Trips Audit and Risk

Trips+ Audit and Risk Modules provides Revenue authorities with the tools required to support the configuration of their business process workflows as well as their business rules.
Trips+ Audit Module Provides Tax Authorities with a set of tools that enables the Tax Authority prioritize taxpayers for Audit and carry out an end-to-end process according to the Tax Authorities configured Rules:

Trips+ Audit Module supports the officer performing the audit in several ways. It provides the auditor with an automated workflow to guide the audit per the administration’s best practice. It also provides the auditor with access to various tools such as:

• Analysis techniques. For example, various time series, ratio and trend analysis.
• Tax and Penalty Calculation
• Templates to record the results of the audit at key stages
• Automated correspondence and form generation (to the Taxpayer or management) at defined points in the audit, such as the results of the audit and the Taxpayer’s acceptance of them
• A FAQ of local knowledge (e.g. laws, precedents) for the auditor to access, including various look-up tables

Trips+ automatically produces reports, at time intervals required by the tax authority, prioritizing Taxpayers for audit. This is based on their aggregate risk profiles, the amount of revenue at risk or other criteria set by the tax administration. It also randomly selects Taxpayers for audit in accordance with the authority’s rules. These reports are forwarded to authorized users by workflow to aid the audit selection process.

Audit planners can supplement this information by using the business intelligence tools and through interfacing with third party systems to obtain further information about the Taxpayer as part of final case selection. An example could be the results of data mining exercises from the data warehouse or intelligence from the customs system.

To further support audit planning, Key Performance Indicators to assist audit planners with estimating costs, time, and number and skill levels of auditors can be provided.t. This enables the tax administration to conduct audits on a cost/benefit basis as well as other criteria.

By interfacing with the administration’s human resource system, it enables planners to identify and allocate auditors to each audit and prioritize audits within the overall audit programme. Trips+ provides the auditor with a uniquely numbered case folder into which relevant data is downloaded as part of this workflow, the system supports the auditor in planning the audit in accordance with the tax administration’s procedures, such as the automatic generation of notices to the Taxpayer.

Trips+ delivers transactional risk analysis within the transaction processing module as well as an analytical risk component in the Audit Management module.

A key strength of Trips+ is its risk analysis functionality which uses AI Risk Agents and expert rules. These AI agents fully integrate with the registration, returns processing, refunds, and compliance modules. By providing automated risk analysis and reporting, based on risk profiles and other criteria set by authorized officers, Trips+ enables the authority to focus its resources on areas of greatest non-compliance.

Risk Profiles
Risk profiles can be created, monitored, amended and cancelled by authorized tax officers on any aspect of a Taxpayer’s relationship with the Revenue Authority such as the Taxpayer’s behaviour (for example late or non-filing/payments), registration and de-registration requests and Tax Type returns. A key strength in Trips+ is its risk analysis functionality, which fully integrates with the registration, returns processing, refunds, compliance and intelligence case management modules.

• Suspicious results are automatically identified for further analysis by nominated officials through workflow in accordance with the authority’s business rules and the specified cases created and assigned for action.
• The system can provide an aggregate risk score of the Taxpayer for audit selection purposes, based on his compliance rating and other system variables. The sophisticated query and reporting tools in Trips+ enable authorized users to mine information in the data warehouse to identify trends, analyze economic sectors and other areas of possible non-compliance. Results outside various standard deviations from a defined mean set are identified and scored per the Department’s business rules. These scores are aggregated to provide the Taxpayer’s overall risk rating.