The service-specific risk to address first
A close completed quickly but without balance-sheet review can conceal unresolved liabilities.
An Indian subsidiary should align local books and parent reporting without bypassing statutory requirements.
Mistake 1: assuming the same rule applies to everyone
Controllership focuses on reliable closing, controls and reporting accountability.
Entity type, business activities, transaction facts and the relevant period can change the answer. Before using a checklist or a headline rule, ask which facts make it applicable to you. Verify current official requirements rather than copying an old article.
Mistake 2: sending records that do not reconcile
Prepare accounting policies, approval matrices, reconciliations and current close responsibilities.
Flag mismatches and missing items before the adviser starts. Never overwrite an original record simply to make totals match. Preserve an explanation of corrections so the final position can be traced back to its evidence.
Mistake 3: confusing one task with full compliance
Separate oversight from transaction processing, statutory audit and specialist tax opinions.
An incorporation, registration, return or report is a particular deliverable. Other permissions, recurring obligations and implementation work may remain. Ask for a written list of what the engagement does not cover.
What to do if work is already wrong
Preserve the original submission or report and ask for an assessment of the available correction route. Do not submit a duplicate application or ignore a communication without checking the consequences. Identify the issue, relevant period and supporting evidence.
Which balances and controls are reviewed and who signs off on exceptions?
Maintain close checklists, reconciliation evidence and a control-issue remediation register.
How to use this resource
