Technology Audit Practices Achieving Your Objectives While Maintaining
Technology & Audit Practices: Achieving Your Objectives While Maintaining Revenue Security in the New World Vicki Pero Principal, Marlyn Group April 18, 2019
Vicki Pero, Principal, SPHR, CPP Well-balanced in operational leadership and support, Vicki zeros in on employee training, recruitment, and organizational development programs to improve outcomes putting people first. 21 years of experience in the parking industry have crosstrained Vicki to manage challenges from the inside out. During her career she has managed a regional territory comprised of 80 locations, has led a company’s field audit function, and has designed training solutions for all levels of employees.
Chaser Ticket Case Study • High Traffic, Mixed Use Complex • Sold Chaser Tickets at Market and Discounted Rates to Individuals and Area Businesses Fraud Undetected for 8 Months 1 Employee Involved Estimated Loss Month 1 = $2, 200 Estimated Loss Month 8 = $20, 700 Total Estimated Loss = $137, 000
Equipment Conversion Case Study 8 months, $90, 000 Revenue Loss
On Street, Off Street & There’s an App for That Opportunities Challenges Keep It Up! • Customer Access • Audit Techniques • Efficiencies • Checks & Balances • When Problems Arise • Report & Control Expectations • Legacy Practices
Opportunities
On Street • Real Time Monitoring • Detailed Data & Reporting • Historical Comparison • Non-Resetting Collection Sequence & Revenue Info
Off Street • More Strategic – Data Analysis & Response • Establish Baseline Data Thresholds • Macro Level Analysis • Results Are Within Threshold • Results Are Outside of Threshold
Off Street • System Searches for Questionable Transactions • System Reports vs. Manual Logs • Chaser Tickets • Debit Card Programs
Off Street • Chaser Ticket Validations • Debit Card Programs
Apps • New Revenue Source • Customer Convenience • Fill Empty Spaces • Low Cost Implementation • Reporting Requirements
Standard Setting Meter Collection Manipulation Chaser Ticket Fraud Controls Risks Collection Sequence Slip Audits Chaser Ticket P&P
Standard Setting • Policy Examples: • Meter Collection Sequence Audit: Each time revenue is collected from a meter, the associated collection sequence slip must be turned in to the Accounting Department. These slip numbers are tracked and audited to detect sequence gaps. • Chaser Tickets Policy and Procedure: Chaser ticket inventories must be treated like cash meaning they are to be stored securely at all times by the person responsible for managing the inventories. No other employee is to have access to these inventories.
Standard Setting • Established by Operations / Department Leaders • Change Over Time • Audit Feedback / Input for Operations Policies and Procedures • Consider Segregation of Duties as Part of Process
Challenges
On Street • Fraudulent Receipts • Machine Resets • Credit Card Data • System Vulnerabilities
Off Street • Fewer People Involved • Issues Move Up the Chain • Variations in Equipment Terminology and Reporting
Apps • Redemption Codes • Revenue Collection
Keep It Up!
On Street • Keys and Password Management • Hands On Monitoring • Continue: • Spot Checks • Random Route Shadowing
Off Street • Legacy Audit Activities • Monitor Independent Lane Counters
Apps • Evaluate Similar to Equipment Systems • Separation of Duties • Revenue Reconciliation – Like Credit Cards
On Street, Off Street & There’s an App for That Opportunities Challenges Keep It Up! • Customer Access • Audit Techniques • Efficiencies • Checks & Balances • When Problems Arise • Report & Control Expectations • Legacy Practices
Questions / Discussion
Technology & Audit Practices: Achieving Your Objectives While Maintaining Revenue Security in the New World Vicki Pero Principal June 1, 2014
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