Control Intelligence

AI Analysis Results

Payments & Treasury Release — Procure-to-Pay (Procurement & AP)

Back to Sub-Process
74
/ 100
Adequate
Overall Sub-Process Rating
Adequate — Control exists and operates; minor enhancements possible.
1 control evaluated4 strengths identified2 gaps identified
Executive Summary

The Payments & Treasury Release 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
  • Outgoing wires and ACH batches require dual approval.... is consistently executed
  • Management review is performed on a regular cadence
  • Training and awareness programs support control understanding
  • Key controls are documented in a centralized repository
Gaps
  • No automated alerting for control threshold breaches
  • Remediation timelines are not tracked against defined SLAs
Recommendations
  1. 1Automate exception detection and route alerts to control owners within 24 hours
  2. 2Conduct an annual control design assessment aligned with framework updates
  3. 3Implement a workflow tool that captures reviewer identity and timestamp for all approvals
Framework Mapping
COSO 2013
Principle P10Principle P11
SOX 404
ICFR.P2P.PAY.01
IIA Standards 2024
IV.9.2

Control-Level Breakdown (1)

P2P-PAY-01AdequateScore: 67/100
Outgoing wires and ACH batches require dual approval.
Key Finding

The control is in place and generally operating as intended. Outgoing wires and ACH batches require dual approval. Minor documentation or timeliness gaps were noted but do not represent material risk.

Recommendation

Enhance documentation and monitoring for: outgoing wires and ach batches require dual approval. Ensure review evidence includes timestamps and reviewer identity.

Framework Tags
COSO P10COSO P11ICFR.P2P.PAY.01IIA IV.9.2