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CaseWare Monitor

CaseWare Monitor. Presented by: [Dan Netanyahu] [CEO] [IACS]. What is Monitor?. Framework – Consistent regardless of Application Continuous Visibility – Across Businesses, Systems, Data Business Processes – Monitor any Operational Entity

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CaseWare Monitor

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  1. CaseWare Monitor Presented by: [Dan Netanyahu] [CEO] [IACS]

  2. What is Monitor? Framework – Consistent regardless of Application Continuous Visibility – Across Businesses, Systems, Data Business Processes – Monitor any Operational Entity Stakeholders – Management, BPO, I/E Audit, Finance Identify – Active Detection Manage – Controls with BPOs Risk – Issues that affect the Business Fraud – Material Gain outside the normal course of business Money Leakage – Operational Loss due to Inefficiency, etc Revenue Optimization – Tangible Gain from Improvements A framework that enables continuous visibility into business processes, allowing stakeholders to identify and manage high risk situations, prevent fraud and money leakage and achieve compliance and revenue optimization.

  3. Periodic Audits Actual Expected Effectiveness Controls Effectiveness Audit 1 Audit 2 Audit 3 Time Source: Continuous Auditing From a Practical Perspective, Kevin Handscombe

  4. Continuous Audits Actual Expected Effectiveness CA CA CA CA CA CA CA CA CA Controls Effectiveness CA CA CA Time Source: Continuous Auditing From a Practical Perspective, Kevin Handscombe

  5. Consider the Following • A Cashier was acting as a Supervisor last week. • She had access to discount, change prices, etc. • This week, IT reassigned the Cashier role to her, but the Supervisor role was not removed. • She can now do both Cashier and Supervisor functions. • Normal discounts are below 5% and amounts are below $100. • She enters and approves excessive discounts at the point of sale for friends and family. • In 5 days the company loses US$7,300.

  6. Without Monitoring

  7. With CaseWare Monitor

  8. Why not Detected? • There is nothing suspicious about her physical activities. • A security guard at the door cannot check prices. • She is abusing 1 in 2,000 of her transactions and 1 in 400,000 transactions across all stores. • The Cashier’s Till reconciles at the end of day.

  9. Too Little, Too Late It takes an average of 342 days to detect a fraud, at which point 89% of all proceeds are unrecoverable. KPMG Forensics Fraud Survey

  10. Continuous Controls Monitoring Monitoring business data to prevent losses. Advanced notification and alert systems. Escalation of unresolved issues. Manage alerts to closure. Single portal for the enterprise. Facilitate numerous roles in resolving the issues.

  11. The CaseWare Monitor Concept

  12. Configuring the Remediation Workflow

  13. CaseWare Monitor Client Startup Splash Screen Login Screen

  14. Main User Dashboard

  15. Main Reporting

  16. Workflow and Remediation

  17. Reassigning Exceptions

  18. Audit Trails

  19. Enquiries:[Dan Netanyahu][IACS][dan-n@iacs.co.il, 052-6358811]

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