{"catalogRevision":"24028ffcfc2b295fa1b08ee6caa84b765f0731b321496bf4f548c49ad2177028","kind":"record","record":{"attributes":{"category":"financial_reporting","domain":["Financial Reporting Controls (SOX)"],"inherent_rating":"high","taxonomy":["sox-rmm-assertion"]},"canonicalUrl":"https://controlsmap.com/?v=1&node=risk%3Afin-existence-overstatement","description":"Revenue, receivables, inventory, capitalized assets, prepaid expenses, treasury investments, or tax assets recorded without underlying existence or occurrence — inflating the balance sheet and income statement.","details":{"category":"financial_reporting","impact":"high","inherent_rating":"high","likelihood":"medium","risk_id":"fin-existence-overstatement","taxonomies":["sox-rmm-assertion"],"treatment":"mitigate"},"id":"risk:fin-existence-overstatement","mapUrl":"https://controlsmap.com/?v=1&node=risk%3Afin-existence-overstatement","sourceIds":["cobit-2019","nist-800-53","soc1","soc2","sox"],"sourceUrl":null,"title":"Overstatement of assets/revenue (existence & occurrence)","type":"risk"},"relationships":[{"expectedCatalogRevision":"24028ffcfc2b295fa1b08ee6caa84b765f0731b321496bf4f548c49ad2177028","id":"rel:31ea77b7876a0049f03ed5af95891c225ceb782737684b01042355db3abb5d47","properties":{"rationale":"Periodic counts reconciled to records verify asset/inventory existence, catching overstatement.","strength":"primary"},"sourceDetailPath":"/data/v1/records/uc-uc-fin-10-f87a53c1.json","sourceId":"uc:UC-FIN-10","targetDetailPath":"/data/v1/records/risk-fin-existence-overstatement-0e009631.json","targetId":"risk:fin-existence-overstatement","type":"mitigates"},{"expectedCatalogRevision":"24028ffcfc2b295fa1b08ee6caa84b765f0731b321496bf4f548c49ad2177028","id":"rel:74a90d774e2c69425b083c4545a4c9227ee5937951e4236d687fccf4cad357d2","properties":{"rationale":"Approval per delegation-of-authority before recording prevents unauthorized/fictitious transactions.","strength":"primary"},"sourceDetailPath":"/data/v1/records/uc-uc-fin-04-70e42862.json","sourceId":"uc:UC-FIN-04","targetDetailPath":"/data/v1/records/risk-fin-existence-overstatement-0e009631.json","targetId":"risk:fin-existence-overstatement","type":"mitigates"},{"expectedCatalogRevision":"24028ffcfc2b295fa1b08ee6caa84b765f0731b321496bf4f548c49ad2177028","id":"rel:86e9d0ba4c2d71dcd122ddf867dccc7264fd408042503f03a45a19a142214ed9","properties":{"rationale":"Three-way match prevents recording purchases/payables without underlying receipt.","strength":"related"},"sourceDetailPath":"/data/v1/records/uc-uc-fin-07-880ee951.json","sourceId":"uc:UC-FIN-07","targetDetailPath":"/data/v1/records/risk-fin-existence-overstatement-0e009631.json","targetId":"risk:fin-existence-overstatement","type":"mitigates"},{"expectedCatalogRevision":"24028ffcfc2b295fa1b08ee6caa84b765f0731b321496bf4f548c49ad2177028","id":"rel:8d09bed430ac28b30f60bb6ea9ccd37bf349e41772da11fc7e4f96ec98784afe","properties":{"rationale":"Analytical review of balances and reconciliations detects overstated or non-existent assets and revenue.","strength":"primary"},"sourceDetailPath":"/data/v1/records/uc-uc-fin-02-9127de7b.json","sourceId":"uc:UC-FIN-02","targetDetailPath":"/data/v1/records/risk-fin-existence-overstatement-0e009631.json","targetId":"risk:fin-existence-overstatement","type":"mitigates"},{"expectedCatalogRevision":"24028ffcfc2b295fa1b08ee6caa84b765f0731b321496bf4f548c49ad2177028","id":"rel:8e9356e1aafa162e56d7ec0b8878ef0e0ae86695d6b9ef63446429a8dc7225a0","properties":{"rationale":"Authorization validation of inputs reduces unauthorized/fictitious entries entering processing.","strength":"related"},"sourceDetailPath":"/data/v1/records/uc-uc-access-20-92554410.json","sourceId":"uc:UC-ACCESS-20","targetDetailPath":"/data/v1/records/risk-fin-existence-overstatement-0e009631.json","targetId":"risk:fin-existence-overstatement","type":"mitigates"},{"expectedCatalogRevision":"24028ffcfc2b295fa1b08ee6caa84b765f0731b321496bf4f548c49ad2177028","id":"rel:8f57527b3cce8428686cdd269d36bf4322357292c8f776e13325d0d55867c9fd","properties":{"rationale":"Reconciliation identifies recorded balances lacking support, catching overstatement.","strength":"primary"},"sourceDetailPath":"/data/v1/records/uc-uc-fin-03-a90abe13.json","sourceId":"uc:UC-FIN-03","targetDetailPath":"/data/v1/records/risk-fin-existence-overstatement-0e009631.json","targetId":"risk:fin-existence-overstatement","type":"mitigates"},{"expectedCatalogRevision":"24028ffcfc2b295fa1b08ee6caa84b765f0731b321496bf4f548c49ad2177028","id":"rel:91f8b904816ac650ed850c2a24deae14d930a3542c56602d1b25d3e816f3de7c","properties":{"rationale":"Separating authorization from recording reduces unauthorized/fictitious entries inflating balances.","strength":"related"},"sourceDetailPath":"/data/v1/records/uc-uc-fin-05-52738635.json","sourceId":"uc:UC-FIN-05","targetDetailPath":"/data/v1/records/risk-fin-existence-overstatement-0e009631.json","targetId":"risk:fin-existence-overstatement","type":"mitigates"},{"expectedCatalogRevision":"24028ffcfc2b295fa1b08ee6caa84b765f0731b321496bf4f548c49ad2177028","id":"rel:d0747ab9cfbb90840ef57c08224a6bbd2a663a1ffbed39d12043f1341e16292b","properties":{"rationale":"Authority/validity controls reduce recording of invalid or unauthorized transactions.","strength":"related"},"sourceDetailPath":"/data/v1/records/uc-uc-bcdr-14-997de451.json","sourceId":"uc:UC-BCDR-14","targetDetailPath":"/data/v1/records/risk-fin-existence-overstatement-0e009631.json","targetId":"risk:fin-existence-overstatement","type":"mitigates"},{"expectedCatalogRevision":"24028ffcfc2b295fa1b08ee6caa84b765f0731b321496bf4f548c49ad2177028","id":"rel:e0ee5e557a0991377906103899e94396546f81fd7b5857ebeb83ca4c5c77ffbb","properties":{"rationale":"'Processed only once' controls prevent duplicate records inflating balances.","strength":"related"},"sourceDetailPath":"/data/v1/records/uc-uc-fin-08-8e7468dd.json","sourceId":"uc:UC-FIN-08","targetDetailPath":"/data/v1/records/risk-fin-existence-overstatement-0e009631.json","targetId":"risk:fin-existence-overstatement","type":"mitigates"}],"schemaVersion":1}