Introducing, Inspirations -...
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ACL Bootcamp Series Introducing, Inspirations
Transcript of Introducing, Inspirations -...
Who’s talking?
I’m from Vancouver, BC
ACL 8 years; 6 years as a consultant
Internal audit, compliance, financial operations groups
2008 Siemens AG: Largest Anti-Bribery corruption monitoring project ever
Current role is Product Manager of Content @ ACL
What are we going to talk
about?
Introduce Inspirations
Top analytics discussion
A call to action
Quick look at Analytics 11.4
The Sharing Economy.
“Social Networks” used for productive things.
Think Uber, AirBnB, or Shareshed.
How could the risk professions be transformed by this concept?
How would that change your day-to-day?
Imagine
If process and enterprise risks, expected controls, test procedures and analytics, regulatory changes, were all centralized and social?
No auditor/compliance analyst/risk manager enters his or her profession as an expert
How many templates have you used/shared in your time?
Consider this: Kayaks are your
content.
Introducing, Inspirations. The first step towards a sharing-driven site for risk professionals.
What is it… today?
Over 250 Analytic Ideas and growing
Social. Like, share, and comment
Integrated with ScriptHub (where available)
How is it different from
ScriptHub?
Sometimes, it’s the just the idea that counts
It’ll be for more than just “analytics”
May eventually become one content store
More on the
button
Goes into your list of scripts that you have implemented
Lets us know that you have implemented the script
> We may reach out
Adds to your inspiration score
What about
Helps us with roadmap for ScriptHub
Lets us know you have a need for this script
> We may reach out
We’ll let you know when a script is available
Tell me more about the
Leaderboard.
Collect internet points for contributing to the community’s knowledge
Leaderboard lets you see current standings
How does the scoring work?
100 points for each approved inspiration submission
10 points for each comment
5 points for each inspiration that you have implemented
1 point for each inspiration that you have added to your favorites
What’s next for Inspirations?
Source system data tables/field mappings
Regulatory content
Risks and expected controls
Deeper integration with ScriptHub
Top 5 Analytics
Rank Analytic
1 Employee-vendor match
2 Cash transactions under 10k
3 Expense profiling
4 Keyword test
5 Suspicious weekend or holiday JE
Employee-vendor match
Description and Considerations
By Name, Address, Phone #, E-mail, SSN/tax ID, Bank account #
Exclude vendors already flagged as employees
Example
Fictitious corporation is set up to channel funds to an existing employee - The only identifying information was that the bank account #s matched with the employee’s payroll information and the vendor master file.
Cash transactions under 10k
Description and Considerations
Identify cash transactions just below the $10,000 CTR reporting threshold. (1) Identify all cash transactions. (2) Identify any transactions a specified % threshold below the $10,000 CTR reporting threshold. (3) Summarize results by customer name and/or tax ID.
* Specify the testing period. * Specify % threshold to measure (e.g. 10%). * Canadian entities must report to FINTRAC for cash transactions of $10,000 or more. * US entities must report to IRS/FINCEN via Form 8300 for cash transactions of $10,000 or more.
Cash transactions under 10k
Example
To avoid reporting cash payments to the IRS/FINCEN, Hank decides to deposit cash in $9,000 amounts instead to defeat the $10,000 reporting limit.
Expense profiling
The HR department spending a significant amount on travel for prospective candidates
Sales department travelling business class for short domestic trips
Expense profiling
Description and Considerations
Identify average expense transaction sizes by department/cost center by highest total and highest average spend:
• Summarize expenses by cost center and expense category, subtotal on expense amount. Examine results to review the cost centers with the highest total spend in each category.
• Define a computed field for the average expense amount. Examine the result of the averages to review the cost centers with the highest average spend in each category.
• Specify a time period to investigate, and if time is available consider comparing differences in fiscal quarters.
Keyword Test Example
Alexandria has been using her T&E card to purchase gifts for her clients as bribes, processing the expenses as "miscellaneous" in hopes that this blanket term will cover the unauthorized transactions.
Keyword Test
Description and Considerations
(1) Identify suspicious keyword matches to find potentially unauthorized payments such as bribes and gifts.
(2) Identify employees who accumulate more than a certain threshold of expenses matching the keywords within a certain time period.
• Suspicious keywords to search include: miscellaneous, other, gift, flowers, facilitation, cash, liquor, upgrade, babysitting, health club, traffic violations, kennel, child care, appliance purchase, computer purchase, fitness, massage, charity, donation, etc.
• Specify a time period to investigate.
Suspicious weekend or holiday JE
Description and Considerations
Identify JEs created or posted on suspicious dates such as weekends or holidays.
• List of all dates can be defined using the Global Banking Calendar data (need to specify region to use).
• May be helpful to explore modifications to entries on suspicious dates as well.
• If data is available, consider referencing timestamps to search for unusual times (after office hours, etc.).
Example
In an effort to not be seen by coworkers, Grace comes in to the office on a weekend to post a journal entry to cover an illegitimate payment.
Win an ACL T-Shirt.
Top 10 individuals on the leaderboard December 31, 2015 will receive an ACL T-Shirt!
Fastest way to the top is to submit inspirations
