Download - Experiences & Benefits of ACL
Your Trusted Partner for Audit Analytics
Copyright © 2011 ACL Services Ltd.
Experiences & Benefits of ACL
Peter Dean, Director, Business Intelligence and Strategy Ltd
Robin Clough, ACDA, Managing Director and ACL Certified Master Trainer, DataConsulting Ltd
Copyright © 2011 ACL Services Ltd.
2ACL Services Ltd.
Who are we?
Peter Dean, Managing Director of BIAS
KPMG Audit, Alliance & Leicester plc, CFO
Business intelligence & data strategy expertise
Aviation Sector specialist combined with strong audit & finance experience
ACL Reseller with a focus for developing best practice technology solutions to the sector
Passion for Audit Analytics incorporating dashboard and KPI metrics to support the internal audit process
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And
Robin Clough, Managing Director of DataConsulting
Certified ACL trainer
Founder of DataConsulting, authorised UK ACL distributor
Formerly PwC, Deloitte
ACL user for 17 years
Focused on helping clients to get more from ACL products
Think in Terms of Data
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Stronger Together: Our Insights for Today
The ACL Story (Robin)
Your Strategic Positioning & Roadmap (Robin)
Tips For Moving Forward (Peter)
Customer Experiences (Peter)
Summary & Questions (Peter & Robin)
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The ACL Story
2000 – 2002ACL delivers first customized continuous auditing and monitoring applications for
specific business processes
2000 – 2002ACL delivers first customized continuous auditing and monitoring applications for
specific business processes
2004-2007ACL implements CCM products for 6 core business processes at
wide range of clients
2004-2007ACL implements CCM products for 6 core business processes at
wide range of clients
1987-1999Auditors increasingly automate
use of ACL for data analysis and implement regularly repeated
applications
1987-1999Auditors increasingly automate
use of ACL for data analysis and implement regularly repeated
applications
2008ACL implements Enterprise CCM for Purchase to
Pay at Siemens AG globallyRelease of ACL AuditExchange: a managed
analytics platform and continuous auditing solution
2008ACL implements Enterprise CCM for Purchase to
Pay at Siemens AG globallyRelease of ACL AuditExchange: a managed
analytics platform and continuous auditing solution
2009ACL releases AX2, the Business Assurance Platform to enable
greater depth of analysis, and enhance productivity
2009ACL releases AX2, the Business Assurance Platform to enable
greater depth of analysis, and enhance productivity
2003ACL launches 1st Continuous Controls
Monitoring (CCM) product suite
2003ACL launches 1st Continuous Controls
Monitoring (CCM) product suite
2011ACL releases the ACL Audit
Analytic Capability Model and AX3
2011ACL releases the ACL Audit
Analytic Capability Model and AX3
Copyright © 2011 ACL Services Ltd.
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The ACL Story cont..
ACL solutions are available: In local languages
Through a global network of ACL offices and Certified Partners
ArgentinaAustraliaAustriaBahrainBeneluxBulgariaCanada
GreeceHong Kong
IndiaIrelandIsraelItaly
Japan
JordanKuwait
LebanonNordicsOman
ParaguayPoland
ChinaCyprus
EcuadorEgypt
FinlandFrance
Germany
PortugalQatarRussia
Saudi ArabiaSingapore
South AfricaSouth Korea
SpainTaiwanTurkeyUAE
United KingdomUnited States
Uruguay
CANADA
UNITED STATES
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Your Strategic Positioning & Roadmap
Audit Analytic Capability Model– Codified based on 20+ years of experience– 14,000 customer organizations worldwide– Reviewed by Big Four partners– Covers the full spectrum of audit analytics needs– Will lead to an evaluation tool for our customers
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The ACL Audit Analytic Capability Model
Sophistication
Audi
t Con
tribu
tion
Hindsight
Insight
Foresight
Level 2AppliedLevel 2
Applied
Level 3Managed
Level 3Managed
Level 4Automated
Level 4Automated
Level 5Monitoring
Level 5Monitoring
Level 1BasicLevel 1Basic
ad hoc repetitive continuous
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Level 1: Basic
Characteristics– Audit-specific technology– Ad hoc query and analysis– Used to perform analysis of large data sets
Benefits– Rapid insight into entire data populations– Increased ability to detect fraud, errors and inefficiencies– Increased audit quality and assurance
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Level 2: Applied
Characteristics– Analytics fully integrated into audit process– Comprehensive suite of repeatable tests are designed and developed– Applied to a range of audit and control objectives
Benefits– Gain greater insight into targeted audit areas– Improved quality and reliability of tests– Improve audit efficiency and effectiveness
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Level 3: Managed
Characteristics– Centralized or local processing– Secure environment to store data – Audit analytic content shared within the team
Benefits– Manage all audit analytic content in one secure place– Do more with faster analysis– Risk mitigation / sustainability
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Level 4: Automated
Characteristics– Recurring and scheduled analysis– Audit processes change from cyclical to continuous – A broader set of the audit team applying analytics across the audit process
Benefits– Achieve timely insight into audit and control issues– Improve audit team efficiency through automation– Audit scope increased through multiple
concurrent auditing
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Level 5: Monitoring
Characteristics– Exceptions routed to business process owners for review and remediation– Reporting and monitoring of the results and trends identified– Increased use of audit analytics across the organization
Benefits– Develop a partnership with business process owners to
provide insight into their operational performance– Achieve timely resolution of exceptions– Provide the organization with a clearer picture
of risks in business processes
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Technology for AACM
ACL Desktop
AX Core
Direct Link
AX Datasource
AX Exception
AX Gateway & MS Add-ins
1. Basic 2. Applied 3. Managed 4. Automated 5. Monitoring
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The ACL Software Family
Automation – Built-in Analytic Scheduler
Server Analytic Processing Power
Content Management – Any File Types
Access virtually any data source and automate
data feeds
EnterpriseData
SQL
ERP
Basic & Applied
Managed
Automated
Monitoring
Data AccessComponent
s
ACL D/B Interfaces
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It’s a Journey
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Access where you are and where you would like to be
Begin to plan your strategy & scope
People, processes, technology & data
Identify current resource requirements
Target labour intensive areas
Track progress against plan
Communicate
Start Planning the Journey : Tips for Moving Forward
Level 2AppliedLevel 2
Applied
Level 3Managed
Level 3Managed
Level 4Automated
Level 4Automated
Level 5Monitoring
Level 5Monitoring
Level 1BasicLevel 1Basic
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Create the Roadmap
Basic – Encourage experimentation with key data
Applied – Integrate analytics as part of audit planning
Managed – Facilitate server technology
Automated – Realign methodology (100% Data Coverage)
Continuous – Integrate with wider business departments
Build the culture for a sustainable project
The Audit Management Role : Making CA/CM a reality
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The process has already started
2010 : E Ticketing Audit Work Program
2011 : Station, ERM & Continuous Audit workshops
Challenges & Benefits are being shared
Dashboards with Fraud & Risk Metrics being developed
Technology and data considerations….
Sharing Best Practice : IAAIA Workshops
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Understand the data scope, availability & ownership
Do not forget ‘orphaned’ data (e.g. Cards, website etc)
IA /IT roles and responsibilities (data structures & access)
100% transactional data? Data integration responsibility?
Align Risk Metrics, Audit Plans and Data – which order?
Assess ROI quick wins (resource, critical, potential savings)
Identify Audit Analytics technology & scripting capabilities
Start small and build incrementally on success
What have others done …?
Key Technology & Data Considerations
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Customer Case Study: Continuous Auditing Hawaiian Airlines
Objectives Implement a server based
business assurance platform to draw large data volumes from numerous, disparate systems.
Enable several auditors to work with data analytics and continuous auditing projects – without the risk of creating multiple file versions, security issues or data overwrites.
Enhance audits reputation and ensure buy-in on continuous auditing from senior management.
Benefits Reduce the time required to
complete projects by approximately 99% with automation.
Gain 100% data coverage, which significantly reduces the incidence of improper flight benefit usage.
Achieve a measurable, monetary ROI by using trend-based analytics and automated continuous auditing routines.
Copyright © 2011 ACL Services Ltd.
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The ACL AuditExchange solution is paying for itself in time savings alone. It will continue to deliver value as we implement continuous monitoring throughout the organization.
Mark Curnow
Manager, Corporate Audit, Hawaiian Airlines
Customer Case Study: Continuous Auditing Hawaiian Airlines
Copyright © 2011 ACL Services Ltd.
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The internal time savings is huge, with team members estimating that this process alone is paying
for the cost of the AuditExchange technology.
Mark Curnow, Manager, Corporate AuditHawaiian Airlines
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Customer Case Study: Applied AnalyticsEmirates
Achievements Deeper, more thorough data analysis with higher quality results and a standardized reporting format Continuous monitoring that quickly identifies exceptions and control gaps, and provides greater business assurance Targeted analysis that can automatically be conducted across disparate corporate systems and data formats
Dramatically less time required to extract, prepare, format and generate information for audits – in some cases, several weeks worth of labour has been cut to 10 minutes or less Fewer manual errors and omissions with complete data coverage, rather than random sampling
Copyright © 2011 ACL Services Ltd.
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It can be said that ACL is the ‘Genie’ that is producing magical results for Emirates Internal Audit.
Kalpesh S Vashi
Information Systems Audit Manager, Emirates
Customer Case Study: Applied AnayticsEmirates
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We can help you be “Stronger Together”
Aim to deliver demonstrable ROI and value-added through people, processes, technology and DATA
People – Knowledge transfer, training, post-implementation reviews and on-going support
Processes – Understand the business, risk and constraints
Technology – share, advise, implement and support sector focused solutions
DATA – The key to a successful Audit Analytics strategy is understanding the integration of all the relevant data fields and sources
Copyright © 2011 ACL Services Ltd.
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Summary
ACL Services is a technology solution provider uniquely built around the needs of audit and compliance professionals.
ACL and their global partner network offers organisations a way to leverage their existing compliance and audit analytic activities for improved business performance and increased efficiency.
ACL solves audit’s challenges with a combination of market leading software, services and analytics that streamline audit processes.
14,700+ customer organizations
worldwide
24+ years of experience
Covers the full spectrum of audit
analytic needs
Copyright © 2011 ACL Services Ltd.
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Your Trusted Partner for Audit AnalyticsYour Trusted Partner for Audit Analytics