Item Limits Detection
Written by Michelle Henley
Updated at September 16th, 2024
Table of Contents
Use Case
- Enables companies to precisely identify transactions with elevated risk, a determination often derived from periodic risk assessments, internal audits, or reports from whistleblower hotlines, among other sources.
- Empowers the creation of tailored rules designed to detect potential compliance program risks specific to vendor transactions, such as those involving compliance-sensitive expenses (e.g., donations, consulting, gifts).
- Instrumental in proactively monitoring unique risk scenarios that are specific to the company (e.g., informed by historical issues), the industry it operates within, or the country where its business activities are conducted
| Description | Identifies transactions where an item limit rule (configured by the customer) is met. Item limit rules are a collection of different attributes and values that must be met to quality for comparison with scoring criteria. |
| Domain(s) | Vendor |
| Analysis Type | Context Flag |
| Focus Area | Context Analysis |
| Score Methodology | The spend measure is selected and applied in accordance with the rule components |
Default Scoring Criteria
Importance: 5 (default)
Enabled: True (default)
| Risk Result | Default Value | Notation |
|---|---|---|
| Weak | N/A - No rules are configured by default. Rules must be set by user. | |
| Moderate | ||
| Strong | ||
| Auto |
Rule Configuration
To configure a rule for this risk analysis, open the settings page from Risk Analysis Settings → Items Limits Detection Vendor Domain and click Add A Rule.
The following rule fields are required:
| Rule Field | Description | Settings Options |
|---|---|---|
| Name | Name for the specific rule | Free text |
| Description | Description of the rule | Free text |
Next, click Add A Rule Component.
To set a component, select from the Field and Search Type drop-down lists.
The Value field will appear once a Field and Search Type are selected.
Below is a description of each Field & Search Type and Value available:
| Field | Search Type | Value Type |
|---|---|---|
| Company | Includes OR Excludes | List is populated from customer data* |
| Expense Type | Includes OR Excludes | Preset List |
| GL Account | Includes OR Excludes | List is populated from customer data* |
| GL Account Group | Includes OR Excludes | List is populated from customer data* |
| GL Account Group (Consolidated) | Includes OR Excludes | Preset List |
| Payment Method | Includes OR Excludes | Preset List |
| Subject Classification | Includes OR Excludes | List is populated from customer data* |
| Vendor | Includes OR Excludes | List is populated from customer data* |
*For values populated from customer data, value lists will not populate if data is not available.
Note: Where multiple rule components are set, they operate only in an “and” manner.
Unique Configurations
This analysis utilizes rules configured by the user, for which they can configure the following:
- Rule Components - specific restrictions, by field, to limit the transactions that are considered by the rule
- Scoring Criteria based on the transaction value (Strong, Moderate, and Weak values can be set)
-
Automatic Criteria - transactions that meet these criteria will appear in Monitoring Review results regardless of the Risk Engine Score
Exclusions
None