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FOR IMMEDIATE RELEASE
ACL Tops Annual Audit Software Survey
Vancouver, BC, August 4, 2003 - ACL Services Ltd. is pleased to
announce that it is once again the preferred audit software tool for the
global internal audit community. In the ninth annual survey conducted by The
Institute of Internal Auditors (The IIA) published today in the August
issue of Internal Auditor magazine, ACL software was selected by a
nine-to-one margin over other specialized audit software tools for data
extraction, data analysis, fraud detection, and continuous monitoring.
The software survey is conducted from within the membership of The IIA,
an organization that represents 85,000 auditors worldwide. A record
number of members participated in this year's survey and more respondents
then ever chose ACL. The survey examines specialized audit software,
bundled solutions, network security software, and working paper
packages. Respondents were asked to select the best tools for a variety of
audit processes and rate their effectiveness for each task.
"In this increasingly complex business environment, internal audit
departments are critical to an organization's success. ACL solutions enable
auditors and senior financial management to validate and trust the
integrity of the transactional data upon which they are making decisions -
and in light of the new Sarbanes-Oxley requirements - accurate
information is essential," says Harald Will, President and CEO of ACL
Services
Ltd. "With the increased attention audit has received over the past 18
months, more organizations are looking for objective information on the
technology solutions available. The software survey from the Internal
Auditor helps meet that need," says Will. "And as the demand grows for
enterprise-wide audit and compliance solutions, I expect more and more
financial executives will choose tools designed specifically for data
analysis, moving away from the limited functionality of bundled products
like desktop spreadsheets."
Tanya Jackson, an auditor with Dominion, an energy resource company
with $10 billion in annual revenues says, "There's no system other than
ACL that can handle at least a million transaction records. You cannot do
that kind of analysis with desktop spreadsheets, because they typically
hold around 60 thousand lines or limit the size of the data. ACL is the
only solution that makes it possible for us to analyze such a high
volume of data."
In the Continuous Monitoring category, ACL usage increased from 36
percent last year to 40 percent this year. John Verver, Vice President of
Professional Services at ACL and an advisory board member with the
Center for Continuous Auditing, says, "To be effective, a continuous
monitoring system needs to be able to process vast amounts of data with
speed
and efficiency. That's what ACL is known for and I am pleased to see
our continuous monitoring solution recognized as the market leader in
this field."
The August 2003 issue of the Internal Auditor, with the complete survey
results, is available to subscribers and members of The IIA at
www.theiia.org.
For more information contact:
Beth Hardy, Public Relations
ACL Services Ltd.
Phone: 604 974 1425
Email:
media@acl.com
About ACL Services Ltd.
ACL Services Ltd. (www.acl.com) 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 89 of Fortune 100
companies and over half of the Global 500, ACL solutions are delivered in
more than 150 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.
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