Smart Financials Overview
The Financials module in Smart provides the ability to test Financials Business Processes within Workday. Financial Test Runs are created in the same way as HCM Business Processes, however there are additional features which are only applicable to Financials Test Runs. In this section we will cover those features, as well as some specifics to consider when testing Workday Financials.
Background: One of the biggest risks to customers using Financials which we want to catch using Smart is Fraud. Smart security is a key piece of the puzzle as this tells us where there is potential risk (so the security tests should always be built first). BP testing then allows us to take this a step further and test that these risks are being properly mitigated with the correct controls. E.g. Someone who can initiate the Create and Settle a Supplier Invoice, will also be subject to reasonable scrutiny via approvals etc.
There are two potential types of fraud we are testing for:
Intentional Fraud: This is basically theft, such as an employee intentionally miss directing payments meant for external suppliers into their own bank accounts. An example of how this might happen is someone creating fake suppliers with their own bank details and then paying those suppliers. Could also be someone update existing suppliers bank details to either their own bank details or an accomplice’s bank account.
- Accidental Fraud: This is also theft but when an employee has been tricked into helping unknowingly. An example is fraudsters will snoop on email communications regarding invoice payment. So, our client could email a supplier regarding payment of a supplier invoice, then the fraudster will reply to that mail masquerading as the supplier asking our client to update their bank details to their own bank details. (which is actually the most common kind of fraud).
There are a number of different pieces of functionality that will help you test these various areas, all of which are described in the different chapters of this section. E.g.
- Testing your business process definitions (approval steps etc)
- Testing your custom validations
- Testing your Accounting
- Account Posting Rules
- Alternate Accounts
- Intercompany transactions