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Incorporating Forensic Tests In Compliance Programs

Top 10 Considerations:

1.Use forensic tests for multiple purposes-from identifying deficiencies to identifying unexpected trends.

2.Incorporate more, rather than fewer, perspectives.

3.Focus on all aspects of operations, including third-party service providers.

4.Take a fresh look at existing capabilities and skills.

5.Evaluate current IT systems. Can they support forensic testing?

6.Coordinate with other compliance testing programs.

7.Establish an appropriate review structure.

8.Consider forensic test results in connection with other embedded reporting responsibilities.

9.Use forensic test results to enhance internal controls.

10.Communicate test plans and results to all relevant parties.

Source: PricewaterhouseCoopers

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