PeopleSoft delivers auditing capabilities, however, it does not provide auditors real-time notification of the cancellation event. While it is feasible to develop queries that periodically review specific events within PeopleSoft tables, the reporting of the event is typically delayed due to a necessity to run the query which requires human action. The problems with this approach are:
The PeopleSoft payment cancellation page provides the ability to handle payment voids and stop pays, it does not store the OPRID, reason, nor the date and time for each cancellation.
As a result, no payment cancellation activity audit trail exists. To get around these limitations, many PeopleSoft users use the comments field to provide a detailed reason for the cancellation. This means relying on a free format text field and the user’s discretion in providing accurate information.
Dimension Systems developed a method to provide auditors, controllers and other key financial personnel with the ability to be notified within minutes of a check being cancelled.
By automating this report with a push-type method rather than pulling various queries, risk is reduced and time savings are realized.
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