DataConsulting March 2013 Newsletter

2013-03-01

Welcome to the March edition of the DataConsulting newsletter, which aims to give you a concise update on the latest happenings in the world of ACL and DataConsulting. For the newer readers among you, DataConsulting is the UK channel partner for ACL. We provide all ACL software products as well as ACL training and consultancy/resourcing to the UK market. I personally have been an ACL user for just short of 20 years and I’m just as enthusiastic as the day I first fired up ACL as a new recruit to PwC.

We’ve crammed plenty in this month. Highlights for me include the release of Analytics Exchange 4 and a Coffee Corner produced by our latest joiner to DataConsulting – Besjona. You must let me know if she does a better coffee corner than me. If she does she will be back to do more CC’s! I do hope you enjoy the newsletter, and my offer, as always, stands – if you want me to come and see you to discuss your analytics strategy, I’m ready willing and able to do so.

Best Regards,

Robin

ACL Announces Analytic Exchange 4

ACL, the company that is transforming audit and risk, recently announced the launch of ACL™ Analytics Exchange (AX) version 4. AX—formerly ACL AuditExchange—goes beyond audit, enabling adjacent departments, including finance, risk and compliance, to protect the bottom line by identifying control deficiencies such as fraud and revenue leakage. Organisations are most vulnerable when they are negligent in testing controls, and the outcome—such as financial loss and reputational damage—can be costly.

What are the noteworthy new features, functions and enhancements in ACL AX4?

Current AX customers who have an active support contract can upgrade now for no extra licensing cost, and DataConsulting offers expert implementation services to assist you with the process. For our current customers who are keen to discover the features of the new version of AX, we have a rundown of the noteworthy ones.

Get the low down – register for the webinar

Want to know more about the features of AX4? A half-hour webinar will be held on March 27th to show you what’s new.

Choose the ideal solution for your business

Find out more about how ACL Analytics Exchange protects your organisation to identify control weaknesses and protect the bottom line.

ACL Open Enrolment Training Courses

DataConsulting successfully held its first ACL Open Enrolment training week in London during February. The new course schedule was well received, with 14 participants undertaking ACL certified training or ACDA (ACL Certified Data Analyst) assessment throughout the week. Our next round of ACL Foundation and ACL Advanced courses is fast approaching, taking place in London during May. We have extended our ‘3 for 2’ special offer* for this schedule and it will also be the first UK course to utilise the updated ACL training materials. If you have new joiners who require awareness of ACL, or perhaps would like to streamline your current ACL processes with scripting, please take a look at our schedule.

The current adoption of Continuous Auditing and Continuous Monitoring

Although it is becoming increasingly important that companies have better insight into their business processes at any given moment, allowing them to adapt to changes in the environment, legislation and their organisation, only a limited number of companies are capable of adequately addressing and providing insight into key risks. This is shown by KPMG’s recent international research performed amongst seven hundred organisations in the EMA region. Although a majority of the companies acknowledge the necessity of being able to quickly identify when control measures fail, only 9% of companies have introduced any form of Continuous Auditing and Continuous Monitoring (CA/CM).

Constant Self-Examination is Critical to Compliance

Identifying Cracks in the System

Attention-grabbing regulatory traps, such as the Foreign Corrupt Practices Act, which has been highlighted in the media as a result of the Justice Department’s recently released guidelines, Sarbanes-Oxley, and the Dodd-Frank legislation, provide plenty of reasons for businesses to be concerned. Outside the U.S., similar regulations like the UK Anti-Bribery, J-SOX, and the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act add complexity for global operations and concerns for organizations based all around the world. Management must be aware of the red flags indicating possible violations at an early stage so that a strong focus can be placed on potentially high-risk targets for regulatory enforcement. It only takes one violation to trigger a government investigation that can lead to considerable fines and a reputation-damaging stream of bad publicity.

Continuous Monitoring: No longer a tool for just audit and compliance professionals

Leveraging continuous monitoring technology to improve day-to-day productivity is a practice no longer limited to just audit and compliance professionals—continuous monitoring is gaining serious traction in cyber security. A recent infoRisk Today article featured an interview with George Schu, a leading expert in implementing continuous monitoring technology in the field of cyber security.

Coffee “Qaj” Corner

In this months’ edition of the Coffee Corner, DataConsulting’s latest joiner – Besjona Bega – shares her favourite ACL function and command.

Upcoming Events and ACL Open Enrolment Courses

ACFE European Fraud Conference – Prague, March 17-19, 2013 – Register

ACL Analytics Exchange 4 webinar – Wednesday March 27, 2013 at 6:00pm GMT – Register

Strengthening Controls in 2013: Travel & Entertainment Expenses – Compliance Week webcast, April 4, 2013 at 6:00pm GMT – Register

ACL Connections 2013 – Atlanta, April 28-30, 2013 – Register

ACL 105: Foundations of ACL – Concepts and Practices – London, May 13-14, 2013 – Get a quote

ACL 302: Advanced ACL Concepts and Techniques: Scripts – London, May 15-16, 2013 – Get a quote

ACL 901: ACL Certified Data Analyst (ACDA) Examination – London, May 17, 2013 – Get a quote

ACL 105: Foundations of ACL – Concepts and Practices – London, September 16-17, 2013 – Get a quote

ACL 302: Advanced ACL Concepts and Techniques: Scripts – London, September 18-19, 2013 – Get a quote

ACL 901: ACL Certified Data Analyst (ACDA) Examination – London, September 20, 2013 – Get a quote

 

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