Review the current note sequence and cross-references when financial statements are prepared from a prior-year template. A reference check should follow the current disclosures rather than preserve last year's numbering by default.

Accounting records, calculator and glasses on a desk
Illustrative photograph by Cht Gsml.

Build a current reference list

Collect the current statements, notes, comparative information and review comments. Identify notes added, removed, merged or split during preparation. Check references from the primary statements, accounting policies and other notes against the actual current headings.

Ask the accountant to distinguish a numbering correction from a substantive disclosure change. Do not remove a note simply because its old number no longer fits the template.

Test the links in context

For example, a new disclosure inserted early in the notes shifts later numbers. A balance sheet reference still points to the earlier number for property, plant and equipment. Trace it to the current note and have the preparer correct the reference throughout the pack.

Review tables of contents, footnotes and any XBRL mapping that depends on the presentation. Keep the approved financial statement version as the reference for the final filing pack.

Record the final review

Retain a checklist of the references checked and the revised version circulated. Resolve remaining review comments before sign-off. After conversion to PDF or another submission format, inspect the rendered pack again for legibility and references. A technically successful export does not replace the accounting and directors' review of the statements.

Related practical guidance

For the surrounding records and responsibilities, see bookkeeping basics, company records to keep, bookkeeping and accounting.

Official guidance: the relevant official guidance.

Help with your company records

For accounting, bookkeeping and related compliance support, contact Raffles Corporate Services at [email protected] or WhatsApp +65 8501 7133. Tell us which records or process need attention so we can discuss the relevant next steps.