Oracle has functionality or workflow for additional approval in the AR for refunds?

Summary:

The business is not just concerned about the amount that the refund gets created for, but who creates the refund and for what account and customer. 

Currently the system has limits for how much a refund can be created for and certain users get assigned these limits, but there is no 'check' that confirms whether the refund request is valid, thus the need for an additional approval. We are wondering if Oracle has this functionality or workflow for additional approval in the AR module. 

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