Controls Monitoring in the Public Sector
Automate key internal controls with a single platform
Approva’s Approach
The Approva Controls Intelligence Suite helps agencies achieve compliance and prevent fraud by providing a single, independent platform to automate key business controls. The platform integrates with all major business systems commonly used in agencies including PeopleSoft, SAP, Oracle, CGI AMS/Advantage and a variety of other systems (i.e. Tax and Revenue, Medicaid, Child Support, Temporary Assistance for Needy Families (TANF) and others. Approva’s out-of-the-box controls are based on industry best practices for segregation of duties, transaction monitoring, master data and IT system configuration.
Key Benefits
Holistic Visibility to Key Systems and Transactions
Approva products run on a single platform, enabling agencies to take a holistic approach to internal controls. Agencies can create, manage and monitor all internal controls through one application. This provides better visibility to key business processes like user access, grants management, purchase card transactions and travel & entertainment expenses and mitigates the potential for fraud or financial misstatements.
Reduce the Risk of a Data Breach by Safeguarding Sensitive Information
Knowing where sensitive fields are exposed across your systems or databases enables you to be proactive and reduce the risk of a costly breach in your organization. Approva enables agencies to maintain the integrity and security of IT systems and processes by continuously monitoring sensitive information, transactions and user access violations. With Approva’s out-of-the-box controls, agencies can ensure the security of sensitive public data (i.e. social security numbers, vendor or employee bank account numbers, credit card numbers, or compensation).
One Platform to Manage Key Controls Across the Organization
The Approva Controls Intelligence Suite enables agencies to automate their key financial and IT controls, helping them to prevent fraud, improve efficiency and reduce the cost of compliance. Approva’ products ship with a comprehensive library of best-practice controls which have been validated by the “Big 4” audit firms. Approva’s rules are simple to configure by end users and provide a comprehensive selection of analytical and reporting tools. These controls address the three main types of internal controls which are critical for agencies: operations and financial reporting; access to applications; and configuration of IT systems and processes. These controls cover areas such as transaction monitoring, fraud detection, segregation of duties and IT change management.
Approva’s Controls Intelligence Suite helps agencies achieve compliance with legislation such as A-133 Single Audit, the Statement on Auditing Standards (SAS) 112, and others, by enabling them to reduce risk and manage internal controls more efficiently and cost-effectively.