Reconciliation

Reconciliation is the process of matching and comparing financial records to ensure accuracy and compliance. This includes comparing bank statements, accounting records, and other financial documents, and identifying and resolving any discrepancies.

Beginner competence definition

At a beginner level, individuals have an understanding of the basic concepts of reconciliation and its importance in maintaining accurate financial records.

Intermediate competence definition

Intermediate professionals have the ability to perform basic reconciliation procedures, including comparing financial records and identifying and resolving discrepancies.

Advanced competence definition

Advanced individuals have an in-depth understanding of reconciliation principles and the ability to design and implement effective reconciliation processes, including the use of advanced tools and techniques to reconcile complex financial data.