ACL Success Story – Manufacturing – Grupo Bimbo

2011-04-01

Grupo Bimbo

“Thanks to ACL technology, we are able to analyze faster and more effectively, 100 percent of the payroll transactions for 69,000 employees.”

Emigdio Zambada Senties, Auditor, Grupo Bimbo

 

Grupo Bimbo, a food manufacturing company based in Mexico City, required a faster, more effective way to audit a payroll of 69,000 employees in six companies. The Internal Audit department set up a weekly continuous monitoring program using ACL that quickly analyses 32 million transactions for errors, control weaknesses and unauthorised payments. This process used to take six months of manual testing. With ACL, it takes just one week of automated analysis, and provides full coverage of every single transaction. Grupo Bimbo has already discovered overpayments, boosted efficiencies and cut expensive remote audits.

The Need to Reduce Manual Processes

Grupo Bimbo’s Internal Audit (IA) department must continually examine and validate over 32 million transactions associated with its payroll. The team was eager to strengthen internal controls and eliminate lengthy, sample-based audits.

The IA department also needed a reliable way to prevent and detect fraud – to minimise losses and support greater transparency in its financial reporting. By containing costs and increasing efficiencies, the audit team would be able to focus on the most critical business areas and more effectively safeguard company-wide assets.

Extended Audit Coverage

Grupo Bimbo’s IA team has already recovered overpayments and identified potential control gaps. The team can quickly pinpoint data exceptions and compare a huge number of transactions in a seamless, automated process.

The following are some of the results the audit team has achieved with ACL:

  • 100% weekly audit coverage of multiple business processes without human intervention, random sampling or additional IT support
  • Shorter audit cycles conducted nearly in real time, with a quicker and more economical review process
  • Recovery of excess payments and fewer expensive trips to conduct remote audits
  • Stronger internal controls and automated processes that rapidly detect fraud, unauthorised payments, policy breaches and operational gaps
Why ACL?

Based on a strong reputation and Fortune 500 client list, the Internal Audit department chose ACL and quickly developed a weekly automated monitoring program to check and ratify payments for 69,000 employees.

Using ACL technology it takes only minutes to audit 100% of the payroll data automatically. Auditors can easily analyse original source data with integrity and discretion, and without additional IT support.

Outlook

Based on the audit team’s considerable success with ACL, this powerful software has been rolled out to many other process areas and departments including receivables, payables and bank reconciliations. The organisation plans to extend the ACL solution to business teams and the technology will be mandatory for all audit departments.

Friday, April 1, 2011 In: Client Success Stories, Hot Topics Comments (None)

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