Duplicate Payments Analysis - FTSE100 construction company

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The client’s accounts payable function is managed via their Finance application, DEMA. Due to data quality issues a risk of duplicate payments was identified. We were commissioned to develop ACL scripts to help mitigate this risk.

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Duplicate Payments Analysis - FTSE100 construction company

  1. 1. FTSE 100 construction company<br />Duplicate Payments Analysis - ACL Data Analytics<br />March 2011<br />
  2. 2. About DataConsulting<br />Business Overview<br />Scope<br />Output<br />Results<br />Agenda<br />
  3. 3. About DataConsulting<br />DataConsulting set up in 2007 to provide data analysis services to audit teams and finance departments<br />Partners are ex-Deloitte and PwC; employ accountants, auditors and developers<br />Deep technical expertise in CAATs, continuous auditing, business modelling, spreadsheet assurance and tactical solutions<br />Wide client base<br />
  4. 4. Business Overview<br />The client’s accounts payable function is managed via their Finance application, DEMA. Due to data quality issues a risk of duplicate payments was identified<br />We were commissioned to develop ACL scripts to help mitigate this risk<br />Scripts will be executed twice before payment runs<br />Potential matches will be reviewed by back office staff prior to payment being released<br />
  5. 5. Scope<br />Develop automated scripts that:<br />Import and merge Purchase and Subcontract Ledgers extracts<br />Apply a ”fuzzy logic” match on the invoice date, reference number and amount<br />Build in intelligence to filter false positives and to provide additional information into each match<br />Provide evidence of testing including test data and test scripts<br />Manage handover knowledge and CAATs<br />
  6. 6. Output<br />
  7. 7. Results<br />This solution was successfully implemented and has now become an effective monitoring control in the client's payment process<br />Scripts executed twice a day preventing duplicate payments<br />
  8. 8. Questions?<br />
  9. 9. Alex Psarras<br />alex.psarras@dataconsulting.co.uk<br />07585 967 438<br />DataConsulting Ltd<br />5 Appleton Court<br />Calder Park<br />Wakefield WF2 7AR<br />Tel 01924 254 101<br />www.dataconsulting.co.uk<br />Copyright DataConsulting Ltd 2011. All rights reserved.<br />

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