D. Supkis Cheek PLLC is a CPA firm based out of Houston, TX. Specializing in segregation of duties and controls for small to mid-sized companies. She provides one of three services for them: help fix their control situation, do audit review knowing client has control issue, do forensics because there was an issue.
We were maxing out Excel on a pretty regular basis on their capabilities, with the bigger Excel package. We didn't max out the rows as often anymore, but what it really let us do moving to IDEA, is take the analytics and that kind of work to the next level. This allowed us to compete on services we were able to offer and that analysis we were able to do with the bigger firms, while still being a small firm and that small firm hand holding experience.
A Ponzi scheme is where new investor money that comes into the "business" but it's usually not a legitimate business operation. The investor inflows are used to payout dividends to existing investors, rather than investing in the business and the methods in which they were supposed to be used for. The ponzi scheme investigation we did have had a huge volume of data, especially for an office our size. Many difference entities – about 8 different entities and almost 4,500 intercompany transactions. We used IDEA to match up transactions, filter through data and be able to put together a very concise and cohesive presentation of how to prove the alleged ponzi scheme was in actuality of ponzi scheme.
IDEA has helped be more efficient with our time. Most of our clients are the smaller businesses that don't have huge budgets to spend on investigations or audits, and they want us to use our time efficiently. IDEA does help us use our time efficiently and expeditiously.