Oversight Systems CEO Patrick Taylor Leads Discussion of Emerging Trends and Leading Practices
for Institute of Internal Auditors
IIA News & Event Highlights Need for Transaction Integrity Monitoring at Aug. 16-18 Conference
ATLANTA - Aug. 5, 2004 - The Institute
of Internal Auditors will emphasize the
developing practice of transaction integrity
monitoring at its Emerging Trends and Leading
Practices conference Aug. 16-18 in Palm
Beach, Fla. Oversight Systems CEO Patrick
Taylor Oversight Systems will lead a conference
session on the subject Aug. 18 at 11:20
a.m.
Taylor's presentation entitled Transaction
Integrity Monitoring: the Last Line of Defense
will highlight the need to independently
verify the compliance of each transaction.
The session will explore how continuous
monitoring solutions can automate the same
tests and high level of scrutiny that internal
auditors or fraud examiners manually employ.
"In the past, internal auditors relied on
sample-based audits and manual testing procedures
to identify payment errors and financial
transactions that circumvent controls,"
Taylor said. "However, the increasing rise
of automated financial transactions and
the dependence upon controls within financial
systems demands a new approach for internal
auditors to assess the integrity of every
transaction."
In March, Oversight Systems introduced the
industry's first transaction integrity monitoring
system. Oversight's customers include members
of the Fortune 500 who rely upon Oversight's
patent-pending solutions to monitor their
enterprise financial systems to detect,
prevent and deter financial loss from systems-based
errors, misuse and misconduct.
About Oversight Systems, Inc.
Oversight takes continuous monitoring to the next level by combining an audit data warehouse, advanced analytics and workflow into a single, integrated, application. By inspecting each step of individual transactions across systems, Oversight identifies errors, control violations and fraud to drive higher levels of performance and compliance. Oversight's platform automates the entire life cycle finding problems in business processes, fixing those problems and proving the problems were resolved. Oversight is the solution of choice for those CFO's, CIO's and CISO's serious about compliance and enhancing their financial performance. For more information, visit www.oversightsystems.com.
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