Control Intelligence

Billing & Revenue Recognition

Invoice generation, ASC 606 / IFRS 15 compliance, deferred revenue tracking.

Sub-Process Score
32/ 100
Deficient
4/12 responses received
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Control Objectives (2)

O2C-RR-01
COSO P10COSO P16ICFR.O2C.RR.01IIA IV.9.2
Revenue is recognized in accordance with ASC 606 / IFRS 15 performance obligations.
Risk: Revenue misstatement from incorrect period or amount.
Assessment Questions (3)
  • 01Revenue recognition memo exists for each major product / contract type.Document
  • 02Manual revenue adjustments are reviewed by Technical Accounting.
  • 03Deferred revenue roll-forward is reconciled monthly.
O2C-RR-02
COSO P8COSO P12ICFR.O2C.RR.02IIA IV.9.4
Non-standard contract terms are reviewed by a qualified accountant before booking.
Risk: Side letters or unusual terms cause recognition errors.
Assessment Questions (2)
  • 01Contracts above a dollar threshold go through accounting review.
  • 02Side letters are prohibited and detected via sales-contract attestations.