Control Intelligence

AI Analysis Results

Receiving & Warehousing — Inventory & Cost of Goods

Back to Sub-Process
70
/ 100
Adequate
Overall Sub-Process Rating
Adequate — Control exists and operates; minor enhancements possible.
1 control evaluated4 strengths identified2 gaps identified
Executive Summary

The Receiving & Warehousing process demonstrates adequate controls overall, with most key controls designed and operating as intended. Certain areas require enhanced documentation or monitoring to close identified gaps, but no material weaknesses were noted during the assessment period.

Strengths
  • All incoming goods are inspected and recorded against... is consistently executed
  • Management review is performed on a regular cadence
  • Key controls are documented in a centralized repository
  • Segregation of duties is enforced across critical functions
Gaps
  • Access recertification cadence does not meet policy requirements
  • Exception handling procedures are informal and inconsistently applied
Recommendations
  1. 1Conduct an annual control design assessment aligned with framework updates
  2. 2Strengthen documentation requirements to include evidence retention standards
  3. 3Implement a workflow tool that captures reviewer identity and timestamp for all approvals
Framework Mapping
COSO 2013
Principle P10
SOX 404
ICFR.INV.RW.01
IIA Standards 2024
IV.9.2

Control-Level Breakdown (1)

INV-RW-01AdequateScore: 72/100
All incoming goods are inspected and recorded against the PO before putaway.
Key Finding

The control is in place and generally operating as intended. All incoming goods are inspected and recorded against the PO before putaway. Minor documentation or timeliness gaps were noted but do not represent material risk.

Recommendation

Enhance documentation and monitoring for: all incoming goods are inspected and recorded against the po before putaway. Ensure review evidence includes timestamps and reviewer identity.

Framework Tags
COSO P10ICFR.INV.RW.01IIA IV.9.2