AI Analysis Results
Cash Application & Collections — Order-to-Cash (AR & Revenue)
91
/ 100
StrongOverall Sub-Process Rating
Strong — Control is designed well, operating consistently, and monitored.
1 control evaluated5 strengths identified2 gaps identified
Executive Summary
The Cash Application & Collections process demonstrates a strong control environment with well-designed, consistently operating, and actively monitored controls. Documentation is current, segregation of duties is enforced, and management review is evidenced. Minor opportunities for continuous improvement exist but do not represent material risk.
Strengths
- Cash receipts are applied to customer accounts timely... 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
- Training and awareness programs support control understanding
Gaps
- Access recertification cadence does not meet policy requirements
- Exception handling procedures are informal and inconsistently applied
Recommendations
- 1Automate exception detection and route alerts to control owners within 24 hours
- 2Establish a quarterly monitoring schedule with documented results and sign-off
- 3Implement a workflow tool that captures reviewer identity and timestamp for all approvals
Framework Mapping
COSO 2013
Principle P10Principle P11
SOX 404
ICFR.O2C.CA.01
IIA Standards 2024
IV.9.2
Control-Level Breakdown (1)
O2C-CA-01StrongScore: 89/100
Cash receipts are applied to customer accounts timely and accurately.
Key Finding
The control is well-designed and operating effectively. Cash receipts are applied to customer accounts timely and accurately. Evidence of consistent execution and monitoring was observed.
Recommendation
Continue current practices. Consider automating remaining manual steps to sustain the control with less effort.
Framework Tags
COSO P10COSO P11ICFR.O2C.CA.01IIA IV.9.2