Start with the evidence
Define the evidence needed for each status in your process. Make clear who can move an item forward and what remains to be done after preparation.
Work through the example
A pack marked ready contains its sources and open questions. It has not necessarily been approved; the reviewer may still need to resolve a timing issue before the period work can be closed.
Make the next step clear
Record status changes with a brief reason and retain unresolved questions. Avoid using a single green check to stand for preparation, review and approval when those were separate steps.
Keep the source context
Keep the review period, source set and unresolved questions explicit. A checklist records work performed; it does not by itself establish that financial statements are complete or compliant. Use the appropriate reviewer for decisions about accounting treatment.