What is best practice to Reconcile CIP Account

Summary:

is CIP need to reconcile at Month end or the project closure.

Content (required):

Our client is looking for best practice to reconcile CIP either every period or during Project closure.

is any accounting standard when to do?

what is the pros and cons by doing every period end or project closure?

Version (include the version you are using, if applicable):

22D

Code Snippet (add any code snippets that support your topic, if applicable):