autorek

The burden is increasing on internal auditors as economic risk is rising and at the same time, experienced reconcilers and controllers are becoming scarcer.

As a result auditors are pressured to implement tighter controls on key areas, improve the transparency of audit trails and the quality and speed of management Information (MI) to detect errors, fraud and losses.

AutoRek reduces reconciliation risk and simultaneously reduces costs of preparation and audit by up to 90%. Our rapid deployment approach deals with urgent challenges and minimises implementation cost as well as the benefits that will accrue in preparing, authorising, reviewing and correcting exceptions in reconciliations. AutoRek’s complete audit history capability means you can:

• Provide a full audit trail for all reconciliation transactions – user and time stamped
• Reduce external audit times and associated fees
• Prove compliance with all internal and external requirements including Basel II, Sarbanes-Oxley and FSA regulations
• Improve levels of communication especially with finance teams
• Perform remote checking of reconciliation compliance
• Preset audit criteria and have alerts when any of these are breached
• Produce a risk score for each or a group of reconciliations based on KPIs such as oldest or largest unmatched items

Find Out More

To find out more please Contact Us with your enquiry. Alternatively, visit our Resource Centre to download the following related Solution Brief:

• Lower Internal Audit Effort and Cost