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Oversight Systems Inc. introduced version 4.5 of its Web-based continuous monitoring and auditing software, featuring important enhancements to its Workbench application for managing control exceptions. The new version lets internal auditors, controllers and other compliance staff attach work papers and other audit reference documents to a specific exception, as proof it constitutes an error. Version 4.5 can also assign a “reason code” that tracks how often an exception occurs within a transaction, which can help internal auditors optimize process improvement efforts. Another Workbench upgrade allows users to see correlations between different exception types. “It lets you have a more holistic view of what problems are happening within the business process,” says Patrick Taylor, Oversight’s CEO. “It gives you the ability to see the forest.”

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