|
ACL Launches New Continuous
Controls Monitoring Solutions
Financial Executives Gain an
Unparalleled Level of Control
Over Regulatory Compliance and Fraud Mitigation
Vancouver, BC, November 24, 2003 - ACL Services Ltd., the
world's leading provider of audit and data analysis technology to
financial executives and audit professionals, today announced the
availability of its Continuous Controls Monitoring solutions. These
turnkey solutions build on powerful ACL technology to extend audit
best practices in controls compliance and transactional analysis
expertise into core business processes. The Continuous Controls
Monitoring solutions provide an independent control mechanism to
help organizations improve bottom-line results, reduce costs, and
mitigate the risk of fraud, while meeting increased regulatory
requirements.
The new solutions independently check and validate all
transactional data against control parameters, business rules, and
historical data trends to identify anomalies. Business unit managers
and financial executives can be notified immediately of significant
control breaches, while suspicious activity is captured and
displayed through a browser-based interface for further
investigation and follow-up.
Applicable to a broad range of business processes and compliance
concerns, the initial product launch includes applications
specifically designed to provide controls assurance for several core
financial processes, including the purchase-to-payment cycle, travel
and entertainment expenses, and procurement card programs - as well
as an industry-specific application for anti-money laundering and
compliance requirements within the banking and finance sector.
"Governance breakdowns and subsequent legislation such as
Sarbanes-Oxley have given greater prominence than ever before to the
importance of internal controls and the integrity of financial
transactions and reporting," says Harald Will, ACL president and
CEO. "Although regulatory compliance is forcing organizations to
take a closer look at the effectiveness of their internal controls,
best practices in corporate governance are good business. By
examining transactional data on a continuous basis, our clients
immediately see improved bottom-line results."
John Verver, ACL vice president of professional services and
member of the advisory board for the Center for Continuous Auditing
(CCA), is a vocal proponent for the adoption of continuous controls
monitoring. "By combining powerful, ongoing analysis of data with
immediate reporting of suspect transactions, financial management
gains insight into their control exposures - the areas of greatest
business risk. This is the most effective way I know to allow
management to react quickly to problems as well as monitor the
overall quality of their internal controls. Our Continuous Controls
Monitoring solutions are an important step in delivering this
assurance, effectively and affordably to a broad range of
organizations."
For more than 16 years, ACL has been committed to the continued
development of innovative software and solutions to help auditors,
financial professionals, and senior executives reduce operational
risk, minimize profit erosion, and mitigate the risk of fraud. For
additional information on Continuous Controls Monitoring, please
visit www.acl.com/ccm
For more information contact:
Beth Hardy, Public Relations
ACL Services Ltd.
Phone: 604 669 4225
Email: media@acl.com
About ACL Services Ltd.
ACL Services Ltd. is a global provider of Business Assurance
solutions to financial executives and audit professionals. Combining
market-leading software and professional services expertise, ACL
gives organizations confidence in the reliability, accuracy, and
integrity of the data underlying their increasingly complex business
operations. Since 1987, ACL's proven solutions have enabled
financial decision-makers to assure controls compliance, reduce
risk, detect fraud, minimize losses, enhance profitability, and
achieve fast payback.
With an international customer base including 90 of the Fortune
100 companies and over half of the Global 500, ACL solutions are
delivered in more than 130 countries through a global network of ACL
offices and channel partners, and are used in hundreds of national,
state, and local governments and the Big Four public accounting
firms.
© 2003
ACL Services Ltd. ACL and the ACL logo are registered trademarks
of ACL Services Ltd. All other company and product names are
trademarks of their respective owners.
|
