(Business Wire) — ACL Services Ltd., the leading provider of business assurance technology for audit and compliance professionals, was found to be the solution of choice among internal auditors who use data analysis software.
The recently published AuditNet® Survey Report on Data Analysis Software and Auditors revealed that 63 percent of surveyed internal auditors utilizing data analysis software use ACL, more than twice any other software. These findings align with the most recent software survey from The Institute of Internal Auditors (IIA) in 2009, which revealed that ACL audit analytics were the most commonly used for data extraction, data analysis, fraud detection and investigation, and continuous audit.
“For more than 24 years, ACL has worked with thousands of internal audit organizations, so we understand the challenges these departments face,” said Harald Will, president and CEO of ACL Services. “ACL solutions help them step into a more strategic role while still executing on the audit plan, providing greater overall insight into the business and better assurance that controls are working as intended.”
Adoption of purpose-built audit technology, such as CAATS and continuous auditing, is on the rise, as the internal audit function evolves to fit a new, more strategic and consultative role within the organisation. The IIA 2010 Global Internal Audit Survey Reports, released in March 2011, listed “Step up your use of audit technology and tools” as one of 10 imperatives “for the internal auditing activity to meet organizations’ fast changing needs and stakeholder expectations to strategically position the profession for the long term.”
To help internal audit groups chart their path forward with audit technology, the company released the ACL Audit Analytic Capability Model, which outlines the five levels of audit analytics use throughout an organisation. The Model helps internal audit groups understand the elements, in terms of people, process and technology that contribute to success and increasing benefits at each level.
(Source: Business Wire)