Patent News - May 18, 2010 United States Patent and Trademark Office issues Patent 7,720,751 System and Method of Continuous Assurance for Internal Control (SMCA-IC). Inventors: Benedetto Bongiorno and Patti Lynn Bongiorno Assignee: Natural Decision Systems, Inc. A comprehensive, cost-effective, patented methodology to minimize risk and meet the demands of internal control.
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March 9, 2010 Natural Decision Systems, Inc. is pleased to announce publication of their Patent 7,676,427 for the System and Method of Continuous Assurance (SMCA). This methodology is a technologically advanced, analytically sophisticated form of financial audit whose comprehensive scope and efficiency makes it far superior to traditional auditing methods.
SMCA takes the process of the independent audit of financial statements, internal control and forensics to a new level. The functional modules of SMCA offer unprecedented abilities to handle increasing audit demands including PCAOB, AICPA and IFRS standards, while delivering scalable, uncompromising performance and efficiency.
This dynamic shift in audit design includes a modular framework allowing it to target, process, evaluate and identify key audit and IT risk areas within the transactions that support the financial statements and the individual financial statement areas. The modules can be modified and tailored to specific industries. It is currently used in Real Estate and Financial audits.
This modular design also enables integration with current audit solution tools in use by professional accounting firms, as well as public and private companies.
For further information on this patented audit approach, please contact Ben Bongiorno, CPA, CRE at 972.470.9138.
Natural Decision Systems is a research and consulting company specializing in advising accountants and other financial professionals who wish to provide their clients with sophisticated analytical tools to determine risk, comply with mandates for internal control and uncover anomalies for litigation support.
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