IDEA Users Working Remotely: We’re here to help! Please contact our IDEA Help Desk to ensure there is minimal disruption to your daily workflow. Fraud, Risk Management & Compliance Solutions Solutions
Ever-changing compliance requirements and ever-present
fraud and risk can have a significant impact on any organization, well beyond financial loss. Data analytics can help you identify weaknesses in regulatory compliance process and mitigate risks to avoid potential legal trouble and fines. CaseWare IDEA® simplifies compliance by identifying areas where controls are weak or absent, and potential areas of vulnerability.
Use IDEA for Fraud, Risk & Compliance to:
Analyze 100% of transactions to search for patterns indicative of
fraud or irregularities
Evaluate the underlying processes, systems and controls to manage risks
Prepare for compliance audits such as FCPA, Sarbanes-Oxley, DATA Act, Dodd-Frank Act, etc.
Identify areas of potential non-compliance, bribery and corruption to prevent steep penalties
Leverage automated analytics to conduct more regular audits of high-risk areas
Produce a clear audit trail of every action taken
We can help you put data analytics to work to prevent unnecessary losses due to fraud or non-compliance, and deliver findings so accurate and reliable they will stand up to intensive scrutiny. Success Story
Global Chemical Company Automates Risks Identification with CaseWare IDEA
See how they did it! Fraud, Risk & Compliance Solutions - More Information Kickback & Conflict of Interest Schemes Compare employee address, SSN, phone numbers, etc. to those in the vendor master file Look for vendor prices greater than standard Check for continued purchases in spite of high rates of returns, rejects or credits Look for high volume purchases from one vendor Due Diligence Sort, stratify and summarize historical financial transactions Cross-check customer addresses and tax IDs to owner/employee addresses to identify related parties Analyze timing of payments Questionable Invoices Identify invoices without a valid purchase order Look for invoices from vendors not in approved vendor files Find invoices for more than one purchase order authorization Identify multiple invoices with the same item description Extract vendors with duplicate invoice numbers Look for multiple invoices for the same amount on the same date Find invoice payments issued on non-business days (e.g., Saturdays and Sundays) Identify multiple invoices at or just under approval cut-off levels Payments Search the payments file for payees without "Inc", "plc", and "Ltd" in their names to identify payments to individuals (using the @Isini @Function) Stratify the size of payments and extract any exceptionally high payments If payments are made by electronic transfers, extract lists of bank codes and account numbers from both the P/L payments files and the payroll. Compare to see if any accounts match. Accounts Payable Compare voucher or invoices against purchase order amounts Find invoices without purchase orders Look for distributors to suppliers not in suppliers’ master file Identify invoices posted with duplicate purchase order numbers Accounts Receivable Report and automatically age total receivables Identify credit limit exceptions Generate summaries by customer, invoice, amounts, etc. Identify duplicate invoices, credits or receipts Summarize client days to payment by customer, sales rep, region, etc. Payroll Isolate entries against authorization records for new or terminated employees Analyze costs for special pay, overtime, premiums, etc. Compare time card rates to payroll to look for variances Compare employee tax identification numbers, phone numbers and addresses to vendor information for payable to identify potential conflict of interest Vendors Identify unauthorized vendors by monitoring master data changes created and/or approved by an unauthorized employee Identity vendors where alternate payee names have been alternated multiple times within X days Identify vendors with multiple changes to bank account number within a specified time period Identify frequent use of one-time vendor agreements Identify transactions to vendors or individuals in high-risk jurisdictions Procurement Identify payments for large amounts without proper documentation Identify cumulative payments for two or more transactions that were approved by the same employee to the same vendor exceeding or within a percentage below the authority limit Identify bonuses or commissions of unusual quantity or timing Identify payments made following manual overrides in the system Identify purchase orders where the total payment amount was greater than the total purchase order amount Identify invoices where the invoice receipt amount is greater than the good receipt amount Travel & Entertainment Identify charitable contributions or entertainment expenses to organizations with government affiliations Identify multiple gifts to a single individual Identify unauthorized travel and expense cards Identify segregation of duties violations, e.g., submitter is the same as approver Let's Put Data Analytics to Work for You! BROWSER NOT SUPPORTED
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