Enhanced Internal Controls for Auditors
Focusing on Policy and Compliance
Internal auditors have an incredibly important, if not always the most outwardly visible, job. They are primarily focused on policy and compliance within their organization as they communicate with stakeholders, manage risk, and detect fraud. It’s tough to handle all that data in-house, especially at large organizations that, for example, administer a lot of credit cards. Card Integrity’s expense monitoring service helps strengthen internal controls so that auditors can complete their tasks with confidence and apply the appropriate resources and time to the areas of their organization’s spend that need it.
Card Integrity helps with the following complexities and difficulties of the auditing process:
Limited Resources
This entails cost and budget, as well as organizational or personnel resource limitations. It comes down to the fact that large organizations may have trouble keeping up with the sheer volume of data. It’s been cited as a common issue when talking to professionals across industries, so if this describes you, you’re not alone.
Data Security
Keeping data private and safe is of utmost concern to organizations with strong internal auditing processes. As cybercrime remains a significant threat, a strong audit trail is one line of defense against outside attacks.
The Human Element
Even with the advent of AI and machine learning, there still exists significant manual processes in all assets of accounting, procurement, and financial services. Where there exist manual processes, there exists potential for incomplete or inaccurate audit trails.
Strengthen internal controls with expense monitoring solutions for auditors.
Manage Transactions with DataWISE
The Card Integrity solution to monitoring expenses takes a service approach to managing transactions. With access to reports from an in-house analytics tool and a dedicated team of financial professionals, detecting trends, red flags, or anomalies in expense transactions has never been easier.
Validate Receipts with ReceiptWISE
Documentation related to expenses and receipts are essential evidence to controlling costs. Receipts may be core to validating expenses, but that doesn’t mean checking them is a simple task. Find out how Card Integrity’s receipt validation service can make managing receipts a simpler process.
AP Duplicate Detection with InvoiceWISE
Finding fraud and misuse of expenses is a trickier process when it occurs across payment methods. From invoices to credit cards or other types of transactions, Accounts Payable will appreciate having the Invoice Review service find duplicate spending across payment methods that can easily go unnoticed.
Additional Resources for Your Organization
eGuides and White Papers
Live Webinars and Recordings
