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Fraud, Risk Management & Compliance 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.
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
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
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
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.
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
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.
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
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
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!
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