Are there any issues in your finance systems?
Forensic and Internal auditors, investigators and finance directors regularly face a specific array of challenges when analysing and/or auditing the general ledger and sub-ledgers. How, for example, can a company see the number of invoices that are coming from potential duplicate suppliers? Are there duplicate bank accounts in a company’s finance system? How can a company detect which invoices might be fictitious, based on historical data? Also, how can a company conduct these analyses in the most time and cost efficient way possible?
Deloitte’s Analytics for Forensic Audit propositions seek to answer all of these questions by harnessing the power of data analytics. Whereas a finance director or auditor might have to manually scan a finance system to detect duplicate suppliers and invoices, our propositions present automated and thorough solutions for aiding and informing the ledger and sub-ledger audit process.
As organisations’ data continues to expand exponentially on a year-over-year basis, manual analysis techniques will become less and less viable options for auditing finance systems and looking for specific irregularities—like misspelled supplier names, near-duplicate invoices or sophisticated fraud techniques—can be impossible. Our propositions were created to address these exact issues and do so in a way that can lead to real organisational savings. Whether a finance system has 3 thousand items or 3 billion, Deloitte Analytics can help you see your data in a completely new light.