What report is utilized for audit extraction in the Intercompany Matching and Reconciliation process?

• A. Run Matching - Export Audit Extract
• B. Audit Overview Report
• C. Transactions Summary Report
• D. Intercompany Error Analysis Report

Answer: (A)

The report utilized for audit extraction in the Intercompany Matching and Reconciliation process is the "Run Matching - Export Audit Extract." This report is specifically designed to extract detailed information regarding the matching process, making it essential for audit purposes. It provides transparency by allowing auditors and stakeholders to review and validate the matched transactions, ensuring that all intercompany transactions are accounted for effectively and consistently.

In the context of intercompany accounting, maintaining accurate records and providing clear visibility of the transactions is crucial for compliance and financial accuracy. The audit extract generated by this report contains the necessary data that auditors require to assess the validity and integrity of the matching process within the ICMR framework. Therefore, it serves as an essential tool in demonstrating that intercompany balances have been accurately reconciled and are in line with the accounting principles.

Other reports, while useful for various aspects of the intercompany process, do not directly focus on the extraction of audit-related data from the matching process.