Cash Applications Observations Memo

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Screenshot of the first page of Cash Applications Observations Memo

This memo highlights the results of internal audit's findings related to an organization’s finance subcommittee (FSC) cash applications process. It discusses change notifications, analysis impact documentation, and actions and responses. Memo sections include background information, executive summary (including objectives and approach and key findings), and observations and recommendations (including an action plan and management response).

In this sample, internal audit conducted observations of the entire organization's FSC cash applications process and included recommendations for system improvements.

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