Organizations are under increased pressure to cut costs and improve efficiencies. Internal audit is no different – audit committees and management increasingly expect their internal audit teams to do more with even lesser resources. CAM for SAP is an effective tool to enhance audit coverage (scope as well as frequency) without adding additional manpower. CAM also enables organizations to audit and monitor their key risk areas more frequently without too much of additional effort. This is possible due to use of technologies, which considerably reduces the cost of automating recurring audit procedures. CAM can also act as an early warning system to detect control failure earlier than under traditional audit approaches.
Both transaction processing and controls can be audited/ monitored using CAM. Examples of transaction processing auditing/ monitoring include the following:
Billing documents blocked for accounting
Changed bank account numbers in vendor master
Open purchase orders
Invoice numbers allocated twice, etc.
Examples of controls auditing/ monitoring include the following:
GL accounts where manual postings are allowed
One time vendors
Material masters with unlimited over delivery tolerance
Customers without credit limit, etc.
Unlike most of the commercially available tools, which are complex, require lots of resources to implement/ manage/ use and are very expensive, CAM for SAP is an easy to use, easy to manage and no security hassles tool.
CAM is a useful tool for SAP auditors who want to focus on auditing and don’t want to be distracted by technical details of a complex commercial tool. CAM is intuitive to use tool and does not require any specialized training to use. It also does not require a separate hardware and can be installed on any PC or laptop.
It comes with a ready-to-use configuration and auditors can start using it from day one. At the same time, the tool is highly customizable and can be easily and quickly customized, when required. Further, it works in an offline mode (i.e., without directly connecting to your SAP system).
Most important, CAM is very cost effective and caters to small and medium size enterprises using SAP. The tool consists of two main areas:
Import Table(s) - ‘Import Table(s)’ function allows users to upload various tables required for audit/ monitoring. These tables can be downloaded from SAP using transaction code SE16. No external formatting is required to use these tables in CAM.
Reports - ‘Reports’ function allows users to view various reports highlighting potential exceptions in transaction processing and controls. The reports are arranged process-wise and can be downloaded for further analysis and follow up.
Specifications:
OS: Windows XP Service Pack 2 and above
Software required: Microsoft Access 2007 Runtime or Microsoft Access 2007 (Microsoft Access 2007 Runtimes can be downloaded directly from Microsoft website http://r.office.microsoft.com/r/rlidAccessRuntime
There are five modules within ‘Reports’ tab. These are as follows:
Master Data
Purchasing
Sales
Financial Accounting (FI)
Others
The following four modules will be added in the next version of the tool:
Inventory
Human Resources - Payroll (HR-PY)
Authorization
Configuration
Screenshots:
Home Screen
Import Table(s) Screen
Reports Screen
Help Screen
Sample Reports Screen 1
Sample Reports Screen 2
Benefits:
In addition to ever-increasing technology and regulatory requirements, organizations are looking to remove excess costs from operations and improve efficiency, improve controls and processes, and prevent and detect fraud and misconduct. CAM offers following benefits to support these requirements:
Regular insight into status of transaction processing and controls
Early detection and monitoring to expedite response
Test a broader range of transactions and controls
Improved audit efficiency and effectiveness
Better internal controls.
Demo/ Purchase:
If you are interested in demo of CAM for SAP or need a quotation, please contact us.
Organizations are under increased pressure to cut costs and improve efficiencies. Internal audit is no different – audit committees and management increasingly expect their internal audit teams to do more with even lesser resources. CAM for SAP is an effective tool to enhance audit coverage (scope as well as frequency) without adding additional manpower. CAM also enables organizations to audit and monitor their key risk areas more frequently without too much of additional effort. This is possible due to use of technologies, which considerably reduces the cost of automating recurring audit procedures. CAM can also act as an early warning system to detect control failure earlier than under traditional audit approaches.
