Internal Audit Solutions
Oversight’s continuous monitoring solution supports all system-based audit requirements, with built-in report and dashboard features that audit professionals can easily configure to present continuous risk reports with color-coded risk ratings (i.e., red, yellow, and green) for all key control objectives. In addition, threshold-oriented reports automatically alert audit professionals when control- and compliance-related exception levels have exceeded defined “operational norms.” These risk, control, and compliance reports are based on real-time, 100% inspection of the business transactions and entities associated with the transactions. In line with the PCAOB’s new risk-focused guidance, using Oversight provides risk-based early warning of potential fraud, misuse, and material levels of errors, performing an automated risk analysis that replicates the thought processes of an army of auditors. The triangulation of transactions, entities and organizational policies permits the system to highlight the highest risk areas for upcoming audits and root-cause analysis.
Anti-Fraud Programs and Controls (AFPC) Support
The Oversight Continuous Monitoring Solution serves as the most powerful anti-fraud control in the corporate arsenal. SOX and OMB Circular A-123 mandate the implementation of strong continuous monitoring programs to address the risk of fraud and corruption. With Oversight in place, you can quickly and effectively address a wide spectrum of fraud schemes, everything from insider trading to management override of controls.
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