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Monday, April 24, 2006

Oversight 3.8 Introduces Open Knowledge for Customized Analysis & Testing

Web-based interface allows users to create & modify Oversight's Integrity Checks

ATLANTA (April 24, 2006) - Oversight Systems Inc. today announced the launch of Oversight 3.8 which extends Oversight's continuous controls monitoring software by allowing users to easily customize their analysis and build upon Oversight's best practices in transaction inspection and continuous monitoring.

For more than two years, Fortune 500 companies have relied upon Oversight's real-time transaction inspection software to automate the analysis and testing of auditors and fraud examiners across their heterogeneous financial systems. With real-time inspection over every transaction, Oversight identifies all errors and control violations, drives defect-free financial processes, and sustains Sarbanes-Oxley compliance by providing a wide range of automated mitigating controls.

"Oversight continues to expand upon our library of Integrity Checks that encapsulate the best practices of auditors and our intuitive interface empowers non-technical users to apply Oversight’s advanced analysis engine to deliver precise results for their specific needs, processes and applications," Oversight Systems CEO Patrick Taylor said.

Oversight 3.8 provides a secure medium for authorized users to tune the configuration of Integrity Checks. Non-technical users can create new Integrity Checks for real-time transaction inspection that are customized for company-specific processes. Oversight partners are leveraging the capabilities to develop monitoring solutions for trade promotion, Basel II, license enforcement and OMB A-123.

"Grant Thornton recognized the emerging demand for continuous monitoring solutions to maintain financial integrity within ERP systems, so we've partnered with Oversight Systems to incorporate Oversight's real-time transaction inspection into the Grant Thornton Financial Integrity Workstream offering," said Rhoda Canter, Partner, Grant Thornton Global Public Sector.

About Oversight Systems, Inc.
Oversight Systems takes continuous controls monitoring to the next level with real-time transaction inspection for defect-free financial processes. Oversight's software provides a platform for continuous monitoring that automates the process of finding problems, fixing problems and proving problem resolution. By inspecting each step of individual transactions across all financial systems, Oversight identifies all errors and control violations, drives defect-free processes, and sustains Sarbanes-Oxley compliance.

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