Audit Automation

Fraud Detection

Fraud can have a substantial impact on your organization through not only financial loss, but it can also jeopardize compliance with regulations, damage morale, and affect market confidence and share value. Given that the typical organization loses a consistent amount of revenues to fraud and that it takes on average 18 months to uncover fraudulent activities, companies should be considering ways to proactively monitor their financial transaction to expose early indicators of fraud, error, and abuse.

Challenges

There are a number of issues however, that make effective fraud detection a particularly challenging task: extensive volumes of data, complexity and diversity of IT systems, changes in business processes, and the adaptive nature of fraud schemes. Many of the audit techniques currently in use to combat fraud come up short: sampling data leaves suspicious transactions undetected, use of spreadsheets is prone to errors, and testing of system controls leaves one vulnerable to exploitation of "gaps" between systems.

Profit from our Experience

Intranet Standard has contributed to key roles in the implementation of one of the most ambitious fraud detection systems worldwide. Our experiences follow from the integration of more then 600 different ERP systems encompassing over 100 different brands into a daily monitoring system. We can help you analyze your business and design a solution tailored to your needs while our ACL certified consultant can help you setup your system and implement your monitoring controls.

Contact us today for more details!