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FinPro Knowledge · Financial Reporting

Reporting System Quarterly Review

A quarterly review to keep the reporting system healthy: still complete, still relevant, still driving decisions. Review the areas below, record findings, and set the improvements for next quarter.

Purpose. Reporting systems drift. Reports pile up, KPIs go stale, and dashboards stop being used. A short quarterly review keeps the system lean and valuable instead of letting it grow by accident.
How to use this review

Once a quarter, work through each review point. Mark it OK or Needs change, and note the finding or action. Close with the improvements you will make next quarter.

Quarterly reporting system review
Review pointStatusOK / Needs changeFinding / Action
Coverage
Are any required reports missing?
Are any important KPIs missing?
Are all key business areas covered by reporting?
Relevance
Are the dashboards still relevant to how the business is run today?
Are report frequencies still right (not too often, not too rare)?
Are there reports that no longer create value and should be retired?
Usage & Value
Are managers actually using the reports and dashboards?
Are reports leading to better and faster decisions?
Are action items from reporting being tracked and closed?
Quality & Data
Is the data still accurate and reconciled?
Have the chart of accounts and dimensions kept up with the business?
Are KPI definitions still correct and consistent?
Direction
What worked well in the reporting system this quarter?
What should be improved next quarter?
Are the owners and the reporting calendar still right?
Improvements for next quarter
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Disclaimer. The information in this document is for educational purposes only, based on FinPro's experience. It does not constitute financial, legal, or tax advice. Please consult a qualified professional before making decisions. This document provides indicative guidance only and is not a substitute for a professional financial assessment.
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