"This release has significance in the continuous auditing market beyond the impact of functional enhancements to a single vendor's software," said Oversight CEO Patrick Taylor. "Oversight's Workbench uniquely delivers on the vision of continuous auditing, providing the tools and technology that companies need to fix the problems identified by transaction analytics. Other products stop at the analytics stage, surfacing errors, but offering no practical way to remedy them."

Oversight's Workbench supports the efficient evaluation and remediation of exceptions detected by the Collaborative Reasoning Engine (CoRE). Workbench displays plain language descriptions of these potential problems, allowing users to drill down into the underlying transactional data to uncover and resolve every issue, from duplicate vendor information and invoices to likely fraud or misuse of funds. Workbench includes automated workflow features that facilitate assignment of exceptions to the appropriate resources for efficient investigation and resolution; a Risk Profiler for creating and refining re-usable ad hoc queries that focus investigation and facilitate sophisticated data review; and a permanent Investigative Log that automatically records all related activities, remediation and notes in a permanent journal.

With the 4.5 release of Oversight's continuous transaction monitoring software, Workbench users can take advantage of a number of exception-handling enhancements, including:

--The ability to attach work papers and other files to specific exceptions
--The ability to select a "reason code" for each exception. The reason code is supported in profiles, access control, reports, etc.
--The ability to see correlations between different exception types
--Accurate search- and profile-time estimations based on self-tuning actual/estimated time comparison algorithms