ACL Services Launches Audit Analytic Capability Model

Model provides guidance to internal auditors looking to maximize value from audit analytics

LAS VEGAS--(BUSINESS WIRE)-- ACL Services Ltd., the leading provider of business assurance technology for audit and compliance professionals, today announced the release of the ACL Audit Analytic Capability Model, a framework for the use of audit analytic solutions. The model was launched yesterday at The Institute of Internal Auditors’ (IIA) General Audit Management (GAM) conference, wheremore than900 chief audit executives and audit leaders gathered.

Today’s business climate has put pressure on internal audit groups to provide greater insights into business risk, and industry surveys have identified the use of audit analytic technology as a top-five enabling strategic priority. However, only 20% of respondents in a 2010 study of internal auditors by PricewaterhouseCoopers placed themselves in the two most mature categories when describing their departments’ use of data analytics technology.

While the technology exists to automate audit processes and analyze vast amounts of data, the reality is that many internal audit groups struggle to align their resources and capabilities to realize the full potential of audit analytic technology.

“The Audit Analytic Capability Model provides clear guidance for organizations looking to improve their use of analytics,” commented Theodore K. WalterCPA, manager, financial audits at Scripps Health. “It’s how to talk to the business about the value of audit.”

The model maps internal audit’s journey from basic data analysis to continuous monitoring into five steps. By progressing through the stages of the ACL Audit Analytic Capability Model, organizations can benchmark their progress towards greater audit coverage and proactive risk management.

“The ACL Audit Analytic Capability Model provides the kind of practical guidance many organizations are looking for today. The audit profession understands the value of analytic technology but thus far has lacked a clear roadmap that outlined the steps required to integrate it into their audit processes. This model helps do that, addressing not only the technology but also the people and processes that are critical to success,” says Dave Coderre, president of CAATS.

ACL is the only audit technology company that offers a complete range of solutions and services to support organizations at each level, as well as facilitate progress through the model.

Visit the ACL Audit Analytic Capability Model Knowledge Center at www.acl.com/steps for additional information, including a whitepaper and customer case studies.

About ACL Services Ltd.

ACL Services Ltd. is the leading global provider of business assurance technology for audit and compliance professionals. Combining market-leading audit analytics software with centralized content management and exception reporting, ACL technology provides a complete end-to-end business assurance platform that is flexible and scalable to meet the needs of any organization.

Since 1987, ACL technology has helped organizations reduce risk, detect fraud, enhance profitability, and improve business performance. ACL delivers its solutions to 14,700 organizations in over 150 countries through a global network of ACL offices and channel partners. Our customers include 98 percent of Fortune 100 companies, 89 percent of the Fortune 500 and over two-thirds of the Global 500, as well as hundreds of national, state and local governments, and the Big Four public accounting firms. Visit us online at www.acl.com.

Copyright 2011 ACL Services Ltd. ACL and the ACL logo are trademarks or registered trademarks of ACL Services Ltd. All other trademarks are the property of their respective owners.

ACL Services Ltd.Beth Hardy, +1-604-974-1425
[email protected]
Corporate Marketing Manager

Source: ACL Services Ltd.