What it is
This script tests monthly bank reconciliation reviews: whether they were prepared on time, the balances agree to the statement and the ledger, the reconciling items are supported, old items are followed up and the preparer and reviewer are independent.
The workbook holds the control details, a sample size lookup that reads your own policy table, the attributes to test with the procedure and evidence for each, a sample grid with Pass, Fail or N/A, and a conclusion that compares exceptions with your tolerance.
When to use it
- When management or internal audit tests a key control for operating effectiveness.
- When a test needs a documented, repeatable script a reviewer can follow.
- When retesting a control after remediation.
What’s inside
- Control tab with sample size policy lookup by frequency and risk
- Procedures tab with attributes and expected evidence
- Sample grid for up to 60 items with exception flags
- Five attributes from timeliness to independence
Standard cited
This template follows ICFR control testing. It is written in our own words, except for phrases the standard requires the document to contain, with [bracketed placeholders] for client details, amounts in USD and dates as MM/DD/YYYY. Check it against the current standard and your firm’s methodology before use.
Questions
Where does the sample size come from?
From your methodology. The sheet carries a policy table that you fill with your own sizes by frequency and risk level, then looks up the size for the control being tested. Nothing is pre-filled.
What happens if I find an exception?
Record it as Fail and describe it. If exceptions exceed the tolerance in your policy, the conclusion changes to evaluate the deficiency, and you consider compensating controls and the need for more testing.
Related templates
- Risk and Control Matrix: Treasury and Cash
- SOX Control Test Workpaper (TOD / TOE)
- SOX Management Review Control (MRC) Worksheet
Last updated 11/05/2026. All free templates.