Oversight Systems Sponsor of Rutgers' 14th World Continuous Auditing and Reporting Symposium
CEO Patrick Taylor Speaks on the Latest Developments in Continuous Monitoring/Auditing Software
ATLANTA (November 7, 2007) – Oversight Systems, the leading provider of automated continuous monitoring solutions, was a sponsor of Rutgers Business School's 14th World Continuous Auditing and Reporting Symposium over the weekend. The event drew industry and academic leaders in the field, and featured panels, presentations and research sessions centered around the symposium theme, "Where are we today?" Oversight Systems CEO Patrick Taylor participated in two panel sessions, discussing continuous auditing/monitoring software and software support.
"Continuous auditing has emerged as a best practice among audit professionals, especially when it comes to detecting and preventing fraud," Patrick said. "Citing the inherent limitations of ICFR when it comes to preventing and detecting improper management override of controls, a recent SEC directive instructs companies to be prepared to mitigate these limitations by designing into the process safeguards to reduce this risk. This requires that auditors have a solid understanding of emerging technologies to automate the process, and these types of events and discussions help these professionals respond effectively to new directives and regulatory guidance."
In the panel discussions, Taylor presented the latest information on Oversight Systems' leading continuous transaction monitoring technology, which automates the testing and analysis of auditors and fraud examiners against every transaction across multiple financial systems to identify and prevent errors, control exceptions and combat fraud.
Benefits of Real-Time Transaction Monitoring
- Analyze transactions across multiple financial systems and various technology platforms
- Ensure financial process accuracy by inspecting for quality at every transaction
- Eliminate the need for recovery auditors with real-time detection of payment errors
- Address fraudulent financial reporting risk by inspecting General Ledger postings for unusual and suspicious entries
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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