compliance with internal policies and external regulations, simplifying audits.
3. Error Prevention and Correction
- The ability to toggle sign-offs and log the last action provides flexibility to correct mistakes while maintaining transparency. This minimises the risk of inaccuracies in financial reporting.
5. Process Integrity
- Structured controls ensure a standardised and reliable reconciliation workflow. The formal sign-off procedure confirms that reconciliations are complete and accurate before finalisation, enhancing consistency.
6. Enhanced Visibility
- Tracking the last action taken offers real-time insights into the reconciliation’s status. This transparency helps identify any post-sign-off changes and maintains control over the reconciliation process.
7. Audit Readiness:
- The automated logging of user actions provides clear documentation, making it easier to demonstrate adherence to regulatory and organisational standards during audits.