Better Controls A business imperative. In todayâ€™s rapidly changing economy, there is an increasing need for simple and effective systems for internal control. Poor corporate governance can destroy reputations, stock prices, revenues and profitability.
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A business imperative
In today’s rapidly changing economy, there is an increasing need for simple and effective systems for internal control. Poor corporate governance can destroy reputations, stock prices, revenues and profitability.
Senior executives recognize that preventing fraud and revenue leakage is not just good business
it has become essential for survival.
Organizations typically lose about 5% of annual revenues to fraud, with the
average scheme going undetected for 18 months.
Organizations with controls in place, however, detect fraud sooner and report significantly lower losses.
Internal controls help ensure financial information is correct, businesses are operating optimally and assets are safeguarded.
The implementation has results
Continuous Monitoring or Auditing?
Traditional audit methods are inefficient and less effective—with tangible organizational costs.
It takes an average of 342 days to detect a fraud, at which point 89% of all proceeds are unrecoverable.*
*KPMG Fraud Survey
Non-Compliance & Regulatory Fines
FCPA (Foreign Corrupt Practices Act)
Sarbanes - Oxley
Highlight the costs of NOT using Data Analytics.
Provide a quick response
to operational changes
when used as a risk assessment tool.
Increase timeliness of control failure detection and quickly mitigate the risk of ongoing control failures.
Who benefits from INSPECT Data Analytic Solutions?
Identify risks that weren’t evident
Known areas of weak internal controls
Key performance indicators
100% transaction testing to reduce operational,
compliance and financial risks:
Provide a quick
when used as a risk
Provide cost savings and stop revenue leakage:
of control failure
quickly mitigate the
risk of ongoing
Facilitate fraud detection:
become aware of
the level of detail
you like to monitor
for ongoing risk?
What are your areas of
Where do you have large
amounts of data?
Do you have disparate systems that
may increase risk?
What analysis is
currently time intensive?
There is no limit on the size of data that can be analyzed.
Compare multiple systems.
Enabling a Sustainable Data Analytics Program
Make it repeatable!
solution for continuous monitoring of internal controls. By automating tasks that are often inconsistent, inefficient and ineffective, the solution affords you the best opportunity for early detection.
This complete solution allows you the freedom and peace of mind to concentrate on what’s important:
Making critical decisions
Building relationships Growing your business
You can set the monitoring system to run as frequently, or infrequently, as you would like.
Do you want to manage the process yourself?
Would you like INSPECT to manage the process and provide access
to reports and exception detail?
Improve your audit coverage and productivity
Enhance quality and consistency by embedding analytics into audit processes
Conduct more efficient, secure and faster analysis
Gain more timely insight into fraud, errors and inefficiencies
Reduce risk, lower costs and increase organizational performance