PROCESSIT Search and Auditor

Introduction

Purpose

Getting familiar with PROCESSIT Search for locating documents and scanned images, and PROCESSIT Auditor for reviewing invoice audit trails.

Audience

Standard and super users requiring access to search, and accounting administrators who need to follow and report on invoice audit trails.

Objective

Learn to use PROCESSIT Search and PROCESSIT Auditor

Table of Contents

  1. PROCESSIT Search
  2. PROCESSIT Auditor
  3. Standard Basic Edition

PROCESSIT Search

  • Search & find documents via Search Criteria.
  • Sort & Filter search results.
  • Exportable & printable views available.

Search: Document Details

Accessing Document details

  1. Perform a search.
  2. Double-click a search result line to view document details.
  3. The scanned document images is available.

Auditor Fraud Detection Reports

Fraud Detection Reports improve investigation of possible fraud patterns. The reports include graphs to aid you in interpreting the results.

  1. Duplicate invoice payments
  2. Possible matching suppliers
  3. Above average payments made to a given supplier
  4. Invoice amount fraud pattern analysis applying Benford's Law
  5. Rounded invoice amount frequency analysis

Duplicate Invoice Payment Detection

Identification of potential duplicate invoice payments in accordance to a defined search and match criteria, such as:

  • Duplicate vendor name, invoice number, and invoice amount.
  • Duplicate vendor name, invoice date, and invoice amount.
  • Duplicate vendor name, invoice number, and different invoice amount.
  • Duplicate invoice date, invoice number, and invoice amount.
  • Duplicate PO number, invoice amount, and invoice number, and different vendor to catch incorrect payments to different vendors for the same PO reference.
  • Duplicate invoice amount, vendor name, and different payment date to catch resubmission of invoices that have already been paid

Rounded Amount Frequency Check

Vendor ranking of invoices with rounded amounts; percentage calculated by the number of vendor invoices submitted with rounded amounts, divided by the total number of invoices for that vendor.

Vendor Data Audit Checks

Duplicate vendor setup comparison analysis, which uses fuzzy logic to detect and display similar name and address information, with different associated vendor numbers.

Employee address vs. Vendor address cross-check to ensure that employee address information is not the same nor similar to that of a vendor address.

Benford's Law

Application of Benford's Law to detect potential fraud patterns

This mathematical law states that in a list of numbers within a data set, the leading digit is distributed in a specific, non-uniform way.

This means is that in a data set of numbers from 1 through 9, the odds of the number 1 appearing are different than the odds of the number 9 appearing.

The probability of the number 1 appearing is approx. 30 percent, decreasing as the digits are higher until reaching 9, which appears less than five percent of the time.

Running a frequency check on invoice amounts, and comparing them to Benford's expected frequency, vendor invoice amounts with unusual patterns that signal fraudulent, fabricated amounts, can be detected.

Above average payments

Above average payments made to a given supplier.

Exercise: Invoice Search and Auditor Tasks

Exercise: Search

  1. Specific Invoice number
  2. Specific Purchase number
  3. Supplier and Current user
  4. Only my own invoices
  5. Explore search result and view the invoice
  6. Filter on search result
  7. Export search result to excel

Exercise: Auditor

  1. View the Invoice main flow for you invoices and explore
  2. Export the Invoice main flow to excel
  3. View the Installation history
  4. View and explorer the Invoice RecInvoice Reconciliation

THANK YOU!