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Capabilities Close-Up

Finding your audit’s starting point can sometimes feel like trying to find a needle in a haystack. We know because we’ve been there. As auditors ourselves, we used to dread the painful process of spending hours collecting, preparing and analyzing data from hundreds of Excel spreadsheets originating from the finance, human resources, accounting and IT departments. It’s a tedious, confusing process that monopolizes time, resources and energy.

Business Solutions

Anti-Money Laundering Compliance

Cash lends to anonymity and is therefore a common medium of exchange for many forms of criminal activities such as drug and arms trafficking as well as fraud and corruption.

Anti-Bribery & Corruption Overview

Entering into foreign markets can bring rewards of new revenue growth. If care is not taken, it can also introduce unnecessary risks such as damaged reputations and huge fines that can erode profitability.

CaseWare P-Card Solution

While P-Card programs have helped save time and money they can also bring new and unforeseen risks.CaseWare P-Card Solution ensures program efficiency and growth while improving controls and maximizing program performance.

Data Quality Management

With “the world’s information doubling every two years,”1 data has overtaken intuition as the key advantage to drive business growth and increase market share. Numerous sources indicate that a large percentage of mission-critical systems —such as ERPs, CRM and data warehouses — are not producing full value due to faulty data.

Loan Portfolio Monitoring Overview

Lending is a key business activity in the financial services sector. The loan portfolio is one of the largest assets and a chief source of revenue for banks, but is also a great source of risk to a bank’s safety and soundness.

Payroll Monitoring Overview

One principal across all businesses is Payroll. It is often the subject of error, fraud and theft, due to changing variables such as complex tax regulations, time tracking, attendance, incentive based pay and changes in contractual salary agreements.

Procure-to-Pay Overview

The purchase to payment process (P2P) remains one of the most complex business processes, often spanning multiple systems and operations. Despite the level of automation, including enterprise resource planning (ERP) implementations, P2P remains an area prone to fraud, money leakage and inefficiencies.

Revenue Assurance for Utilities

Revenue Assurance is the methodology of increasing an organization’s income by
identifying areas where revenue gets lost and minimizing these losses by eliminating or fixing the source of the leaked revenue.

Segregation of Duties Overview

The main elements required for fraud are motivation and opportunity. Accordingly, the best opportunity a company can offer a fraudster is weak or nonexistent Segregation of Duties (SoD).

Travel and Expense (T&E) Monitoring

The Association of Certified Fraud Examiners (ACFE) reports that 15% of all frauds involve expense reimbursements with the average time for detection being 24 months, at which point almost 90% of the proceeds lost are unrecoverable.

Industry Solutions

Banking & Finance Solution

Financial institutions are powered by high-volume transactions, demand varying data formats and are regulated by strict regulations such as The Proceeds of Crime Act (POCA), The Bank Secrecy Act (BSA), Basel II, Sarbanes Oxley (SOX) and the USA Patriot Act.

CPA Services

CPA and consulting firms operate within an environment of high expectations from both its clients and the external public. Regardless of size, CPA firms are always looking for new and innovative ways to add its existing customer base while attracting new clientele.

Education Solution

Today’s educational institutions do far more than educate students in a classroom. They provide a broad range of services such as meals, lodging, medical care, retail and security-related services.

IDEA Applications for Financial Analysis

Here are some examples of analyses that can be performed using IDEA. Data from different systems can be brought together for complete analysis. Ultimately, you are only limited by your imagination.

Government Solution

Decreasing tax revenues, demand for social benefits and the ongoing desire for good customer service are all common challenges facing federal and local governments. Managing billions of dollars of public funds come with increases pressure and responsibility.

Healthcare Solution

With growing concerns about how best to care for aging populations and ongoing health reform, healthcare organizations that can adjust quickly to changing dynamics will be best prepared to succeed in the short and long-terms.

Insurance Solution

Insurance fraud can be committed at various points in the claims transaction process by different parties inclusive of claimants, policyholders and other third-parties. The Federal Bureau of Investigation (FBI) states that “the total cost of insurance fraud is estimated to be more than $40 billion per year.

Manufacturing Solution

Here are some examples of analyses that can be performed using IDEA. Data from different systems can be brought together for complete analysis. Ultimately, you are only limited by your imagination.

Retail Solution

According to The Centre for Retail Research an estimated 58% of all shrinkage is attributable to internal theft and errors in vendor/supplier related activity. In an industry with razor thin margins, fraud, errors or inefficiencies in any aspect of the business could be the difference between profit and loss.

Telecoms & Utilities Solution

The telecommunications and utilities industries are in a constant wave of innovation, pushing new generations of technologies, with the hopes of driving revenue growth, improved profits and increased cash flows.