A FTSE100 chemicals company has commissioned us to perform a review of their accounts payable, accounts receivable and general ledger data. Using data extracts provided by the client of their SAP and JD Edwards systems we were able to analyse the data. The ACL scripts created for the analysis where handed over to the client so that they could perform the same tests when required.
A number of scripts were created to review the Accounts Payable data. These scripts identified potential fraud, outputted any risks within the data and looked for any control weaknesses.
- Duplicate payments identification by invoice number, amount and date
- Analysis of split purchase orders and blanket purchase orders
- Segregation of duties analysis
- Output retrospective purchase orders
- Identification of employees approving invoice amounts exceeding their approval limit
The Accounts Receivable analysis ensured that the data was both valid and accurate and that all transactions were properly authorised.
- Identification of all credit notes raised within the financial year by month
- Age of debt compared with the credit terms and limits
- Analysis of sales by month, customer, product and salesperson
- Validation of customer data
- Identification of unauthorised changes to prices or credit limits
The ACL scripts created for the General Ledger analysis identified unusual transactions and also ensured the completeness and accuracy of the data.
- Reperformance of the trial balance by analysing the GL account movement
- Identification of authorisers with significant postings
- Analysis of accounts with a balance of zero
- Identification of one sided journals
- Comparison of document date to the entry date
Questions to consider:
- Do you suspect an employee of abusing the expenses system?
- Do you lack confidence in your vendor master data?
- Do you suspect payments are being made twice?
If the answers are yes, DataConsulting can help – contact us for an informal discussion or complete our enquiry form.