Oversight Systems Sponsor of Rutgers' 14th World Continuous Auditing and Reporting Symposium

Business Wire, Nov 7, 2007

CEO Patrick Taylor Speaks on the Latest Developments in Continuous Monitoring/Auditing Software

ATLANTA -- Oversight Systems, the leading provider of automated continuous monitoring solutions, was a sponsor of Rutgers Business School's 14th World Continuous Auditing and Reporting Symposium over the weekend. The event drew industry and academic leaders in the field, and featured panels, presentations and research sessions centered around the symposium theme, "Where are we today?" Oversight Systems CEO Patrick Taylor participated in two panel sessions, discussing continuous auditing/monitoring software and software support.

"Continuous auditing has emerged as a best practice among audit professionals, especially when it comes to detecting and preventing fraud," Patrick said. "Citing the inherent limitations of ICFR when it comes to preventing and detecting improper management override of controls, a recent SEC directive instructs companies to be prepared to mitigate these limitations by designing into the process safeguards to reduce this risk. This requires that auditors have a solid understanding of emerging technologies to automate the process, and these types of events and discussions help these professionals respond effectively to new directives and regulatory guidance."

In the panel discussions, Taylor presented the latest information on Oversight Systems' leading continuous transaction monitoring technology, which automates the testing and analysis of auditors and fraud examiners against every transaction across multiple financial systems to identify and prevent errors, control exceptions and combat fraud.

Benefits of Real-Time Transaction Monitoring

* Analyze transactions across multiple financial systems and various technology platforms

* Ensure financial process accuracy by inspecting for quality at every transaction

* Eliminate the need for recovery auditors with real-time detection of payment errors

* Address fraudulent financial reporting risk by inspecting General Ledger postings for unusual and suspicious entries

About Oversight Systems, Inc.

Oversight Systems takes continuous controls monitoring to the next level, with real-time transaction integrity inspection for identifying fraud, misuse and errors. Oversight's software provides a platform for continuous monitoring with powerful analytics that excel at finding problems, then raises the bar with an investigator's workbench for cost-effectively fixing the problem, and workflow-enabled audit trail and journaling for proving problem resolution and compliance. By inspecting each step of individual transactions across all financial systems, Oversight identifies all errors and fraud, drives defects out of the process, and sustains Sarbanes-Oxley compliance. For more information, visit www.oversightsystems.com.