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CaseWare IDEA Applications
Schools have many of the standard ledgers, payroll and accounts payable can be key concerns. Typical test areas include:
- Identify fully depreciated items and assets higher than replacement cost
- Recap asset values, in value order, by net or cost amount
- Recalculate expense and reserve amounts using replacement costs
- Compare useful lives of assets by category
- Extract assets with useful lives or depreciation rates beyond set norms.
Kickback or Conflict-of-Interest Schemes
- Look for vendor prices greater than the standard
- Identify price increases greater than acceptable percentages
- Check for continued purchases in spite of high rates or returns, rejections, or credits
- Look for high volume purchases from one vendor
Phantom Vendor Schemes
- Match names, addresses, and phone numbers between employee and vendor files
- Check vendor addresses against marketing address lists
- Monitor the retention of various records and documents to ensure compliance with government (Federal State) and/or local regulations
- Extract transactions by funding code, fiscal year, and obligation control level and then compare to encumbrances
- Analyze rates and license fees on licenses to determine bylaw compliance
- Match vendor address files with employee address files to ensure compliance with vendor restrictions
- Extract purchase orders below the dollar amount requiring compliance with sealed bids
- Extract transactions of assets funded by federal grants to ensure compliance with grant requirements
- Sort contracts databases by contract or cost types to test compliance with government contract terms
Areas of Applications
- Identify invoices without a valid purchase order
- Look for invoices from vendors not in the approved vendor file
- 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 day
- Find invoice payments issued on non-business days (e.g., Saturdays and Sundays)
- Identify multiple invoices at or just under approval cut-off levels
, CaseWare IDEA
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