Executive Management and Audit Committee Support
With Oversight’s continuous monitoring solution, senior executives and managers have immediate insight into the health and well-being of their financial operations in the context of balanced scorecards, operational metrics, and control expectations. Oversight’s continuous auditing features support strategic analysis of risks and compliance, and address requirements for self-testing. Continuous monitoring provides immediate insight into privileged user activities, and unparalleled enterprise visibility into errors, misuse, and fraud. Exceptions can be categorized by control objective, business unit, geography, category and even risk level. In addition, the Oversight solution monitors its own workflow system and notifies management of chokepoints, errors, and misuse – even potential collusion.
Audit Committee Members and CFOs
Oversight provides solutions that help audit committee members achieve a new level of assurance about the integrity of financial reporting while delivering operational insight with a compelling ROI for a company's financial executives. How is this possible?
Sophisticated analytics. Oversight's software monitors the integrity of transactions in the general ledger to detect anomalous entries or patterns that might indicate management override of internal controls – and possible fraud. For audit committee members, this additional level of monitoring delivers another layer of protection against fraud at a very modest price. In parallel, Oversight's continuous monitoring enables CFOs to find mistakes or patterns of misuse in accounts payable, payroll and travel & entertainment. Found errors in these operational systems can mean an immediate ROI.
Balanced results. A win for the board; a win for the CFO. Few systems enable a company to achieve both the strategic protection from fraud and the operational insight that enables recovery of erroneous transactions. Because Oversight takes a comprehensive view across the entire spectrum of financial reporting systems, it can detect both honest clerical errors and more sophisticated acts of deception. More importantly, the periodic or ongoing analysis delivered by Oversight complements the formal audit process and can highlight areas of risk that require more investigation or explanation.
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