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ACL Services Rolls Out Audit Analytic Capability ModelMar 18, 2011 (Close-Up Media via COMTEX) -- ACL Services, a provider of business assurance technology for audit and compliance professionals, announced the release of the ACL Audit Analytic Capability Model, a framework for the use of audit analytic solutions. The model was launched at The Institute of Internal Auditors' (IIA) General Audit Management (GAM) conference, where more than 900 chief audit executives and audit leaders gathered. The Company said today's business climate has put pressure on internal audit groups to provide greater insights into business risk, and industry surveys have identified the use of audit analytic technology as a top-five enabling strategic priority. However, only 20 percent of respondents in a 2010 study of internal auditors by PricewaterhouseCoopers placed themselves in the two most mature categories when describing their departments' use of data analytics technology. While the technology exists to automate audit processes and analyze amounts of data, the reality is that many internal audit groups struggle to align their resources and capabilities to realize the full potential of audit analytic technology. "The Audit Analytic Capability Model provides clear guidance for organizations looking to improve their use of analytics," commented Theodore K. Walter CPA, manager, financial audits at Scripps Health. "It's how to talk to the business about the value of audit." According to a release, the model maps internal audit's journey from basic data analysis to continuous monitoring into five steps. By progressing through the stages of the ACL Audit Analytic Capability Model, organizations can benchmark their progress towards greater audit coverage and proactive risk management. "The ACL Audit Analytic Capability Model provides the kind of practical guidance many organizations are looking for today. The audit profession understands the value of analytic technology but thus far has lacked a clear roadmap that outlined the steps required to integrate it into their audit processes. This model helps do that, addressing not only the technology but also the people and processes that are critical to success," says Dave Coderre, president of CAATS. ACL noted that it offers a complete range of solutions and services to support organizations at each level, as well as facilitate progress through the model. More information: www.acl.com ((Comments on this story may be sent to [email protected])) |