What makes a close audit-ready?

Detailed Explanation

Documentation created as the work happens, not assembled afterwards. That means reconciliations with preparer, reviewer and date; variance analysis that explains movements rather than merely listing them; and an issue log showing what went wrong, what was done about it, and by whom. The standard to aim for is repeatability: a reviewer should be able to follow the same trail to the same conclusion without asking anyone what happened. A close that only makes sense to the person who ran it is defensible right up until that person leaves.