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ACL Presentation

ACL Presentation . Software Expo: Automated Solutions for Creating Sustainable Value April 19, 2005 Northern NJ IIA Chapter. “In the past, internal controls were merely considered by auditors; now they have to be

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ACL Presentation

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  1. ACL Presentation Software Expo: Automated Solutions for Creating Sustainable Value April 19, 2005 Northern NJ IIA Chapter

  2. “In the past, internal controls were merely considered by auditors; now they have to be tested and examined in detail. That process will add an important protection for investors because solid internal controls are the first line of defense against misconduct and one of the most effective deterrents to fraud.” PCAOB Chairman William McDonough, June 2004 Why Internal Controls? Why Now?

  3. About ACL • Eighteen years as the global leader in audit, controls testing, and compliance technology solutions • Market Leadership • IIA 2004 Software Survey • Data Extraction & Analysis • Fraud Detection • Continuous Monitoring • Global Client Community • 170,000 Users in 130 Countries • 70% Fortune 500 • Big 4 Public Accounting Firms • All Levels of Government

  4. ENTERPRISE ENTERPRISE ENTERPRISE ENTERPRISE Strategic Decision Making Strategic Decision Making Strategic Decision Making Strategic Decision Making Accurate Financial Reporting Accurate Financial Reporting Accurate Financial Reporting Accurate Financial Reporting BUSINESS PROCESSES BUSINESS PROCESSES BUSINESS PROCESSES Asset Management Asset Management Asset Management InvestmentManagement InvestmentManagement InvestmentManagement InventoryManagement InventoryManagement InventoryManagement PayrollExpenses PayrollExpenses PayrollExpenses AccountsPayable AccountsPayable AccountsPayable Sales &Receivables Sales &Receivables Sales &Receivables Purchasing Purchasing Purchasing Vendor Management Vendor Management Vendor Management INFORMATION SYSTEMS INFORMATION SYSTEMS ERP ERP SCM SCM HRMS HRMS CRM CRM Financial/Accounting Financial/Accounting TRANSACTIONS The Truth is in the Transactions

  5. Enterprise Controls Assurance Enterprise Controls Regulatory Controls Operational Controls Financial Controls

  6. Management Responsibilities Enterprise Controls Design Implement Maintain Monitor Assess Evaluate Support Audit Responsibilities Regulatory Controls Operational Controls Financial Controls Enterprise Controls Assurance

  7. Audit Best Practices • Analyze all transactional source data • Compare transactions across disparate systems • Independently validate controls effectiveness • Conduct regular and frequent testing and review • Enable timely identification of patterns, trends, anomalies, and gaps • Embed data analytics in business operations Drive audit best practices into the business

  8. Approach to Data Analytics Continuous Monitoring Ad Hoc Analysis Data Access & Analytics Continuous Controls Monitoring •ACL Desktop Edition •ACL Server Editions • OS/390 • OS/400 • AIX • Linux • Windows Server 2003 •Direct Link for SAP R/3 • Purchase-to-Payment Cycle • T & E Expenses • Purchasing Cards • Payroll • Order-to-Cash Cycle • Inventory Management • General Ledger • Fixed Assets • Bank & Treasury TECHNOLOGY •Technical Experience • Leverage Investment • Proven Methodology • Increase Efficiency Implementation SERVICES •Skills Building • Increase Productivity • Novice to Expert Level Courses • Technical Proficiency Training •Expert Technical Advice • Global Help Desk • Web-Based Learning Resources • Knowledge Base Support ACL Business Assurance Analytics

  9. ACL CCM & COSO Framework ACL CCM solutions address controls and business challenges within core financial and operational processes. CCM application modules include: Order-to-Cash Cycle Inventory Management Fixed Assets Bank & Treasury General Ledger Purchase-to-Payment Cycle Travel & Entertainment Expenses Purchasing Cards Payroll Control objectives addressed by CCM analytics across key business processes: Authorization Accuracy Completeness Validity Efficiency & Effectiveness Segregation of Duties Regulatory Compliance Supported by ACL Technology COSO INTERNAL CONTROLS FRAMEWORK

  10. Enterprise Business Processes AccountsReceivable AccountsPayable InventoryManagement General Ledger AccountsReceivable AccountsPayable Other Payroll Enterprise Business Processes InventoryManagement General Ledger AccountsPayable AccountsReceivable Payroll Other A C L C C M S O L U T I O N S Sub Processes Payments Payments Sub Processes Payments Payments Payments Requisitions Receiving Payables Purchasing Payables Payments Purchasing Requisitions Control Objectives Analytics Control Objectives Segregation of Duties Efficiency & Effectiveness Segregation of Duties Authorization Validity Regulatory Authorization Accuracy Authorization Accuracy Validity Regulatory Completeness Analytics Examples ApprovalLimits Phantom Vendors Split Payments Duplicate Payments Enterprise Business Processes

  11. Key Attributes of ACL CCM Technology • Independent testing of controls through transaction analysis at the source level • Review 100% of data – cross-platform analysis • Any ERP (SAP, Oracle, PeopleSoft), mainframe system, or custom-built applications • Apply automated, pre-defined analytics to critical control points, mapped to the COSO framework • Provide prompt notification of control breakdowns – quantified exposure of business risk • Ability to quickly drill down to specific exceptions & transactions to resolve problems before external reporting or material impact on financial results

  12. Customer Usage Financial Services Retail Government Manufacturing Healthcare Utilities Insurance Telecommunications Education Business Services

  13. Market Leadership IIA Software Survey 2004 Data Extraction Data Analysis ACL 36% ACL 38% Fraud Detection Continuous Monitoring ACL 38% ACL 50%

  14. Market Leadership “We saw [ACL technology] as an opportunity to identify our risks, but also put forth an oversight program to provide management a picture — on a real-time, continuous basis — of how effective their controls are at managing those risks.” Byron Neaman Director, Financial Audit - Bon Secours Business Finance Magazine – December 2004

  15. Summary – Hot Points • New compliance and reporting requirements are here to stay • Data analytics are necessary in today’s competitive business environment • The right technology effectively implemented is necessary to stay in the game • Strategic approach is needed to properly implement data analytic solutions • ACL Business Assurance Analytics provide immediate opportunities for improvements in controls frameworks and business processes

  16. Contact Information • Fred Wechselberger • Email: Fred_Wechselberger@acl.com • Phone: 604-646-4274 • Web: www.acl.com

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