A critical strategy in reducing NPAs, ASM audits involve extensive analysis of a company’s transactions, operations, and financial health. Auditors spend weeks going through ledgers, bank statements, project reports and other information to prepare their quarterly report. In addition, the quantity of data makes it challenging to identify risk factors and potential fraud.
Agencies for Specialized Monitoring (ASM)
iAcuity automatically analyzes bank statements and ledgers, identifies trends, areas of concern and potential fraud. ASM auditors can focus their attention on key problem areas rather than combing through troves of data. With iAcuity auditors save time while reducing the risk of human error.
Uncover suspicious behaviors worth investigating
Detect discrepancies in books of accounts
Investigate wrongful transactions by directors
Benefits
Upload data in any digitally readable format. No more data transformation, normalization, and cleansing efforts. Fund Trail automatically validates data and starts analysis.
Analyze billions of transactions across multiple accounts, bank statements and ledgers. Fund Trail is the perfect tool for complex analysis involving millions of transactions.
Fund Trail helps follow the money trail. Investigators can easily see unreported related party transactions, diversion of funds or suspicious transactions.
Detect accounting fraud and missing ledger entries. Fund Trail provides a detailed transaction by transaction comparison and reconciliation between ledgers and bank statements.
Track changes in revenue, expenses, inventory, and other parameters of the business over the investigation period.
Data privacy is critical especially when entities are under investigation. iAcuity uses advanced encryption techniques to ensure data is only accessible to authorized personnel. Furthermore, Fund Trail monitors user activity and data access logs to provide a security audit for each case.
Fund Trail can be deployed in the cloud or on-premise providing enterprise with flexibility of deployment.