FTSE 250 construction company<br />Duplicate Payments Analysis - ACL Data Analytics<br />February 2011<br />
About DataConsulting<br />Business Overview<br />Scope<br />Process<br />Results<br />Agenda<br />
About DataConsulting<br />DataConsulting set up in 2007 to provide data analysis services to audit teams and finance depar...
Business Overview<br />The client - operating a Shared Service Centre to process over £1.5bn in invoices per year - suspec...
Scope<br />Develop, document and run automated scripts that:<br />Import CSV extracts from COINS and Lamex systems<br />Id...
Process<br />
Results<br />This solution was successfully implemented and has now become an effective monitoring control in the client's...
Questions?<br />
Alex Psarras<br />alex.psarras@dataconsulting.co.uk<br />07585 967 438<br />DataConsulting Ltd<br />5 Appleton Court<br />...
Upcoming SlideShare
Loading in …5
×

Duplicate Payments Analysis - FTSE250 construction company

440 views

Published on

The client - operating a Shared Service Centre to process over £1.5bn in invoices per year - suspected that invoices were being paid twice, or even more. We were engaged to develop a duplicate payments test for inclusion in the business as usual payments process. The client required the automated tool to be developed in ACL

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
440
On SlideShare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
6
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Duplicate Payments Analysis - FTSE250 construction company

  1. 1. FTSE 250 construction company<br />Duplicate Payments Analysis - ACL Data Analytics<br />February 2011<br />
  2. 2. About DataConsulting<br />Business Overview<br />Scope<br />Process<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 - operating a Shared Service Centre to process over £1.5bn in invoices per year - suspected that invoices were being paid twice, or even more<br />We were engaged to develop a duplicate payments test for inclusion in the business as usual payments process<br />The client required the automated tool to be developed in ACL<br />Data extracted from client’s COINS & Lamex systems<br />Hand-over ACL scripts for future processes<br />
  5. 5. Scope<br />Develop, document and run automated scripts that:<br />Import CSV extracts from COINS and Lamex systems<br />Identify potential duplicate payments based on a weighted scoring model<br />Output subcontractors that are also vendors<br />Manage handover knowledge and CAATs<br />
  6. 6. Process<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 />Several million transactions were analysed – 10 years worth of invoices<br />Possible duplicate payments discovered with a potential recovery of £7m<br />So far, an analysis of 3% of the results confirmed that £30k were duplicates<br />Used to prevent future 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 />

×