The Leading Global Provider of Audit Analytics Technology Copyright © 2008 ACL Services Ltd. ACL...

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The Leading Global Provider of Audit Analytics Technology Copyright © 2008 ACL Services Ltd. ACL Solutions Update Virginia User’s Group Steve Biskie CPA, CITP, CISA Best Practices Program Director, [email protected]

Transcript of The Leading Global Provider of Audit Analytics Technology Copyright © 2008 ACL Services Ltd. ACL...

Page 1: The Leading Global Provider of Audit Analytics Technology Copyright © 2008 ACL Services Ltd. ACL Solutions Update Virginia User’s Group Steve Biskie CPA,

The Leading Global Provider of Audit Analytics Technology

Copyright © 2008 ACL Services Ltd.

ACL Solutions UpdateVirginia User’s Group

Steve Biskie CPA, CITP, CISA

Best Practices Program Director,[email protected]

Page 2: The Leading Global Provider of Audit Analytics Technology Copyright © 2008 ACL Services Ltd. ACL Solutions Update Virginia User’s Group Steve Biskie CPA,

Copyright © 2008 ACL Services Ltd.

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ACL Services Ltd.

Why Continuous?

Provide management with ability to investigate and resolve problems before they escalate– minimizing losses and containing costs

Improve ability to quantify risk (both likelihood and impact) Establish a strong tone-at-the-top Leverage automation power required for CA/CM to:

– Increase assurance through 100% testing of all transactions – Reduce time spent on control testing, allowing resources to focus on

control improvement– Enhance monitoring consistency across the enterprise, reducing

dependency on people

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ACL Services Ltd.

Continuous Auditing and Monitoring: Where are we? Where are we going?

ACL has 11,000+ user organizations globally (85% of Fortune 500)

Numerous ACL user organizations have independently developed CA/CM applications using built-in ACL scripting and dialogs

ACL first introduced packaged CM application in 2001

– Largest implementation of CCM over P2P in the world: 2008

ACL AuditExchange released in May, 2008

– managed analytic platform for audit– ultimately the platform for all ACL solutions going forward

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ACL Services Ltd.

Enterprise Controls Monitoring at Siemens

Largest P2P transaction monitoring project in the world– All corporate entities (currently 900+)– 275 different data sources & applications – All Purchase to Pay transactions (20-40 Million transactions/day)

Exceptions: workflow process– Process managed by entity business owners– Unresolved exceptions automatically escalated through multiple CFO levels

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ACL Services Ltd.

ACL CCM Product Suite

Browser-based interface:– Manage Continuous Monitoring process– Security and Administration– Manage test parameters– View, report and manage exceptions

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The Leading Global Provider of Audit Analytics Technology

Copyright © 2008 ACL Services Ltd.

Users only need a standardweb browser and a connection to the CCM server.

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ACL Services Ltd.

Organized by business units that share similar control policies

Organized by business process and sub-process

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ACL Services Ltd.

Payment tests results

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ACL Services Ltd.

Specific test results for two business units for same vendor invoice

Analytic test description

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ACL Services Ltd.

Parameters can be changed to include or exclude new values into the analytics for future CCM tests.

All changes are logged and restricted to only authorized users.

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ACL Services Ltd.

6+ years of CCM: What we learned

Design differences despite similar tests Differing reporting requirements across organization Tremendous flexibility required by complex organizations Cross-departmental project challenges Test flexibility and adaptability needs increase as organizations

learn more about their own processes Strong need for ad-hoc analytic capabilities along with pre-defined

CCM tests

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ACL Services Ltd.

ad hoc repetitive

2424 7 7 365365

continuous

Continuum of Audit Analytics

One-off analysis and testing

Automated analyses and tests

Managed and deployed from a central environment

Continual execution of automated audit and

monitoring tests to identify errors, fraud and

anomalies on a timely basis

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ACL Services Ltd.

ad hoc repetitive

2424 7 7 365365

continuous

A MANAGED ANALYTICS PLATFORM for AUDIT

Secure controlled access to data

Configuration, automation and scheduling of tests

Management of tests, documentation, findings, logs, workflow

One common platform

Enabling the Continuum of Audit Analytics

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ACL Services Ltd.

Auditors, Audit Management & Audit Executives

Needs

Broader audit coverage

Ability to review analytic findings across the team & against audit plan objectives

Ability to share selected results with management across the enterprise (Audit Committee, Finance, Risk Compliance, etc.)

Implement continuous auditing & monitoring

Extending Analytics Value Across the Department

ACL AuditExchange

Data Specialists

Needs

Broad, direct data access

Data preparation & management

Maintain data security

Preserve network efficiency

Auditors / Analysts

Needs

Ad hoc query

Scripting & script management

Audit-specific functions

Automation of audit tests

Comprehensive audit trail

CREATE REVIEWCONSUME

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ACL Services Ltd.

ETL for ACL AuditExchange includes: Flat files Delimited ODBC - compliant data sources Sybase SQL Informix Oracle dBase Microsoft Access Simple XML

Connectors for ERP Systems include: Oracle e-Business Suite PeopleSoft Enterprise SAP ERP, BW, CRM

Connectors for Complex Databases include: DB2 Teradata IMS for z/OS VSAM for z/OS ADABAS for z/OS

Connectors for Complex Data include:With a Complex Data Exchange, you can reach: PDF Spreadsheet data Report (Print) files Complex XML XBRL SAP Private file formatsAdd-ons to the Complex Data Exchange include format libraries for: SWIFT HIPAA HL7

Populating and Refreshing the Audit Data Repository

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ACL Services Ltd.

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ACL Services Ltd.

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ACL Services Ltd.

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ACL Services Ltd.

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ACL Services Ltd.

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ACL Services Ltd.

Continuous Auditing and Monitoring: Implementation Options

Option 1: Buy a pre-packaged CCM application Option 2: Implement ACL’s AuditExchange, and incrementally

build a continuous platform using internal capabilities– Focus on a handful of analytics in high-value areas– Use success and $ savings from these results to fund future expansion– Rely primarily on internal experience

Option 3: Kick-start an ACL’s AuditExchange continuous program with a comprehensive program of training, consulting and coaching– Focus on high-risk business cycles– Use ACL consulting to build initial analytics, while coaching internal

employees to build and maintain subsequent improvements– Emphasis on getting up-and-running quickly

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ACL Services Ltd.

B R E A K I N G N E W S:Option 4 – The Find Money Fast program

Optional configured analytics designed to find money fast!

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Implementation Observations

Planning and Program Management Developing Audit Staff Data for the Casual Auditor Defining and Measuring Success

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ACL Services Ltd.

Steve Biskie CPA, CITP, CISA

Best Practices Program Director,Alliance [email protected]

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ACL Services Ltd.

Why ACL vs. other tools?

Designed for Audit: Built-in audit-specific functions Assurance: Logs record every audit activity for QA Independence: Non-technical auditors can perform analysis with

limited reliance on IT personnel Data Integrity: Read-only tool cannot change data Efficiency: Quickly process millions of records Breadth: Read data from practically any source Flexibility – Change and maintain tests quickly with limited vendor

reliance Recruiting: Over 200,000 auditors use ACL