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Technology for the Audit Team Copyright © 2008 ACL Services Ltd. Peter B. Millar Director, Business Development 25 June 2008 ACL AuditExchange 2009
Copyright © 2008 ACL Services Ltd. 2 ACL Services Ltd. Analysis & Testing Data analysis Findings Documentation & presentation Archive External Audiences External Audit Regulators Audit Committee Executive Management Risk Management Business Process Management Enterprise Audiences A Demanding Mandate
Copyright © 2008 ACL Services Ltd. 3 ACL Services Ltd. Audit Management & Execution Analysis & Testing Risk assessment Work papers, audit plan Resources, schedules & budgets Report & track Data analysis Findings Documentation & presentation Archive External Audiences External Audit Regulators Audit Committee Executive Management Risk Management Business Process Management Enterprise Audiences Fulfilling the Mandate Productivity: Automate critical analytic tasks Data: Enable efficient, secure data access and management People: Expand the use of analytics across the entire audit team
Copyright © 2008 ACL Services Ltd. 4 ACL Services Ltd. Latest Research PwC Report 2007 Internal Audit 2012: A study examining the future of internal auditing and the potential decline of a controls-centric approach Protiviti Report Top Priorities for Internal Audit in a Changing Environment The Institute of Internal Audit Common Body of Knowledge Professional Practices Framework Ernst & Young From Compliance to Competitive Edge – New Thinking on Internal Control
Copyright © 2008 ACL Services Ltd. 5 ACL Services Ltd. ad hocrepetitive 24 7 7 365 continuous Audits Goal – A Spectrum of Analysis Specific analytic queries – performed at a point in time – for the purpose of generating audit report findings Managed analytics – created by specialists – and deployed from a centralized, secure environment, accessible to all appropriate staff Continual execution of automated audit tests to identify errors, anomalies, patterns and exceptions as they occur Explorative & investigative in nature Seeking documented conclusions & recommendations Periodic analysis of processes from multiple data sources Seeking to improve the efficiency, consistency & quality of audits Always on - scripted auditing & monitoring of key processes Seeking timely notification of trends, patterns & exceptions Supporting risk assessment & enabling organizational efficiency
Copyright © 2008 ACL Services Ltd. 6 ACL Services Ltd. Inhibitors to Audit Productivity ad hocrepetitive 24 7 7 365 continuous Limited flexibility & scalability Timeliness of results Diverse consumers of information Lack of sustainable automation Limited visibility into department activity Duplication of effort Time constraints Lack of analysis experience Data: increasing volumes disparity & complexity of sources security IT reluctance & response
Copyright © 2008 ACL Services Ltd. 7 ACL Services Ltd. ad hocrepetitive 24 7 7 365 continuous A MANAGED ANALYTICS PLATFORM for AUDIT Audit analysis & results viewing capabilities for every member of the team Flexible audit repository for data management, scripts & documentation, findings & logs, best practices Integrated, market-leading extraction, transformation & loading (ETL) software One common platform Enabling Audit Productivity
Copyright © 2008 ACL Services Ltd. 8 ACL Services Ltd. ad hocrepetitive 24 7 7 365 continuous Audit Analytics ACL DELIVERS VALUE Providing increased visibility into findings, results and progress of audits Allowing broader audit coverage by reaching all data sources across the enterprise Helping make ACL experts more productive in automating critical analytic tasks Enabling increased productivity across the audit department
Copyright © 2008 ACL Services Ltd. 9 ACL Services Ltd. Management & Automation –Audit repository –User access & rights, data security –Centralized processing & scripting –Continuous auditing & monitoring management –Configuration & management Query & Analysis –In-depth analysis –Audit-specific commands & scripting –Logging Data Access –Access, extract, transform, load –Specialized format connectors Reporting & Presentation –Audit findings in graphs or tables highlighting errors, anomalies, patterns and exceptions Analytic Library –Location to store your proven automated audit tests
Copyright © 2008 ACL Services Ltd. 10 ACL Services Ltd. Audit Repository Audit Repository – An Overview Data General purpose data sets for multiple use Defined data sets for specific audit objectives Data dictionaries Data management & refresh Data access Findings & Results File & artifact management Specific findings Logs & other documentation Analytics Script Library Script documentation Test analytics/ scripts Best Practices documentation Management & Automation Scheduling Administration User access & rights Search Security
Copyright © 2008 ACL Services Ltd. 11 ACL Services Ltd. files ACL AuditExchange Enterprise Databases Management & Automation Audit Data Repository User Access & Rights Configuration & Management Scheduled analytics ETL ACL Analytic Engine Chief Audit Executive AuditExchange Server Technical Audit Specialist Audit Team Manager Internal Auditor
Copyright © 2008 ACL Services Ltd. 12 ACL Services Ltd.
Copyright © 2008 ACL Services Ltd. 13 ACL Services Ltd.
Copyright © 2008 ACL Services Ltd. 14 ACL Services Ltd.
Copyright © 2008 ACL Services Ltd. 15 ACL Services Ltd.
Copyright © 2008 ACL Services Ltd. 16 ACL Services Ltd.
Copyright © 2008 ACL Services Ltd. 17 ACL Services Ltd. ACL Project ETL for ACL AuditExchange powered by ERPLegacyDatabase Supply Chain Extract, Transform & Load into ACL AuditExchange Unstructured Semi-Structured Data Structured Data Office Documents XML, XBRL ERPs, Databases, Flat Files
Copyright © 2008 ACL Services Ltd. 18 ACL Services Ltd. Available Data Sources 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 formats Add-ons to the Complex Data Exchange include format libraries for: SWIFT HIPAA HL7
Copyright © 2008 ACL Services Ltd. 19 ACL Services Ltd.
Copyright © 2008 ACL Services Ltd. 20 ACL Services Ltd.
Copyright © 2008 ACL Services Ltd. 21 ACL Services Ltd. Enabling Audits Mandate Productivity of the Audit Team How to do more with the same resources? Complete more value-add audit tasks with the same staff Develop a more productive team by automating critical analytic tasks Understand, Access and Manage Data How to secure direct and timely access to diverse data sources? Reach all data sources in the enterprise with market - leading ETL technology for deeper audit coverage Support for repetitive and continuous analysis People and Skills How to realize the full potential of my team members? Capitalize on your teams strengths for consistent and quality audits Retain and capture your teams expertise and results even in the event of departmental change
Copyright © 2008 ACL Services Ltd. 22 ACL Services Ltd.
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