The software, Oversight On-Demand, automates forensic analysis of a company's financial data, leveraging advanced statistical analysis techniques to comprehensively inspect transactions for fraud, misuse and errors, and test the effectiveness of internal controls over financial reporting.

The software is available for one-time analysis of processes such as financial accounting and reporting, procure-to-pay process, travel and expense reporting, vendor master file maintenance, and purchase cards.

Oversight On-Demand accommodates files from all of the leading ERP vendors, such as SAP, Oracle, PeopleSoft, JD Edwards, Infinium, GEAC, Baan and others.

"With high-profile companies making headlines for potentially fraudulent behavior, forensic auditing has become one of the hottest areas in the accounting profession today," Oversight Systems CEO Patrick Taylor said. "Unfortunately, traditional analytical resources are expensive to employ, leaving many companies vulnerable to fraudulent behavior. Oversight On-Demand gives companies a virtual auditor at a price tailored to their needs."