Executives today are more challenged than ever to make quick, well-informed decisions that address growing business complexity and increasing regulatory requirements.
They must look to their core transactional data to uncover areas of unforeseen risk, potential internal control exposures, and opportunities for operational improvement.
This is best done through a combination of powerful and ongoing business analytics and immediate reporting that drives insightful decision making to produce reliable results.
Continuous Monitoring Applications apply traditional audit technologies and sophisticated analytics to organisations' day-to-day operations. Continuous Monitoring Applications independently and continuously checks and validates all transactional data against control parameters, business rules, and historical data trends, to identify transaction anomalies.
Business unit managers and financial executives can be immediately notified of significant control breaches, while suspicious activity is captured and displayed through a browser-based interface for further investigation and follow-up.
Continuous Monitoring Application is implemented as a turnkey solution to address business challenges faced by financial management, while ensuring rapid return on investment (ROI). ACL enables organisations to contain costs, minimise losses, detect fraud, and comply with increasingly stringent financial reporting regulations, including Sarbanes-Oxley.
The extensible Continuous Monitoring framework allows organisations to focus on those business processes that represent the greatest potential risk, easily adding application modules to gain an increasingly comprehensive overview of control exposures within the enterprise.
ACL Continuous Monitoring provides assurance for a wide variety of key business and compliance processes, including :
- Purchase-to-Payment Cycle
- Travel & Entertainment Expenses
- Procurement Card Expenses
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