How does this application differ from the FRC Monthly Review Report that is currently available in Cognos?

FRC Monthly Review Report (Cognos)

• Select one month to review at a time
• Can limit based on profit centers, supervisors, or specific cost objects – based on Roles authorizations
• Tool is highlighting items that may be considered ‘high-risk’ i.e. JVs, Equipment, Items over $2500, etc.
• Link to generate a PDF Sign-Off sheet
• ‘Reviewed’ check box is only for on-screen display; does not get pulled into PDF reports

FRC Application

• Same logic for highlighting high-risk items, plus includes a 10% sampling of transactions in addition to those items
• Option to select Visual Review, Detailed Review, or Issue Identified.
• As items are reviewed, they are removed from your listing
• Keeps a running list of all transactions for the past 6 months still needing to be reviewed (activity for a new month will automatically appear on 4-5th business day of a new month)
• Web-based record keeping of FRC; empty inbox = sign off sheet; no need for printing/saving a Sign Off Sheet

Return to Financial Review and Control (FRC) Application FAQ