Better Business Through Data Analysis & Monitoring My Account

O&G Supplier Uses IDEA to Test Controls Across Multiple ERP Systems

Analytic Toolbox Helps Test Revenue & Receivables Controls

Client:

A Global 500 supplier of technology, integrated project management and information solutions to the oil and gas industry needed to process data from their ERP systems to test controls for revenues and receivables.

Challenge:

Large amounts of data, stored in multiple ERP systems and formats, created a challenge for auditors to effectively test critical financial areas. The company also needed a way to produce, manage and share results.

Solution:

The Solutions Development team created a suite of customized tests designed to interrogate financial data for outliers and anomalies. A custom IDEAScript was developed to automate the testing process and deliver consistent results.

Results:

The Analytic Toolbox enabled the client to process seven different data sets in multiple locations, and import the data into IDEA for testing. Results were presented in pivot table format and included color codes to quickly identify key areas of interest.  The Toolbox also helped automatically configure date formats for global consistency. The new solutions provided consistent results and improved preparation of revenue data to assist field auditors with performing inspections.

 

Print

Number of views (3067)/Comments (0)

Tags:

Please login or register to post comments.

Name:
Email:
Subject:
Message:
x
Take a Lean Six Sigma Approach Using Data Analytics
16 October 2018

Take a Lean Six Sigma Approach Using Data Analytics

Read More

Infusing Python into Your Analysis with IDEA
6 October 2018

Infusing Python into Your Analysis with IDEA

IDEA Tech Tip

This Tech Tip we share some examples of how equivalent tasks in IDEAScript can be made much simpler in Python.

Read More

Global Chemical Company Automates Risks Identification with CaseWare IDEA
14 September 2018

Global Chemical Company Automates Risks Identification with CaseWare IDEA

Global corporation used IDEA to standardize & develop an automated process to comply with anti-corruption policy.

Read More

Telecommunications Provider Turns Two Days of Work Into 20 Minutes with CaseWare IDEA®
14 September 2018

Telecommunications Provider Turns Two Days of Work Into 20 Minutes with CaseWare IDEA®

Auditors Analyzing Hundreds of Millions of Records to Track Buying and Usage Patterns

One of the world’s largest telecom companies' internal audit team leverages tech to analyze trends, tendencies & patterns within customer & financial data.

Read More

Exploring IDEA's Built-In Power of Python
20 August 2018

Exploring IDEA's Built-In Power of Python

IDEA Tech Tip

With the release of version 10.3, IDEA created a buzz with its implementation of the Python scripting language, thereby taking a huge step towards having a more robust coding environment.

Read More

Sharing IDEA Data Using IDEA's ODBC Driver
18 July 2018

Sharing IDEA Data Using IDEA's ODBC Driver

IDEA Tech Tip

Read More

Oncor Achieves Operational Efficiencies with CaseWare IDEA
25 June 2018

Oncor Achieves Operational Efficiencies with CaseWare IDEA

Oncor's internal audit team needed to acquire years of data from different environments and formats to help improve processes and efficiency levels.

Read More

Analyzing the Past to Predict the Future with Trend Analysis
18 June 2018

Analyzing the Past to Predict the Future with Trend Analysis

In business, predicting the future is never an easy task. But IDEA can help as long as you have the right data, and Trend Analysis can help.

Read More

2018 IDEA® User of Excellence Award Winner Selected
15 June 2018

2018 IDEA® User of Excellence Award Winner Selected

Jennifer Girard, CIDA with American Red Cross Recognized for Exceptional Use of Data Analytics

Jennifer Girard, Sr Auditor with the American Red Cross is the recipient of the 2018 US IDEA UoE Award. She utilized IDEA to assist Finance Department during a natural disaster.

Read More

The Rules of Nature and Audit
6 June 2018

The Rules of Nature and Audit

What’s missing is often as important as what’s present. The rules of nature apply very well to audit if you consider, “Everyone knows it, but do you test for it?”

Read More

Using IDEA to Import QuickBooks General Ledger Data
4 June 2018

Using IDEA to Import QuickBooks General Ledger Data

The General Ledger is typically the starting point to an expanse of detailed information, see a step-by-step guide on how to get a readable version in idea.

Read More

New Features in IDEA 10.3 Part II
10 May 2018

New Features in IDEA 10.3 Part II

IDEA Tech Tip

In a recent article, we introduced the improvements to Stratified Random Samples and Python integration added in IDEA 10.3. But that’s just a small part...

Read More

Cargo Company Swaps Programming-Intensive Data Analytics Software for CaseWare IDEA
10 May 2018

Cargo Company Swaps Programming-Intensive Data Analytics Software for CaseWare IDEA

Auditors Achieve More Success in First Year with IDEA Than 5+ Years with Other Tool

With the entire audit team up and running using data analytics, they are finding new ways to integrate IDEA into other areas of the business and automate repeatable processes.

Read More

Maximizing Your Environment - Global Variables
8 May 2018

Maximizing Your Environment - Global Variables

Consider scope to be a building in which people work. The tools required to accomplish their tasks will of course be housed in that building, but in scripting it’s important to determine which tools need to be shared among the buildings.

Read More

RSS