GAAP Compliance & Financial Statement Validator
Validate financial statements for GAAP compliance and generate audit-ready documentation
What You Can Do
You can validate quarterly and annual financial statements across multiple entities and consolidation levels against specific GAAP standards, including ASC requirements for revenue recognition, leases, and business combinations. Claude identifies missing or inadequate disclosures, flags consolidation and inter-company elimination issues, and generates compliance documentation with audit trail evidence—reducing manual review time and audit risk.
Features
Review subsidiary statements, inter-company eliminations, and consolidation packages against consolidation requirements
Identify missing or incomplete footnotes required by ASC standards and materiality thresholds
Validate ASC 606 treatment, contract terms, and performance obligation disclosures
Assess ASC 842 compliance including right-of-use assets, lease obligation classification, and disclosure completeness
Review purchase accounting, goodwill, intangible assets, and acquisition-related disclosures
Generate compliance review evidence with specific findings, citations, and remediation recommendations
Highlight items exceeding materiality thresholds or presenting audit risk
Example Output
Input: Consolidated balance sheet and footnotes from a multi-subsidiary manufacturing company with Q3 revenue and recent acquisition
Output:
- ✅ Consolidation structure validated; inter-company eliminations traced
- ⚠️ ASC 606 disclosure gap: Contract asset/liability breakdown missing from revenue footnote
- ⚠️ ASC 842 incomplete: Lease payment schedule and right-of-use asset rollforward not detailed
- ✅ Business combination: Purchase price allocation and goodwill impairment footnote complete
- ✅ Debt covenants: Compliance calculations and metric definitions adequately disclosed
- Audit Evidence Summary: 2 gaps flagged (medium risk), 3 areas compliant, remediation steps outlined
Input: Controller requesting compliance review before 10-K submission
Output: GAAP Compliance Checklist with item-by-item validation status, identified risks ranked by audit significance, and specific ASC references for each disclosure requirement
What's Included
- SKILL.md instruction file with GAAP validation framework and compliance standards reference:
- Financial Statement Compliance Checklist template (consolidation, disclosures, presentation):
- Multi-Entity Consolidation Review Worksheet (eliminations, inter-company balances, ownership tracking):
- GAAP Disclosure Gap Assessment template (ASC-mapped footnote requirements by statement line item):
- Audit Evidence Documentation template (findings, risk ranking, remediation steps):
- Revenue Recognition & Lease Accounting validation prompts (ASC 606 and 842 specific):
Who It's For
- Controllers managing multi-entity financial reporting and consolidation processes
- Senior accountants preparing statements for external or internal audit review
- Finance managers responsible for subsidiary consolidation packages and compliance documentation
- Audit partners or in-house audit teams validating statement completeness before filing
- Finance teams preparing 10-K, 10-Q, or other SEC filings requiring GAAP attestation
Best For
- Pre-audit validation of quarterly and annual consolidated financial statements
- Multi-entity and subsidiary consolidation package reviews
- GAAP disclosure completeness assessments for financial statement footnotes
- Complex accounting standard compliance (revenue recognition, leases, business combinations)
- Audit trail and compliance documentation generation for external auditor handoffs
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