Scottish Public Finance Manual

The Scottish Public Finance Manual (SPFM) is issued by the Scottish Ministers to provide guidance on the proper handling and reporting of public funds.

Annex 2: suspense account finance checklist

Review of suspense accounts checklist: finance

Account Name:
Account Code:


During the year


1. Have all suspense accounts been approved by the relevant finance area and has ownership been clearly established?


2. Have the full facilities of SEAS been considered in tackling the business requirement?


3. Do branch instructions cover the use and control of suspense accounts and are they up-to-date?


4. Have suspense account balances been reviewed quarterly using the checklist at Annex 1?


5. Has action been taken on "no" answers in that checklist?


Completed by



6. Has the appropriate approval been obtained for any writes-off in the year?


7. Have explanations been provided for any balances?


8. Is the retention of any balances justified?


9. Has proper action been taken to close suspense accounts where appropriate?


10. Are any balances on suspense accounts consistent with the nature and volume of business?

Completed by ................

A "No" answer implies that action needs to be taken to correct a control weakness. Proposals for such action should be considered and, where appropriate, implemented each time this checklist is completed.

Page Updated: January 2019

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