Recently, CFO.com published the findings of a Deloitte Financial Advisory Services poll indicating that 27% of executives reported a reduction in internal audit and compliance staff over the last 18 months. The article also quotes Kerry Francis, chairman of Deloitte Financial Advisory Services, as saying : "We know that in a recessionary time, fraud risk and corruption risk rise, so there's a tension there."
If your organization is facing some of these challenges, you should know that
Both the activation of the Audit Trails module and the reports that it generates can be targeted and customized so that the right people are seeing the right reports for the right areas of the business. Additionally, by storing audit trails in a database that is separate from your production environment and operating as a closed system environment, the Audit Trails module supports regulatory requirements, compliance procedures and strong controls.
The Electronic Signatures module enables preventative authorization controls to be activated at any place in the system where data is changed, presenting your people with a window that requires authorized user identity information. You can strategically activate Electronic Signatures only for those areas required by your business and enable authorized signers to provide approval either on-site or remotely through a system notification and response.
To learn more about how Microsoft Dynamics GP can help your organization reduce your fraud risk and improve audit compliance even in challenging economic times, download this whitepaper:
Want to talk to someone about reducing your fraud risk and securing your financial data? Request an