Oversight Systems Inc. introduced version 4.5 of its Web-based continuous monitoring and auditing software, featuring important enhancements to its Workbench application for managing control exceptions. The new version lets internal auditors, controllers and other compliance staff attach work papers and other audit reference documents to a specific exception, as proof it constitutes an error. Version 4.5 can also assign a “reason code” that tracks how often an exception occurs within a transaction, which can help internal auditors optimize process improvement efforts. Another Workbench upgrade allows users to see correlations between different exception types. “It lets you have a more holistic view of what problems are happening within the business process,” says Patrick Taylor, Oversight's CEO. “It gives you the ability to see the forest.”

The other significant enhancement is support for platforms based on Microsoft Windows Server 2003, the dominant operating system for business servers; previously Oversight supported only Linux. Other technical upgrades include enhanced password encryption and protection against brute force password attacks. “After so many failed log-on attempts in a definable period of time, we lock out that particular account,” Taylor explains. The new version also includes single sign-on capability, which allows users to sign on to several applications at once.