Risk Management - Audit Analytics
Each audit begins with data sampling and identification of potentially irregular records which might to turn to be erroneous, inefficient or fraudulent transactions. This is the most tedious, laborious and inefficient task – to design and implement non-specific basic audit test. The Audit Analytics ™ tool does exactly that.
Based on work of Dr. M. Nigrini, AA performs continuous(24/7), comprehensive(100% of data, no sampling required) monitoring of transactions and yet flexibleenough to be configured to connect to any subject area – be it Payroll, Inventory, Purchasing, Employee Expenses, etc
Test results provide data profiling, BenfordLaw compliance, stratification, gap in sequence, aging, RSF (Relative Size Factor) and other tests specified in audit literature and practice (see references). Graphs and notifications can be added per client specification.
After initial installation system requires no maintenance until source data structure or format is not changed
We also schedule regular updates (daily, weekly, on-demand), so that the reports are reflect changes in source data. System can be configured to generate alerts (emails) or other notifications, when certain conditions are met
System can updated (new subject are connected, categories added, etc.) at any time, when needed.
For more information email AArequest@powercubeslab.com