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CaseWare Monitor. Presented by: [Dan Netanyahu] [CEO] [IACS]. What is Monitor?. Framework – Consistent regardless of Application Continuous Visibility – Across Businesses, Systems, Data Business Processes – Monitor any Operational Entity

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caseware monitor

CaseWare Monitor

Presented by: [Dan Netanyahu]

[CEO]

[IACS]

what is monitor
What is Monitor?

Framework – Consistent regardless of Application

Continuous Visibility – Across Businesses, Systems, Data

Business Processes – Monitor any Operational Entity

Stakeholders – Management, BPO, I/E Audit, Finance

Identify – Active Detection

Manage – Controls with BPOs

Risk – Issues that affect the Business

Fraud – Material Gain outside the normal course of business

Money Leakage – Operational Loss due to Inefficiency, etc

Revenue Optimization – Tangible Gain from Improvements

A framework that enables continuous visibility into business processes, allowing stakeholders to identify and manage high risk situations, prevent fraud and money leakage and achieve compliance and revenue optimization.

periodic audits
Periodic Audits

Actual

Expected

Effectiveness

Controls Effectiveness

Audit 1

Audit 2

Audit 3

Time

Source: Continuous Auditing From a Practical Perspective, Kevin Handscombe

continuous audits
Continuous Audits

Actual

Expected

Effectiveness

CA

CA

CA

CA

CA

CA

CA

CA

CA

Controls Effectiveness

CA

CA

CA

Time

Source: Continuous Auditing From a Practical Perspective, Kevin Handscombe

consider the following
Consider the Following
  • A Cashier was acting as a Supervisor last week.
  • She had access to discount, change prices, etc.
  • This week, IT reassigned the Cashier role to her, but the Supervisor role was not removed.
  • She can now do both Cashier and Supervisor functions.
  • Normal discounts are below 5% and amounts are below $100.
  • She enters and approves excessive discounts at the point of sale for friends and family.
  • In 5 days the company loses US$7,300.
why not detected
Why not Detected?
  • There is nothing suspicious about her physical activities.
  • A security guard at the door cannot check prices.
  • She is abusing 1 in 2,000 of her transactions and 1 in 400,000 transactions across all stores.
  • The Cashier’s Till reconciles at the end of day.
too little too late
Too Little, Too Late

It takes an average of 342 days to detect a fraud, at which point 89% of all proceeds are unrecoverable.

KPMG Forensics Fraud Survey

continuous controls monitoring
Continuous Controls Monitoring

Monitoring business data to prevent losses.

Advanced notification and alert systems.

Escalation of unresolved issues.

Manage alerts to closure.

Single portal for the enterprise.

Facilitate numerous roles in resolving the issues.

caseware monitor client
CaseWare Monitor Client

Startup Splash Screen

Login Screen