Continuous Controls Monitoring Solutions
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CaseWare™ Monitor is a sophisticated risk and controls monitoring solution that allows business, risk and control professionals as well as auditors to quickly and confidently monitor any automated system. Our solution manages risks and controls across the enterprise by continuously monitoring business activities. This ensures that executives and other key decision makers are given the opportunity to maximize every possible advantage in monitoring risk and making better business decisions to boost profitability.CaseWare™ Monitor can be applied to any business process, regardless of the underlying system or platform, across the entire organization.
CaseWare™ Monitor Framework Concept
Enterprise-wide Controls Portal
The use of effective internal controls systems, when implemented properly, is good business, as it provides assurance that financial information is correct, businesses are operating efficiently and assets are safeguarded. Addressing breakdowns in internal controls in a timely and efficient manner allows businesses to improve their profitability.
Being able to determine the state of internal controls across the enterprise through a single portal is one key component of Monitor's value proposition. Controls at remote locations can be examined centrally, including actions being taken to mitigate risks. The solution is designed to meet the requirements of any business ranging from small businesses to Fortune 500 companies with diverse global operations across multiple languages.
CaseWare™ Monitor provides a single controls portal that enables all stakeholders within any organization to independently monitor controls across multiple businesses and systems. By providing a collaborative framework, our technologies detect breakdowns in internal controls and allow users to solve the underlying problems and prevent negative impacts on the company.
Open Design, Universal Application
Consider a group of companies with global operations in telecommunications, manufacturing, banking and insurance. These are diverse businesses with their own controls and compliance needs, requiring a monitoring framework that is universally applicable. CaseWare™ Monitor is perfectly suited to access and monitor data from telecom switches, ERPs, custom-made applications, and core banking and insurance applications. Regardless of the databases being used, the solution can monitor all these business processes and effectively improve compliance and controls.
While CaseWare™ Monitor has pre-built solutions for many business processes and industries, its open design allows customers to build customized controls using established scripting tools such as IDEA®, ACL™, Arbutus and SQL Scripts. With these scripting tools and the framework approach, customers can monitor any control in any business process. This approach allows the customer to focus on scripting the basic logic and having the framework handle everything else. For example, to monitor the creation of overtime claims in excess of the number of work hours in the period, the script writer can apply a simple logic of OvertimeClaim > HoursInPeriod.
The remaining stages of the process are handled by CaseWare™ Monitor including:
- when and how often the data is to be monitored
- who is to be notified
- how they are to be notified (e-mail, SMS, dashboards, etc.)
- the risk level associated with the control exception
- who is responsible for resolving the issue and the turnaround time
- who the exception is to be escalated to, if unresolved
CaseWare™ Monitor solutions are built around a continuous controls monitoring framework with predefined business rules. With a comprehensive suite of tests and the ability to monitor business processes regardless of the underlying data sources, platforms, or locations, CaseWare™ Monitor offers an effective solution to enable Continuous Controls Monitoring throughout the entire organization.
The Solutions offer:
- standardized rules for specific business processes
- monitoring of ERPs such as Oracle™ and SAP™
- faster and more efficient implementations
CLICK A SOLUTION BELOW THAT FITS YOUR NEEDS
- Anti-Money Laundering
- Health Insurance Fraud
- Loan Portfolio
- Order to Cash
- Purchase to Payment
- Payroll
- Revenue Assurance for Utilities
- Segregation of Duties
- Taxation
- Continuous Auditing
- Windows Security Logs
CaseWare™ Monitor examines transactions and data within business processes to detect exceptions based on business rules and parameters. Once detected, CaseWare™ Monitor can alert the relevant users using a variety of contact options such as e-mails and text messaging. All alerts and reports are managed within a comprehensive workflow solution. The workflow is distributed across the enterprise to engage all stakeholders in achieving internal control and compliance objectives.
Issue Management Workflow
Detecting compliance and control breaches is only part of the core objective. The resolution of issues and the associated improvements in the control environment are critical to realizing the value of continuous monitoring. Anyone attempting to monitor business process controls manually can attest to the challenges.
CaseWare™ Monitor boasts impressive functionality to manage issues.
This includes:
- ability to automate the execution of tests via schedules
- selecting users/groups to be alerted for information purposes only
- setting up an escalation process
- controlling whether or not the assigned user can close the issue
- performing all of the above based on conditions
Once results are assigned, users can:
- review/close
- reassign
- comment
- export reports to portable formats
- view history of activities
Exemptions
CaseWare™ Monitor allows for the exemption of specific records as a way of reducing false-positives. Applications that detect issues and allocate work must provide for the reduction of false-positives or the user may become overburdened. Specific records in a report can be exempted or a condition can be applied to exempt them. For example, inactive employees in a report on employees with missing demographics could be exempted by using the condition "Employee Status = INACTIVE".
Exemptions are reversible and can be viewed at any time. This functionality can also be used to extend the business rules used to generate reports without amending scripts.
Review Process
Issues can be reviewed by the user to whom they were assigned. He or she has the option to make comments on actions taken and may attach screenshots, spreadsheets, and other documents, to evidence work done.
Reassigning the issue to another user allows the Manager or Supervisor to manually allocate work to others. All issues reassigned are kept on the assigner's dashboard until they are closed by the assignee.
Symptai provides consulting services for the installation, implementation and customization of all CaseWare™ Monitor and associated technologies.
General service offerings include:
- identification of goals, requirements and conditions for success
- business process assessment
- development of risk, controls and benchmarks matrix
- installation and configuration
- implementation
- report configuration
- customization
- optimization
- troubleshooting
- training
To learn more or request consulting services, please contact us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
