Fraud, Risk Management & Compliance Solutions

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