Data Assurance and Revenue Assurance

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Data integrity is a key concern for businesses owners as business managers, controllers and owners make their decisions based on the data held within the information systems.

As systems become more complex and fundamental to the operation and direction of the business, the importance of the underlying data and the information it generates has never been greater. Organizations needs to feel confident that the information can be relied upon to make decisions, highlight opportunities and identify risks.

Automation of internal audit procedures

Issues you’re facing

  • The staffing of internal audit or controlling department is not enough to complete audit plan;
  • A corporate Data Warehouse doesn’t include all necessary information to perform analytic procedures and it will not sort out a big pile of data for you;
  • Your business has to rely upon reports generated by systems that are not controlled by the central IT function (e.g. spreadsheets or user configured reports);
  • Developing of new reports in ERP systems takes too much time;
  • Internal Audit deals with a large amount of complex data which is difficult to analyze by using standard analytical tools (e.g. MS Excel).

Our solutions

We can analyse the current situation and prepare an analytical model by using data analysis software. We can help in automation of routine audit procedures;

Using our Data Assurance tools we can help you to develop automated means to process business data fast and smart. You will quickly analyse your data in many ways and examine details of noted exceptions. 

Data discovery and mining

Issues you’re facing

  • Some financial ratios look unusual or suspicious;
  • The company is not sure of the correctness of algorithms in ERP systems (e.g. significant changes of accounting policy);
  • The quality of information generated by IT systems is not considered reliable, reflecting underlying difficulties with managing data;
  • The company has no available resources to investigate the reason;
  • Your business believes that it has the data to improve decision making but due to the volume, complexity or spread across systemsit isn't getting the maximum value from it.

Our solutions

Using Data Assurance tools we can:

  • Identify all data sources and algorithms that are the basis for the calculation of unusual financial ratios. This will help to identify the problem or to prove the correctness of this calculation;
  • Re-perform calculations in question using the same data and methodology that is used in the ERP system. This will help to identify the problem or to prove the correctness of this calculation.

Data collection services

Issues you’re facing

The company has challenges collecting data for consolidation purposes (financial reporting). Common issues are:

  • Intercompany transactions for elimination;
  • Collection of additional information for transformation purposes.

Our solutions

We can develop a web-based internal portal for data collection. All collected data will be automatically checked for consistency and validity.

Revenue assurance

Issues you’re facing

  • You might lose revenue because of technology issues, computation errors or fraud with your goods and services;
  • Your customers are not satisfied by the level or quality of services;
  • You have a high amount of bad debt;
  • You worry that costs of services is too high;
  • You’ve changed main technology or presented completely new service or product.

Our solutions

We can give you objective assurance about billing systems;

We can investigate the complete flow of your revenue: from goods orders to payment of services, from tech-devices to financial reports;

We can identify leaks of revenue and proved recommendations to optimize your system of internal controls to prevent losses of your income.

Data migration Assurance

Issues you’re facing

The company has changed information systems or made a significant upgrade. Common issues are:

  • The data from previous systems was not completely/accurately transferred to the new one;
  • Mistakes in the mapping of data between the systems.

Our solutions

We can check data for completeness and accuracy between different systems;

We can assist in mapping settings or checking the existing system for validity.

Case

An airline company had a significant number of software applications for its operational activities and accounting:

  • warehouse programs;
  • revenues from air services accounting programs;
  • financial and accounting software for general ledger and management reporting.

To be sure that operations are properly controlled in such a complex, heterogeneous environment, fraudulent transactions are prevented a detailed analysis of transactions carried out in the different systems is required. On this engagement PwC developed a system of on-line monitoring for fraudulent operations based on a combined analysis of heterogeneous data from different systems.

Value

The value received by the client included:

  • An increase in the level of detail in reports, population coverage and frequency of control over the risk of fraud;
  • Identification of inefficient business processes that were previously difficult to analyze because of the poor relationship between the data obtained from various information systems;
  • Reduced risk of fraudulent transactions that could happen in the systems.
 
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