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Today’s technology allows teams to assess 100% data, provide new insight and bring value to the client and target test based on risk and removes guess work. With the use of data & analytics, we can identify anomalies and patterns in transactions to ensure effort is focused on more non-standard and riskier items in full populations.
The following selected citations represent engagements where we have helped clients perform risk attribute sampling using data analytics.
PwC partnered with a leading bank in Brunei in providing an analysis on the transactions from Deposits, Loans, Treasury and Procurement division to obtain insights on the data which could lead to non-compliance with internal controls and to other red flags.
A pharmaceuticals company engaged PwC to identify top partner stores in terms of volume of suspicious or outlier transactions as identified and agreed with management. Using analytics, we were able to select the top 70 stores with suspicious transactions out of its 3K partner stores. Our on-site store visits showed that 93% of the stores selected did have unsubstantiated transactions.